Forget their role in m-commerce. Smartphones' and tablets’ biggest impact is on in-store sales.
According to the latest numbers from Deloitte, smartphones influenced 19% of all in-store purchases in the past 12 months, up from 5% in 2012. That means almost $600 billion of brick and mortar retail sales were impacted by mobile devices. For comparison, total annual m-commerce sales were $40 billion.
Americans spend more in retail stores because of their mobile devices, not less, as businesses fear. 18-29 year olds are especially likely to have increased brick and mortar spending due to their smartphones. 29% say their in-person shopping grew because of their devices vs 15% who assert it shrunk.
How are mobile devices impacting physical store sales? Over 50% of consumers prefer to look up an item price, get product information, and check stock availability on their mobile rather than talk to a sales associate. Almost as many would like to find the location of items and pay for purchases on their device as well.
Deloitte projects that the impact of mobile on brick and mortar sales will increase dramatically throughout 2014 as more and more consumers transition to smartphones and acquire tablets.
What are the implications for your business?
- Have you spent enough time and money optimizing consumers’ access to item prices, product information, and stock availability on their mobiles?
- Have you started exploring mobile payment systems?
For help developing powerful digital strategies that work, compelling marketing strategies that drive results, strategic plans that deliver growth, or new products that consumers love, contact Brandology at 925-417-2253 or Maura@Brandology.com.
Sources: Deloitte Digital 2014, Gallup 2014