In a study from Deloitte , they observe that in the UK that only 1% of mobile consumers have used their phones to pay for something, and may be the reason that Apple didn’t include Near Field Communication (NFC) used for contactless payment in their latest phone the iPhone 5 . Despite the surprising but important finding, smartphones have led to increased retail sales. Though sales aren’t processed on phones, their impacts on actual sales remain very high, and are only projected to increase with the surge of smartphone usage.
What are Some Other Noteworthy Findings of the Study?
- They observe that in the US apps and mobile websites led to a 5% more sales or $159 billion dollars worth of in-store sales.
- In the UK, the increase was 6% and equated to $24.7 billion dollars in retail in-store sales.
- With the rapid increase of smartphone use, they predict that by 2016 smartphone use will lead to an increase of 17%-21% or $628-$782 million dollars in sales.
- 46% of smartphone users have used their phones to research before or during a store visits
- 74% of consumers that visit a mobile site or app for a store make a brand purchase, compared to 66% who didn’t visit those and make a purchase
In a struggling economy, retail isn’t thriving as a business, and retailers needs to take these findings seriously if they want to succeed in the future! To take advantage of the changes and finding by Deloitte, retailers need to make sure to create a good mobile experience for consumers.
Additionally, a recent google study found that in the future, it’s highly likely that initiated physical, in-store purchases may lead to virtual sales from tablets or PCs. That means retailers should not only create a good mobile experience but should also prepare by providing good product information as a crucial part of maintaining virtual sales in the future.