Retailers missing out on billions by not embracing mobile

UK retailers are missing out on 6.6 billion pounds of sales per year, due to a lack of investment in their mobile offering, according to new findings into mobile spending from the Centre for Retail Research (CRR).

Despite mobile sales being on the increase, the report reveals that mobile share of online sales almost doubled from 2013 to 2014, from 15 percent to 28 percent, one fifth of retailers surveyed still has no mobile offering, according to the research conducted by CRR and Vouchercodes.co.uk.

By not embracing mobile these retailers are missing opportunities as the number of shoppers spending on devices such as smartphones is set to increase even further, with the report revealing that 73 percent of consumers saying that they would spend more on their mobiles this year, while 62 percent said they would do so via their tablets. This compares to only 20 percent saying they would increase spending on PC.

The study also reveals how mobile features can help to drive consumers back into stores, with almost half of shoppers (44 percent) surveyed stating that they would be more likely to visit mobile-oriented stores in 2015, and more than a third (36 percent) also said they would spend more.

UK retailers missing out on 6.6 billion pounds each year by not embracing mobile

In addition, click and collect services were also noted as a driving factor in helping shoppers back into store, with 26 percent saying they would spend an additional 15 minutes in a store that offers click and collect, and spend an extra 18 pounds per trip.

The report also noted that while consumers are embracing mobile retailing, they noted that slow loading pages (64 percent), websites that freeze (49 percent) and too many products to sift through (46 percent) were the top three barriers for shoppers using mobile.

Vouchercodes.co.uk managing director Claire Davenport said: “The growth of online and mobile spending has already had a hugely positive impact on the retail sector. However, there is still a great opportunity being missed – and it is worth billions for retailers. Customers have expressed their intention to spend more on mobile devices, so now is the time to revisit mobile strategy to capitalise on this.

“In light of the continuing fall in foot traffic across high street stores, it’s encouraging to see that there are mobile features that can help attract consumers back into shops to spend. A combination of more established features, like click-and-collect, and forward-thinking technologies like augmented reality are spiking consumer interest.”