Our specialty retail mobile team has been diligently working with our clients to optimize the use of emerging mobile technologies to drive the Connected CRM value proposition for retailers.
Here is a snippet of our latest use cases and thinking on the topic:
- Retailers with heavy discounting business models need to develop a thorough mobile understanding: Mobile simply augments & accelerates the consumer’s ability to engage in search, content sharing and discounting. This trend is not slowing down. Regardless of how the retailer has embraced mobile, this trend will have significant implications. By the way, we have some nice customer references here!
- Consumers and retailers are seeking lower cost of transactions: Based on consumer adoption and maturing technologies, capabilities such as the mobile wallet, passbook, and reduced-cost payment infrastructure expose a big flaw in the retailer’s thinking. PayPal, SAIL, and several other wallet providers offer transactions at lower rates than Visa, MasterCard and AMEX. Target, Wal-Mart, etc. are building private payment networks. Imagine a transactional cost savings of 1% - 2% on all (or a portion) of the credit card transaction fees. Will retailers embrace that? Of course they will!
- Consumer shopping experience: Retailers investing in a holistic consumer shopping experience (offline and online) will be able to properly engage the consumer through mobile, not as a stand-alone channel and not as a discounting tool. The sooner retailers realize that mobile connects to all other forms of media and channels, the better off they will be. Responsive design is a big step forward for retailers because many simply can’t afford silo’d investments.
- Winners and Losers: This all puts tremendous pressure on the retailer to personalize and get the consumer engagement right. Retailers that are not able to make the shift will most definitely lose.