Retail Mobility: Navigating the 21st century Gold Rush

Cognizant the state of RETAIL MOBILITY How Top Retailers Are Getting In on the Action, But Still Missing Out The Mobile Age has arrived. Mobility is dramatically changing how customers shop and how retailers manage their business. Armed with a smartphone or a tablet, shoppers are leading the mobile revolution and retailers are forced to follow. To understand how top retailers have responded to the mobile phenomenon, we analyzed the mobile presence (Mobile Web and iPhone/Android Apps) of companies featured in the Top 100 Retailers list published by STORES.org. Our analysis reveals that though mobility is widely adopted by retailers, there is ample room for enhancing the customer experience. Mobility is Already Mainstream in Retail 83% Retailers that still do not have a mobile offering in of top retailers provide place have already AT LEAST ONE fallen behind the mobile offering industry 'standard'. The App vs Web Debate Rages On There is no clear platform "King" when it comes to iPhone, Android and Mobile Web 66% 67% 49% of retailers that have a have a mobile-optimized site mobile presence have an iPhone app have an Android app RETAILERS HAVE TAKENA SCATTER-SHOT APPROACH WHEN IT COMES TO MOBILE PLATFORMS MOBILE ANDROID IPHONE WEB 0% Few retailers have adopted an 'app only' strategy with none offering Android 3% apps alone. 12% 14% Only 1 in 3 of the top retailers has a mobile offering on all 3 platforms. 17% 36% M-Commerce is not ubiquitous yet, especially for Apps M-Commerce is not a 'Must Have' yet for apps. Retailers should carefully assess how important M-Commerce is for their mobile customers and not hold 73% 53% 45% on their Android apps on their iPhone apps of top retailers with a mobile web offering have enabled up other features just to commerce enable their apps. m-commerce on their mobile-optimized sites So, What's on Offer? MOBILE FEATURES OFFERED BY TOP RETAILERS gift registry 5% İPHONE APPS 17% MOBILE WEB loyalty 41% 25% list support 52% 37% up/cross sell 29% 42% rich media 47% 51% social integration 41% 59% shopping cart/payment 45% 73% product catalog display 76% 75% account management 78% 78% product search 71% 83% customer support 74% 83% deals & promos 78% SALE 83% store locator 81% 95% Current mobile offerings are falling short of customer expectations MOST RETAIL APPS HAVE NOT RECEIVED HIGH RATINGS 16% 14% IPHONE APPS ANDROID APPS 30% 64% 41% 22% 13% 0% Vital features are still missing Mobile Web É IPhone App OFFERINGS ARE NOT SOCIAL OR LOCAL 14% Mobile Web Integrate with Facebook "Like" 9% iPhone App 31% Product detail sharing on FB 29% Weekly ad view 27% based on location/ preferred store 24% (MOBILE) HELP IS ??? NOT ON THE WAY! 25% Mobile Web Detailed FAQS 29% iPhone App 36% Email Customer Support 33% POOR USE OF RICH MEDIA 19% Mobile Web Product videos 17% iPhone App 20% 360-degree product views 16% 32% Product zoom 29% SCANNING IS STILL SCANT 3% Mobile Web Product search via barcode scan 29% iPhone App 5% Product search via QR scan 22% Retailers need to re-assess their mobile strategies and take necessary steps to enhance the maturity of their current offerings. With deep experience in the retail business as well as mobility solutions across industries, Cognizant can help. Visit cognizant.com/retail to learn more, or contact us on Twitter: @Cognizant Cognizant