Study reveals 3 rules of mobile retail
NEW YORK — Retail is a lot like real estate – it’s all about location, location, location.
At least this is the conclusion of the fourth annual Mobile Path to Purchase study from location-based marketing provider xAd. The 2015 report reveals that 35% of U.S. shoppers who researched their impending purchases on their mobile device expect to buy within the hour.
In addition, those who research goods and services on the go are nearly twice as likely to purchase within the hour than those at home, and have a greater likelihood to convert in store.
Also, 2015 is the first year where mobile use at home surpassed on-the-go. One-third of consumers searching at home will go on to complete their purchase on their mobile device. Half of consumers wanting to make a transaction within an hour expect to travel up to five miles from their current location.
Other notable findings include:
Forty-four percent of consumers report their mobile devices as being the most essential aid to their decision.
Smartphone owners under 35 are three times more likely to rely on their smartphones as their primary source of information than consumers over the age of 55.
For quick and frequent purchases from restaurants or groceries, nearly two-thirds of respondents rely solely on mobile to research buying decisions. But even one in six consumers who used their devices for a research-intensive vehicle purchase did not rely on any other media.
In 2015, more than half of consumers visited a business as part of their research and year over year, in-store smartphone usage is on the rise, increasing by four times since 2013.
Sixty percent of consumers who used their smartphone to research decisions in-store made a purchase at the physical location, compared to 35% who ultimately purchased online.