Survey: Target and Apple take the lead in mobile shopping
Boston — Target was the most-browsed mobile app/site in 2013, and Apple’s mobile app/site is where consumers purchase the most, according to a new study from Mobiquity.
Compared to Mobiquity’s 2012 study of retail brands’ mobile apps and sites, the volume of mobile shopping has increased significantly in 2013, in some cases even tripling. For example, in 2012, 14% of consumers shopped at Apple using smartphones; in 2013, this soared to 49%. But mobile browsing does not always lead to mobile shopping — after browsing retailers’ mobile apps and sites, 35% of consumers went on to complete their purchase in-store. Fewer than 16% completed purchases on smartphones. Forty percent did not complete a purchase after browsing on a mobile device.
“The Mobile Shopping Satisfaction Report,” an independent study commissioned by Mobiquity, also found that, of the top 20 retailers, the mobile experience at Apple Stores, Best Buy and Kohl’s ranked highest for satisfaction among consumers shopping via smartphones and tablets. However, the study also revealed that these retailers’ apps and mobile sites are often slow to load, challenging to navigate and error-prone at checkout.
In other findings:
- Forty-one percent of smartphone owners and 43% of tablet owners claimed that they would be less likely to shop at a retailer if they had a poor experience using their mobile app or mobile website.
- Fifty percent of shoppers complained that shopping on retailers’ tablet apps involves too many steps; and 49% said they couldn’t find the products they were looking for on retailers’ tablet sites,
- Images were too difficult to see on 41% of smartphone sites and 35 35%of retailers’ smartphone apps.
- Only 9% respondents think that the mobile shopping experience is better than online. By contrast, 35% think it is worse.
“Mobile shopping has grown exponentially year-on-year but the mobile experience still has a long way to go before it comes close to matching or surpassing online shopping,” said Andrew Hiser, chief creative officer, Mobiquity. “Until retailers fix their design and UX issues, they will continue to leave money on the table.”
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Amazon’s quest to be most price-competitive retailer on Web
Analysis from price intelligence firm Profitero showed that Amazon.com makes more than 2.5 million price changes every day, compared with a little more than 50,000 total price changes made by brick-and-mortar retailers Walmart and Best Buy throughout November.
Profitero’s analysis also revealed that Amazon.com has increased its number of daily price changes 10-fold during the last 12 months. At the beginning of December 2012, the online retailer implemented just 269,113 price changes.
The extent of Amazon.com’s daily price changes is even more significant when compared with the number of daily price changes implemented by brick-and-mortar retailers Walmart and Best Buy. During November, Best Buy made a total of 52,956 price changes and Walmart a total of 54,633 price changes, highlighting the massive price advantage Amazon has over other retailers — and demonstrating why retailers need to monitor their online competitors’ prices every day to remain competitive on the market and avoid losing sales.
“It’s staggering that Amazon.com is making millions of price changes on a daily basis. The sheer scale of these price changes demonstrates why brick-and-mortar retailers need to be using an advanced online price intelligence solution if they want to compete with Amazon,” said Volodymyr Pigrukh, CEO and co-founder of Profitero. “Profitero predicts that the number of price changes is only going to increase as the retail landscape becomes more competitive, and so it’s impossible for any retailer to monitor this number of price changes manually. To understand where they stand against their competitors’ prices and avoid losing out on sales, retailers need to monitor Amazon’s prices on a daily basis. Profitero is the only online price intelligence solution in the marketplace which is capable of monitoring the prices of millions of products every day with the highest degree of accuracy.”
“Today’s hyper-competitive, omnichannel landscape compels retailers to incorporate all sources of competitive pricing data in their pricing and competitive positioning strategies,” said Rip Greenfield, SVP global alliances and business development at Revionics. “Incorporating Profitero’s competitive data with our price management and optimization solution ensures that retailers can systematically operationalize the use of this critical data to take actions that enhance both price image and profitability.”
Profitero works with more than 40 global retailers including Walmart-owned Sam’s Club, Staples, Tesco, Waitrose, Worten and Ocado and enable them to benchmark competitor prices, manage their prices and promotions, attract price sensitive shoppers and negotiate better with suppliers. Profitero collaborates with leading price optimization providers, including Revionics, IBM DemandTec and Blue Yonder. Profitero is also in a strategic alliance with Nielsen as the preferred supplier of online competitor pricing data to their retail clients.
NRF weighs in on congressional budget deal
The National Retail Federation is calling the short-term budget deal reached by Congress this week a step in the right direction for the economy and for retailers.
In a prepared statement, Matthew Shay, president and CEO of the NRF, said legislators must move past partisan differences to resolve lingering fiscal issues.
“The National Retail Federation welcomes the announcement of the budget agreement forged by Representative Paul Ryan, R-WI and Senator Patty Murray, D-WA,” said Shay. “This is an early and much needed holiday present for consumers and the businesses that employ and serve them every day in communities across the country.
“One of the most critical components to creating more jobs, encouraging capital investment and rebuilding consumer confidence in this country is economic certainty. That certainty and confidence can only come from lawmakers working together in order to avoid legislative gridlock and political brinkmanship. For far too long, Washington’s entrenched partisanship has hampered economic growth and opportunity.
“NRF urges quick passage of this budget agreement and encourages our elected officials to resolve pressing fiscal issues, including the looming debt ceiling debate, with a shared commitment of moving beyond partisan rhetoric and finding mutual agreement on legislative policies that provide economic growth and opportunity for all Americans.”