The movement toward mobile payments has been a strong one, but brands and retailers have been slow to adopt to that change, according to a recent report, NewStore’s eponymous and inaugural NewStore 2016 Mobile Retail Report.
According to the findings, which looked at the adoption and adaption of 112 brands across retail, the overall grade came in at a perhaps underwhelming C-minus, which indicates missed opportunities. The mobile retail platform said that it sent “secret shoppers” to New York City, following retailers “from app to aisle,” according to an announcement associated with the report.
In a statement by Michael Waldron, VP of marketing at the firm: “For each retailer, we analyzed as many as 500 data points. We wanted to experience a brand from start to finish through the eyes of a consumer, while also analyzing the tools made available to store employees to fulfill their expectations. The grades may seem harsh, but this report is not intended to be fear-mongering. What this data doesn’t show is the momentum of the industry in the area of mobile retail. Many industry players are still in the process of mobilizing their brands, and over the next 18 months, we expect to see significant improvements in each category.”
The data showed that, among five categories germane to shopping, mobile experience came in at C-plus, with search and share functions at C and path to purchase at D. All categories were judged on technology implementation. Only 22 percent of brands and retailers, according to the study, offer mobile shopping apps, while one in five had real-time inventory management visibility through mobile devices.
We’re always on the lookout for opportunities to partner with innovators and disruptors.
Learn More