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August Trade: Poor Network Results, Concerns About the Deposit System
In addition, 45% of retailers believe that the development of m-commerce and mobile solutions is currently the greatest opportunity for the industry. Therefore, more than half of retail companies intend to maintain investments in the development of consumer mobile applications, and one in six to increase them.
Investments in technology development
Retail companies see huge potential in m-commerce and mobile applications. Increasing investment in technology development and adapting the strategy to the preferences of mobile consumers are key to success in a dynamically changing market. Currently, retail companies use many strategies to generate revenue through mobile applications. The most important ones include selling products or services, paid subscriptions offering additional benefits, and referral or reference programs. 64 percent, 32 percent, and 14 percent of respondents indicated this, respectively, in the Retail Barometer. In turn, companies' plans in this area for the coming year include increasing revenue from referral programs (27 percent) and premium service offers, such as personal consulting (14 percent).
– Consumers demand more from mobile applications than from desktop websites, especially in terms of speed and convenience. They are more sensitive to personalization mechanics and expect modern technological solutions. In return, retailers can expect a greater tendency to impulsive purchases and higher brand loyalty – emphasizes Izabela Franke, Head of Advisory at Future Mind.
Mobile consumer – demanding and loyal
Customers using mobile apps make purchases more often, make purchase decisions faster and are more aware, including when it comes to monitoring the best price opportunities and discounts. Mobile apps provide them with a more convenient, engaging and personalized shopping experience than other digital channels. This translates into increased loyalty and better sales results.
– According to Statista, 57% of customers prefer mobile applications due to their ease of use and accessibility. Creating unique experiences based on data analysis is key to understanding and meeting the preferences of mobile application users. The growing popularity of smartphones as the primary device for using the Internet and performing everyday activities, such as shopping, reflects broader changes in consumer behavior. Awareness of these differences can allow companies to better understand customer preferences and respond to their expectations more effectively – summarizes Marcin Zduńczyk, Business Solutions Analyst at Future Mind.
