The report by the Boston Consulting Group shows that in 2014, mobile technology created 11 million jobs. Not only that, but it also helped amass 3.3 trillion in revenue. Indeed, mobile technology has been changing the business landscape.
That was just in 2014.
Mobile technology has developed in leaps and bounds since then, and various businesses have gained new ways of increasing their productivity and profits because of it. The retail industry, for instance, continues to benefit immensely from the convenience mobile technology provides. At the same time, it has also obtained new abilities to diversify its customer service provision.
With 1.6 billion people relying on their smartphones to shop, retail businesses should certainly be taking advantage of how mobile technology is growing.
How?
Listed below are seven ways competitive retail stores are capitalizing on mobile technology to improve their customer experience and ensuring loyalty.
Banana Republic is one of the retail stores that allows its customers to use their website deals for in-store transactions. All customers have to do is to save the order confirmation on their smartphones and show it to the store, and the store will honor the marked down price from the website.
This is a great program for savvy shoppers who are always looking for ways to slash the cost of their purchases.
Global cosmetic counters are allowing their customers to use a barcode scanning app to compare product prices. Even those that are just mere kiosks in department stores allow the use of this app. This gives them the opportunity to power up their discounts and rewards programs to effectively compete with stores offering similar products.
Customers delight in this program as it allows them to save on their purchases and even score freebies.
There are big department stores that offer an on-call stylist who is accessible through a smartphone as well as the store.
If you own a mobile phone plan with unlimited Internet service, you can just log into the store website wherever you are and work with an on-call stylist to help you pick out the perfect items for your wardrobe. This is a novel strategy department stores in Japan are using to compete with supermalls.
Customers can chat with the stylist and provide their requirements and simply pick up the items chosen for them at a convenient time. This makes shopping a breeze for busy individuals.
Retail stores are taking a cue from convenience stores. They are now tapping into the digital transactions of their customers and even social media activities (since stores now have Facebook, Twitter, and Instagram accounts) to be able to recommend the most suitable products.
Smartphone orders and payment options such as e-wallets are studied (customer analytics) to be able to determine customer preferences.
Retail and food establishments are netting in new customers by offering digital rewards for special purchases. Everything from discount coupons to rewards points delivered through a text message can be used by customers at physical stores.
Such rewards systems allow businesses to get creative, especially in directing their customers to behave a certain way. For example, their call-to-action for the rewards to be redeemed is done by passing on the marketing message to a total of three contacts. Another is by taking advantage of a product bundle.
The system benefits the business by locking in new customers, while loyal customers enjoy the rewards and privileges.
In 2018, Adweek reported that mobile shopping is on the rise. With faster phone Internet technology and more places with free WiFi, it’s no wonder there has been an increase in mobile shopping activity worldwide. This development has prompted both big and small retail stores to place their merchandise in alternative stores.
For instance, in Iraq, popular brands are now also accessible through the Souk phone app. So, people can now buy their products at the popular online market. The increased visibility, paired with the better convenience of using a smartphone app (definitely beats looking up the website of the store via the search bar) further increase the potential for sales.
This is what furniture giant Ikea did several years ago. With a special app for phones and tablet PCs, their customers can check if the products they are considering will truly fit into the interior design of their home.
The device camera, the app, and the store catalogue allow buyers to see through the screen of their phone if a piece of furniture will go really well with the room where it will be placed. This provision was greatly helpful in customers’ making well-informed buying decisions. Not only that, it also served as a source of amusement for clients.
The above are just seven ways.
As mobile technology continues to develop and phone companies design new plans to serve people’s convenience and new requirements, retail stores can be expected to come up with even more creative ways to improve their services and enhance customer experiences.
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