The future of retail is mobile. Yet, brands and retailers are failing to keep pace with consumer expectations.
That’s the opening word in a provided statement to MMW from the authors of the inaugural NewStore 2016 Mobile Retail Report.
Those behind the release say that they have taken a holistic research approach in the first in-depth analysis of 112 luxury, lifestyle and fashion brands to evaluate their mobile acuity online and offline.
Achieving an overall grade of C-minus, the retailers showed mixed adoption and integration of key technologies connected to how today’s consumers want to shop.
To determine the industry’s mobile retail grade, NewStore sent a team of secret shoppers to New York City to follow the customer and store associate journey, from app to aisle.
“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,“ said Michael Waldron, VP of Marketing, NewStore. “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 NewStore 2016 Mobile Retail Report details the modern shopping experience for the consumer and the store associate experiences, including the integration of mobile technology in searching and shopping, while praising “Top of the Class” brands in each category, and providing expert guidance for brands on “How to Make the Grade.”
So what did we learn?
“While consumers are living in a mobile-first world, the retail industry is stuck in the past. Brands know they must adopt a mobile mindset and incorporate mobile strategies to achieve the full potential of omnichannel commerce, yet few are doing so effectively,” said Stephan Schambach, CEO and founder of NewStore. “While technology solutions are readily available, many retailers are either not using them optimally or are still running on antiquated systems and processes. The only way to make omnichannel a reality is through mobile. The retail industry continues to buzz about mobile, but it lags in the implementation of such technologies in every aspect of the customer experience.”
To learn more, check out the full report here.