Mobile tech in stores could boost sales by nearly 150%
Retailers that "effectively deploy" in-store mobile technologies could enjoy as much as 146% sales growth this year, according to research from mobile services firm Stratix and global research and advisory firm IHL Group.
Those with successful mobile POS services saw a 24% average increase in sales last year compared to retailers that don’t implement mobility in-store, according to a press release on the research. Previously under-performing retailers — those with flat or declining growth — saw a 100% increase in sales for 2017 after deploying in-store Mobile POS. Stratix predicts another 47% growth for such companies.
Retailers without mobile services (or those not able to deploy it successfully) report various struggles, according to the report. Three quarters said they did not have the proper applications in place, 60% noted a lack of adequately trained store staff, 59% cited the scarcity of internal help desk support, 47% noted a shortage of acceptable payment options, and 45% said that managing mobile security is complicated and demanding.
In recent years in the U.S., consumers were more likely to encounter mobile point-of-sale opportunities at smaller retailers, while the likes of Target and Walmart dithered in an attempt to beat Apple Pay somehow.
Those days are gone, with both Walmart and Target now offering their own home-grown mobile payment opportunities and many others offering third party options.
Mobile POS, however, isn’t just a boon to retailers because it’s a payment option that many shoppers find convenient. It also fosters personalized experiences and opportunities for customers to interact with store staff. Associates often get opportunities to upsell and cross-sell merchandise, according to the research.
The findings are in line with what Stratix sees on the ground. "We’re not surprised by these findings," Stratix President and CEO Gina Gallo said in a statement. "[A]s the use cases and complexities for mobile has grown exponentially over the last 10 years, we see that most retail customers are seeking help with staff and support challenges."
And while the various issues reported by retailers have led to delays and snafus, developing such a system should remain a priority, according to IHL Group Principal Analyst Greg Buzek.
The holidays have served to only shore up mobile’s place in the shopping journey. Some 85% of consumers earlier this year said they "probably" or "definitely" would be using a mobile app for their holiday shopping, according to an October YouAppi study.
- press release via BusinessWire New Research Indicates Retailers Deploying In-Store Mobile Successfully Are Seeing Upwards of 146% Sales Growth
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