Mobile applications are helping consumers make payments more efficiently than before. However, they may also aid businesses in another way – by making their consumers more loyal.
Recently, Wanda Young, vice president of media and digital marketing at Walmart, told audience members at the Mobile Marketing Association’s SM2 conference that consumers who download the retailer’s mobile application spend more money than the average consumer, stated a report from Mobile Commerce Daily – and not just through mobile credit card processing terminals. The executive also stated that consumers who downloaded their branded mobile application were twice as likely to shop in-store at Wal-Mart as the average consumer. She feels that mobile applications with attached credit card processing solutions benefit both retailers and shoppers.
“It’s a great customer win because we’re giving them the tools that they’re asking for, but we’re helping them and allowing them to save time and money,” Young told the audience, according to Mobile Commerce Daily.
Mobile shopping may inspire customers to purchase products immediately as opposed to shopping around for the lowest price. The comScore study noted that More than 45 percent of shoppers say they are less likely to comparison shop than they normally are when they’re using a mobile application.
Individuals who shop on mobile devices also tend to engage directly with brands through other venues, helping to create positive word-of-mouth. Approximately 20 percent of mobile shoppers write comments about the products they purchase on social media after transactions are completed, according to figures released last month by Nielsen.
Walmart’s mobile strategy helps them find the right consumers
Young told the audience that more than 50 percent of Walmart’s shoppers enter the store with a smartphone, theoretically creating a brand new means of advertising for the retailer, according to Mobile Commerce Daily. Walmart even created an “in-store” mode that’s optimized for use by customers who look at the mobile application while shopping in a brick-and-mortar store, helping them to use promotions and budget their money more efficiently.
“We are listening to what our customers are telling us, and that is making its way into the development of this app,” Young told listeners, stated the news outlet.
The news outlet noted that Young identified the mobile market and branded applications as a prominent new extension of the retail industry. She felt that new research data and clear advertising standards could help to guide retailers toward creating effective mobile marketing efforts.Back To Blog