Executive Briefings

Mobile Commerce More Likely to Help Than Harm In-store Sales - if Harnessed Properly

The buzz about the threat of mobile/e-commerce to physical stores has at times echoed "All About Eve," with "thumb shopping" playing the role of the ingénue poised to outshine those brick-and-mortar has-beens. But mobile shopping will actually have the opposite effect, according to Matt Moog, CEO of PowerReviews, which bills itself as a "Consumer Engagement Engine" that helps companies connect shoppers at the moment of purchase to drive sales.

“Consumers rely heavily on their smart phones and are often ahead of retailers when it comes to mobile trends. As more retailers introduce mobile technology into brick-and-mortar stores, they’ll draw in consumers who are ready and willing to adopt new shopping habits. Consumers spend a great deal of time on their phone, using that technology to enhance their shopping experience as they see fit. For example, there has been a rising trend in consumers showrooming products on their mobile phones will they are browsing in-store aisles. As they stand in front of merchandise, they pull out their smart phones to check product reviews and browse other retailers to compare prices. Retailers caught on to this habit and have begun to add this information directly into their mobile-optimized sites and apps. They have increased the number of products reviews, ratings and pricing information to keep consumers in their ecosystems. If they don’t do this, they risk losing that sale to a competitor who does offer that content.”

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“Consumers rely heavily on their smart phones and are often ahead of retailers when it comes to mobile trends. As more retailers introduce mobile technology into brick-and-mortar stores, they’ll draw in consumers who are ready and willing to adopt new shopping habits. Consumers spend a great deal of time on their phone, using that technology to enhance their shopping experience as they see fit. For example, there has been a rising trend in consumers showrooming products on their mobile phones will they are browsing in-store aisles. As they stand in front of merchandise, they pull out their smart phones to check product reviews and browse other retailers to compare prices. Retailers caught on to this habit and have begun to add this information directly into their mobile-optimized sites and apps. They have increased the number of products reviews, ratings and pricing information to keep consumers in their ecosystems. If they don’t do this, they risk losing that sale to a competitor who does offer that content.”

Read Full Article