The dawn of mobile influence
Discover the value of mobile in retail
Smartphones in the hands of shoppers are rapidly becoming a major inﬂuence on UK retail sales. According to Deloitte research, by 2016, smartphones, used as part of a shopping experience, could impact 15-18% of in-store retail sales – an estimated £35–£43 billion.
If you are not doing so already it is time to re-double efforts, and focus resources applied to serving customers through their mobiles on their shopping journeys.
The inﬂuence of mobile on informing in-store shopping is set to grow by 200% by 2016 and mobile is becoming the key point of convergence for omnichannel – it is not something which can be ignored.
- When assessing the importance of mobile, several speciﬁc questions must be top of mind for Retail Executives:
- What market impact is mobile expected to have – now and in the future?
- How can mobile drive value, and incremental revenue and proﬁt for your business?
- How quickly do you need to move?
- And perhaps most important, how do mobile-related opportunities compare to other potential investments that are competing for your company’s limited resources?
When it comes to mobile, many retailers focus primarily on sales transactions conducted through mobile devices, or mCommerce. But recent research conducted by Deloitte show that there may be a more effective approach for determining the impact of mobile and how it inﬂuences and drives sales in other channels – particularly in-store sales.
According to our analysis, mobile (deﬁned as smartphones for this analysis) already inﬂuences 5.8% of all retail store sales in the United Kingdom – which translates to approximately £15.2 billion in forecasted sales for 2012. That projection far overshadows the £1.5bn forecasted for mCommerce sales in 2012. And we see this as just the beginning.
Based on our research, we believe we are at the dawn of a period that will see huge growth in the amount of mobile inﬂuence on in-store retail sales. Its inﬂuence is anticipated to grow by approximately 200% to 2016, to inform 15-18% of retail store sales. That amounts to £35–£43 billion4 in mobile-inﬂuenced store sales.