Synchrony Financial: Retailers Need a Comprehensive Mobile Strategy

Synchrony Financial Retailers Need a Comprehensive Mobile StrategyOn Monday, Synchrony Financial — a consumer financial services company — shared with MMW the findings of its freshly released 2015 Digital Study.

The revelations further confirm the importance of “a comprehensive mobile strategy for retailers to effectively engage shoppers and enhance the customer experience.”

The survey, conducted recently with some 7,000 Synchrony Bank cardholders and other shoppers nationwide, was designed to probe how customers view mobile technology for shopping.

Among the standout findings:

  • Almost 50% of survey respondents are now shopping using a mobile device.
  • Almost one-third are purchasing a product after seeing it on social media.
  • Approximately one-third of survey respondents indicate that text offers would drive an incremental shopping visit.
  • Value propositions, including free shipping, loyalty programs and personalized offers, continue to be important.

“It’s clear from our research that shoppers across every segment are becoming more mobile-enabled and savvy, using all digital resources available to them to shop and purchase in and out of the store,” said Toni White, chief marketing officer at Synchrony Financial. “Retailers who focus on creating an integrated customer experience across all channels can differentiate themselves.”