Smartphones – and retailers’ accompanying apps – are a key tool in the shopper’s buying process. While the adoption of mobile payments still remains small, the power of mobile to influence shopping decisions (and ultimately purchases) continues to grow according to a recent Deloitte study.
In fact, Deloitte forecasts that in the U.S. alone, the impact of smartphones on retail sales will increase to between 17% and 21%, which is between $628 and $782 million in sales by 2016.
Nearly half (46%) of smartphone owners use their devices to research items before or during a store visit. Deloitte found a correlation: when shoppers use their mobile devices in-store they are more likely to make a purchase. Specifically, the study shows that 74% of shoppers that use a retailer or brand mobile app or visit their mobile site will make a purchase, compared to 66% of smartphone owners who don’t use a mobile app or site.
When measuring the success of your mobile app or mobile site, remember that it is a tool in the buying process. A good mobile experience can increase both in-store purchases and online purchases if you are set up to capitalize on both. Since shoppers now use multiple devices (smartphones, tablets and PCs), a shopping experience that begins on a mobile device can end in-store, or move from mobile device to tablet to PC. A purchase on any of your channels is a win.
You probably don’t need a study to tell you, but this one cements the notion that your mobile app is very important in a shopper’s decision-making process – and its influence will only continue to grow.