In-Store Retail Forecast: Heavy Mobile With a Chance of Beacons
2015 may finally be the year of in-store mobile, and it's been a long time coming. Deloitte recently found that 84 percent of shoppers use digital devices while shopping in-store, and those who do convert at a 40 percent higher rate. From my company's partnerships with Target and other retailers, we've also found that shoppers who use an in-store feature (e.g., store maps or search filtered for in-stock items) are 50 percent more likely to visit and use the app in-store.
While mobile conversion rates may be low, there's no doubt that the devices have a huge impact on in-store purchase decisions. Retailers can't ignore mobile in-store any longer. Here are the top mobile and retail tech trends to look for in 2015:
Last year, most retailers were trying to understand what a beacon is, how it works and how they could use it. In 2015, you'll find retailers move past learning and proof-of-concept projects to actually piloting and deploying beacons.
More and more retailers are using the store as a distribution center, blurring the lines between physical and digital and enabling consumers to shop in ways that meet their needs. Retailers will look to streamline in-store fulfillment by building out curbside programs and services that make it easier for store associates and partners to pick, pack and ship.
Point-of-Sale Systems and Mobile Payments
Obvious transitions are happening in the point-of-sale space, paving the way for the death of the cash register. In 2015, we'll see more mobile checkout options in-store and fewer queues at the front. With the rise of PayPal, Square and, recently, Apple Pay, there's no question that we'll also see movement in the mobile payments space. Disruption will be slow however due to legacy platforms, with the overall transaction level lower than 3 percent.