Shoppers using smartphones to compare prices are more likely to make an in-store purchase than non-smartphone users. The Mobile Influence Factor states that the research, comparison, and other applications smartphone users engage in; influences about 5.1 percent of yearly retail store sales.
In the year 2016, smartphones influence will grow enough to account for 19 percent of total retail sales—which means $689 billion in sales—whereas direct mobile commerce sales is estimated to only exceed $30 billion in that same time frame. Kasey Lobaugh explained that merchants need to offer the proper data, and the functionality that consumers need to make informed decisions while shopping.
Survey findings reveal that almost half of all smartphone owners state that their phones have helped them come to a decision on a purchase. More than half of users who use their smartphone to shop, do so while out shopping. Nearly 37 percent of owners used a third-party app, and about a third used a retailer’s mobile app. Young people are more likely to use their phones to shop. According to Mr. Lobaugh, storeowners need to understand how people interact with their store, and create a specialized marketing strategy that focuses on the customers’ needs.