Friday, April 13, 2012

Emerging Online Retail Trends

Smartphones, Tablets and Internet...all of them are changing the consumer’s shopping experience for ever. As gadgets find more takers, shopping through devices is hitting new highs. While 17% of the U.S. tablet users check out products through their devices on a daily basis, close to 13% of the U.K.’s smartphone users have started doing a real-time price comparison on their handsets. And 36% of smartphone users in the U.S. buy products through their phones while present at stores.

Phone shopping on the rise

A survey conducted on UK-based consumers, who use smartphones, found that the most common use is to find out a store location, while taking a picture of the product remained the second most popular retail-related activity performed on smartphones. A look at the top 10 activities indicates that users are increasingly using their smartphones to gather information and key details of products before purchasing products and services. This is evident from the fact that activities like contacting friends and family via text, comparing prices and finding best buying deals via smartphones are on the rise.

Using tablets for shopping

Nearly half of the tablet owners in the U.S. made a purchase on their tablet indicating the growing importance of this media channel to the e-commerce market. For that matter, tablet users exhibited considerable use of their devices through out the purchasing process. While 56% looked up for product and price information for a specific store, close to 54% read consumer reviews and ratings before they purchased. Considering the increasing use of tablets, for retail brands, the platform may soon become a very critical part of their comprehensive digital marketing strategy.

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Source : IIPM Editorial, 2012
An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).

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