Yankee Group Predicts Mobile Retailing will Transform Consumer Behavior as Shoppers Seek Deals
BOSTON --(Business Wire)-- Nov 20, 2009 Yankee Group surveys indicate that 63 percent of U.S. shoppers intend to spend less this holiday season, but a new trend offers retailers the chance to capture the attention of thrifty shoppers: mobile retailing.
Mobile retailing combines two concepts: consumer-initiated mobile commerce, which includes gathering information and purchasing products on a mobile phone, and brand/retailer-initiated mobile marketing, which targets mobile phones to distribute advertising, coupons and loyalty campaigns. Yankee Group predicts that as consumers try to maximize every penny being spent, mobile retailing will empower more deliberate and informed purchase decisions.
A Yankee Group report, “’Tis the Season: Mobile Retailing Will Transform 2009 Holiday Shopping,” reveals that mobile retailing will be greatly enhanced by a 50 percent increase in smartphone ownership over the last year. Further findings include:
* 31 percent of smartphone users have used their device to compare products or prices while shopping in a retail store.
* Of consumers who have used their device for comparison shopping, 40 percent changed their behavior, either by buying a cheaper item or purchasing from a different retailer.
* Despite the abundance of advertising, online product reviews and shopping blogs, 70 percent of purchase decisions are still made in the store, highlighting the unique role for smartphones this holiday season.
“Until recently, retailers have exercised a tremendous power over consumers’ shopping experience, dictating inventory, product information and endorsements,” said Christopher Collins, Yankee Group senior analyst and author of the report. “Use of mobile applications, social media and smartphones this year will shift that control into the hands of the consumer. Retailers beware: 2009 is shaping up to be a dramatically different holiday shopping season.”
About Yankee Group
The people of Yankee Group are the global connectivity experts—the leading source of insight and counsel trusted by builders, operators and users of connectivity solutions for nearly 40 years. We are uniquely focused on the evolution of Anywhere connectivity, and chart the pace of technology change and its effect on networks, consumers and enterprises. Headquartered in Boston, Yankee Group has a global presence, including operations in Europe, the Middle East, Africa, Latin America and Asia-Pacific.
