Wednesday, March 28, 2012

How retailers can win the mobile shopper turf war.

A growing numbers of customers have a new and indispensable shopping companion—their mobile phone. Customers are upending their decision journeys and forcing retailers to follow. 

Wielding their mobile devices like smartphone samurai, customers can now check prices, compare product features, search for better offers, review digital offers, and place orders. Some 80 percent of mobile phone users who responded to a MEF Global Consumer Survey 20111 reported using a mobile device to research or purchase a digital or physical product. Our own research revealed that 69 percent of mobile users would delay buying or buy elsewhere after using their mobile device in store to check on a product. 

Retailer reaction to this trend? One part salivating at the opportunity to reach new customers and one part quaking with fear that the mobile consumer has so much power now. For these reasons, the response of retailers to this surge of mobile buying has become a boardroom issue. Early moves by retailers, however, often miss the mark. 

Read more here on the McKinsey & Co's blog.

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