Retailers are under enormous pressure to adjust both internal and customer-facing business strategies in order to keep pace with rapidly evolving consumer demands. But most are not evolving fast enough, according to “How Mobile is Transforming Retail,” a 39-country survey and report commissioned by The Economist Intelligence Unit.
The report identifies the three key mobile imperatives to retail growth:
• Addressing generational differences in shoppers;
• Prioritizing the user experience to attract and retain customers; and
• Closing the gaps in mobile shopping functionality.
About 60% of those polled use their mobile devices to comparison shop; and 76% say in-store staff using mobile devices to ring up purchases appeals to them.
“Mobile shopping continues to grow in its reach and breadth,” said Carolyn Whelan, the report’s editor. “But as demand for more sophisticated services picks up, particularly among Millennials, shoppers will be less forgiving of services that fall short. As retailers shift or expand their mobile service offerings, a cohesive strategy considering consumer capabilities and needs across multiple touchpoints, from the physical store to desktops and smartphones, is paramount.”