04.14.2016

Successful Retail Brands Are More Mobile-Savvy Than Their Competitors

A new study from RSR Research titled “Mobile in Retail: The New Normal” found that successful retail brands (defined by 4.5% year-over-year sales gains) are more likely to experiment and optimize their mobile programs, compared to less successful retail brands.

In other words, successful retail brands also happen to be more successful in mobile. This shouldn’t come as a surprise to those of us in retail, and it certainly won’t shock consumers, either. Mobile outgrew its niche label long ago for retail marketers, and our team at COHN knows that any strategy that neglects mobile will face an uphill battle to gain traction.

Ultimately, the RSR Research report serves as further evidence that mobile is a driver of success in retail, but it also provides a few other interesting takeaways worth sharing:

In-store mobile technologies (beacons, NFC point of sale) grew significantly in perceived value for retailers from 2015 to 2016.

Successful retail brands (deemed “Winners” by the report) are significantly happier with their mobile strategies than their “Non-Winning” counterparts.

51% of “Non-Winning” retailers say budgeting and ROI challenges are the reason they haven’t been able to take advantage of mobile strategies. The report suggests these retailers “haven’t gotten past the boardroom discussions” to fund successful mobile strategies

Bottom line: Mobile is here to stay, and those who control marketing budgets should strongly consider equipping their teams with the funds to take advantage of all mobile has to offer.

 

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