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Making the Most of Mobile: Part 1

First portion in our two-part series to help you make the most of mobile. The series will contain six specific recommendations based on the unfolding new reality for store-based retailers. To learn the first three, read on. 

“By 2017, 2.5 billion people will own smartphones and 905 million people will use tablets at home and work—nearly three times as many as in 2013.” Ted Schadler, The Mobile Mind Shift 

We are enthralled by our mobile devices, and fueling this is their ability to help satisfy our needs in the moment, as they arise. The result is a paradigm change for retailers, and a huge opportunity. However, brands must once and for all put away the notion of online and offline. The world now has an omnipresent retail gradient laid over its surface, which anyone can tap no matter where they are. We live in a Retail Matrix. Yet, many brands and retailers still view mobile in only a linear manner when it is really much more than that. Mobile is the connective tissue of a new world order.

According to Deloitte research84% of consumers report using mobile devices for shopping-related activities before or during their most recent trip to a store. Brands need to recognize the impact of the Retail Matrix now, but how are companies expected to thrive in this all-encompassing retail milieu?

Here are three out of six specific recommendations based on the unfolding new reality for store-based retailers.

Step 1: Anticipate an exponential shift from desktop to mobile

Eighty percent of smartphone owners are smartphone shoppers yet ecommerce systems that are in use today are built around the model to deliver HTML pages to the browser. Ecommerce revenue is now under pressure due to increase in mobile traffic combined with poor conversion rates resulting from non-native designs. Traditional ecommerce platforms were not designed for the mobile age.  They were built to take commerce from in-store to desktop, including smartphones were never part of the big picture when implementing the commerce platforms a decade or so ago. 

Step 2: Invest in native apps - not just web apps

Eighty percent of time on a smartphone is spent in apps, versus only 20% in browsers. Granted much of this exists in social apps, but pause for a moment and consider why. The experience is wonderful. This is due in part to native apps responding more fluidly to user gestures, such as swipes and taps.  More importantly it fits the way we want to consume information, thus creating a huge upside for retailers who create “kick-ass” native experiences. Properly built native shopping apps can eliminate forms, shopping carts, emails, registrations, passwords and other barriers to impulse purchase. 

Step 3: Understand the tectonic change represented by mobile payment methods (Apple Pay, PayPal, Android Pay)

Not only are mobile payment methods more convenient for the user, they are now more secure than traditional online credit card payment. Apps are vetted for malicious components before going to the app store, therefore making mobile shopping safer than desktop shopping. For these new one-touch payment options, you only pass over an assigned token ID to the merchant instead of full credit card number and personal information. 

For the remaining three steps to future-proofing your brand using mobile-first technology, read Part 2.

To learn more about these six steps in greater detail, download our previously recorded webinar with Stephan Schambach.

Download Recording

 

Stephan Schambach, Founder & CEO

Stephan is a serial entrepreneur with a proven track record of creating and growing successful tech companies in the United States and Europe. Under his leadership and vision, he brought Intershop and Demandware to IPO's with multi-billion dollar market caps. As Founder and Chief Executive Officer of NewStore, Stephan is setting out to change the market once again. This time by solving the omnichannel problem facing so many retailers and brands.

Topics: mobile payment methods

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