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Beacons, Boomers, and Showrooming Buyers: the Retail Big Picture

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Beacons, Boomers, and Showrooming Buyers: the Retail Big Picture

Beacon technology has brought about an exciting change in how bricks and mortar retail stores can have a meaningful digital presence

· IoT Zone
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Today, the mobile landscape is changing not only the way retailers approach their online strategy — it’s reimagining the in-store shopping experience at brick-and-mortar properties, too. In fall 2015, Macy’s rolled out the largest beacon deployment in retail to date, with more than 4,000 devices powering engagement and marketing efforts throughout the department store chain. Other big brands have also gotten on board with m-Commerce as a method to bolster in-store sales. At Target, for example, customers in select stores using beacon technology are served with aisle location information and interactive maps, deals on products, recommendations on nearby items, and the ability to request the help of a nearby team member.

So, what’s the motivation behind these innovative digital campaigns? The lucrative future growth potential of the market. Looking at sales, 2017 will be a benchmark year – eMarketer projects that $75.51 billion, or 50 percent of all retail m-Commerce sales, will be transacted on smartphones. Not to say that the “now” of the m-Commerce market isn’t impressive enough: Nearly 70 percent of Amazon.com customers shopped using a mobile device during the 2015 holiday season, while 60 percent of holiday traffic on Target.com can be attributed to mobile sales.

The phenomenon isn’t contained to the retail big boys, though – statistics show a general uptick in m-Commerce activity. Traffic from mobile devices represents nearly 50 percent of overall online U.S. retail traffic, according to IBM Digital Analytics Benchmark. Not only are more consumers frequenting online retail sites via smartphones than ever before, they’re becoming more comfortable completing purchases on the smaller screen. In a study by Synchrony Financial, 45 percent of all respondents said they used a mobile device to perform a shopping-related task (like researching, sharing, purchasing or reviewing) in 2015. And according to eMarketer’s latest forecast, 95.1 million Americans ages 14 and older, or 51.2 percent of digital buyers, will make at least one purchase via a smartphone.

These “whenever, wherever” m-Commerce buyers present a major opportunity for retail: Deloitte estimates smartphones will influence 19 percent ($689 million) of U.S. retail sales this year. But to stay ahead of the m-Commerce curve, the industry needs to be in constant search for new, innovative ways to share the shopping experience with a customer’s small screens.

To capture a snapshot of this rapidly shifting landscape, Apteligent released Beyond Cyber Monday: Retail and the Mobile Commerce Big Picture. This guide presents a snapshot of mobile commerce today and our projections on the big picture for retail – and shares ways Apteligent can help brands maximize peak mobile sale days and connect with customers 365 days a year.
Key findings reveal the impact of the m-Commerce boon: 2015 holiday season sales on mobile devices hit $12.65 billion, up from $7.98 billion in mobile sales during 2014.

However, the white paper also explores how different buyer segments engage with retail via mobile. At this point, everyone knows that Millennials are the most voracious users of mobile. But our report drills a little deeper into their core m-Commerce behaviors. For example, did you know not only do 68 percent of Millennials make purchases via a mobile device? They’re also more likely to share their experience with others – if it’s a good one. Seventy percent of Millennial consumers will recommend a shopping app if experience is a delight and highly effective. However, they’re as likely as their more laid-back Gen X counterparts to let a negative app experience slide. It’s Baby Boomers brands need to worry about: This age group will go out of its way to leave a bad review if they have a poor experience with an m-Commerce app.

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Topics:
beacon ,iot

Published at DZone with permission of Chris Beauchamp, DZone MVB. See the original article here.

Opinions expressed by DZone contributors are their own.

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