Findings:
50% of US shoppers use retail apps to get the best prices.
76.5% of US smartphone users are expected to use retail apps in 2024.
Consumers use retail apps for various reasons, including accessing loyalty rewards, getting tailored coupons, and checking sales/promotions.
47% of US retailers believe branded apps and loyalty programs engage shoppers.
40% of shoppers use mobile devices for price comparisons while in-store.
Retail mcommerce sales are projected to reach $534.88 billion in 2024.
Key Takeaway:
Mobile apps are increasingly important for retailers to engage customers and drive sales, both online and in-store.
Trend:
Shoppers are relying more on mobile devices throughout their shopping journey, from price comparisons to accessing coupons and loyalty rewards.
Consumer Motivation:
Finding the best prices.
Accessing loyalty rewards and personalized coupons.
Staying informed about sales and promotions.
Comparing prices and accessing discounts while in-store.
What is Driving the Trend:
The convenience and accessibility of mobile apps.
The increasing popularity of mcommerce.
The desire for personalized shopping experiences.
Who the Article is Referring to:
US shoppers, particularly those who use smartphones.
US retailers seeking to improve their mobile app strategies.
Description of Consumers/Product/Service:
Consumers are increasingly using retail apps to enhance their shopping experience.
Retail apps offer features such as price comparisons, loyalty rewards, personalized coupons, and information about sales and promotions.
Consumer Age:
The survey focused on US shoppers ages 18-65, indicating that the trend of using retail apps spans across various age groups.
Conclusions:
Retailers should prioritize mobile app features that cater to consumers' desire for value, personalization, and convenience.
Investing in mobile app development and optimization can lead to increased customer engagement and sales.
Implications for Brands:
Brands should focus on creating user-friendly and feature-rich mobile apps that offer value to consumers.
They should leverage data-driven insights to personalize the shopping experience and offer targeted promotions.
They should integrate their mobile apps with their in-store experience to create a seamless omnichannel shopping journey.
Implications for Society:
The rise of mobile app usage in retail could lead to increased convenience and accessibility for consumers.
However, it could also exacerbate existing inequalities, as those without access to smartphones or reliable internet may be left behind.
There are also privacy concerns associated with the collection and use of consumer data through mobile apps.
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