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In-Store Mobile Could Generate A 146% Revenue Boost in 2018 Featured

In-Store Mobile Could Generate A 146% Revenue Boost in 2018

Successfully deploying mobile in-store can drive up to 146% revenue growth for retailers this year, and may be a key investment decision for any retailer suffering flat or declining sales, according to a recent survey from Stratix and IHL Group.

Retailers that are deploying in-store mobile POS saw a 24% average increase in sales in 2017 over retailers who don’t implement mobility in-store, according to the survey. Additionally, mobile POS-deploying retailers that are underperforming, i.e. have flat or declining growth, saw a 100% increase in sales for 2017, and predict another 47% of growth in 2018.

Three items must be in place for retailers to achieve this mobile success:

  • Proper associate training on using mobile devices (to not lose eye contact);
  • Side-by-side transactions so customers can see what the associate is doing; and
  • The mobile device should not serve as a replacement, but as an enhancement to the sales process.

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Taking these steps can personalize the interaction between associates and shoppers. Moreover, sales associates can complete the purchase during the point of conversation as customers shop, offering the opportunity for them to upsell and cross-sell merchandise.

Five Barriers To Mobile POS Implementation

Only 34% of retailers have deployed mobile POS, while 42% have armed their employees with mobile devices without a POS platform.

While using in-store mobile resulted in monumental opportunities for some retailers, the survey’s data also revealed that many retailers face significant challenges implementing this technology. Five common setbacks are repeatedly mentioned, including:

  • Not having the proper applications in place: 75%;
  • Lack of adequately trained staff in-store: 60%;
  • Scarcity of internal help desk support: 59%;
  • A shortage of acceptable payment options: 47%; and
  • Managing mobile security is complicated and demanding: 45%.

“Choosing to focus on app development and support of the customer experience is the best use of retailer’s internal resources,” said Greg Buzek, Principal Analyst of IHL Group in a statement. “Selecting a trusted partner for the other key challenges revealed in this research is the best approach for most retail companies.”

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