Ann Arbor, Mich. -- The use of mobile applications for shopping purposes doubled in the past year, with 41% of consumers actively using mobile apps while shopping, according to CFI Group’s Retail Satisfaction Barometer survey.
The study found that 67% of 18-34 year-olds use mobile apps during their shopping experience. While Millennials are typically the focus of retailers' mobile efforts, most consumers of all ages indicated that they have two to four shopping apps installed, proving that mobile isn't a generational-only trend.
"It is crucial for retailers to keep up with advanced mobile capabilities to maintain high customer satisfaction," said Terry Redding, VP of sales and marketing at CFI Group. "With consumers' demands to use mobile devices as a shopping tool, retailers must know how to connect with them digitally."
Of those surveyed, 47% of mobile application usage is dedicated to checking product prices at competing retail brands. This is one of many reasons why retailers need to engage digitally with their customers. One way retailers currently do so is by sending offers through their mobile devices – and it works – 45% of consumers redeem coupons and offers received via mobile.
Of the survey respondents, 51% indicated they would be very likely to use mobile apps to speed-up the checkout process when they become available. Almost half of all participants reported that they would favor a store with advanced mobile capabilities – which would encourage them to shop with the retailer more, buy more per visit and even pay slightly more.