Analyzing the Impact Mobile Will Have on Holiday Shopping
Just because someone spends time in a store deciding which TV to purchase doesn't mean that store is going to get the sale. Retailers are constantly vying for shoppers and the competition to convert sales can be fierce. Amazon.com recently launched an app called Price Check that gives consumers the ability to scan a barcode, take a photo of an item or speak the name of the product to compare that store's price with Amazon's. The app has allowed Amazon to collect a wealth of data from brick-and-mortar competitors across the country. It also gave Amazon a last-minute opportunity to convert sales. On one Saturday in December last year, Amazon offered a 5 percent discount on up to three items to anyone who used Price Check and completed their purchase within 24 hours.
Some criticized Amazon's tactics for being unfair, but no one doubted they were effective. Expect other companies to follow suit. Smartphones make it possible for brands and retailers to determine what people are shopping for and to know which competitors are in play. Until that transaction is finalized, every consumer is fair game.
As the use of smartphones and tablets continues to grow exponentially, retailers must develop a mobile strategy that gives them an edge this holiday season. Optimizing the mobile web experience, giving consumers personalized incentives and leveraging data to convert sales will be critical for companies that want to adapt to the times and stand out from the competition.
Uzair Dada is the CEO and founder of Iron Horse Interactive, a multichannel marketing company.