Today’s shopper is constantly connected, positioning mobile technology as one of the most crucial pillars of the retail environment. The recent trend of researching a product online before purchasing in-store is becoming increasingly notable; to rise to this new omnichannel phenomenon, bricks-and-mortar retailers must harness the habits of the modern savvy shopper to their advantage.
Competition has always been rife on the high street, and since the boom of online shopping, the challenges to attract and sustain customers have become all the more evident. New statistics from Juniper Research indicate that 23 billion m-tickets will be purchased by 2020. This research makes it apparent that the way we pay for goods and the platforms we use for this purpose are continually evolving. So how can the high street use mobile technology to their advantage?
Through working with mobile technology, retailers can now utilise data produced by their consumers to predict exactly where and when they will want to interact, before modifying the retail space to cater for those needs. Not only will this save time and money, but it will also significantly increase customer loyalty.
The rise of the m-ticket
We now live in an increasingly paperless world and mobile ticketing apps (m-tickets) are a great example of utilising multiple data points. M-tickets provide simplicity and control for the customer, and a beneficial prospect for the brand to glean crucial information about the habits of their customer database. This allows the business to quickly and efficiently refine the services they provide and create a compelling and interactive retail ecosystem for the customer.
The statistics extracted from these apps provide constructive information on the habits of the consumer; from their favourite sports team to their preferred coffee shop. Today’s customer now carries the software in their pocket and retailers have the means to communicate with their customers in a far more measured and personal way. Rewards and offers can be tailored to suit the tastes of one customer in particular as opposed to opting for a sweeping approach to sales promotions - which more often than not cause annoyance rather than trust in a brand. With the rise of m-ticketing, retailers can create a personalised high street shopping experience that can surprise and delight their customers with incentives and loyalty schemes.
For instance, the data from a consumer who visits a particular sports stadium every few weeks to watch their football team play gives the retailer the ability to capitalise on this habit by offering a free beer, discounted sandwich, or even a voucher code for sports merchandise.
Not only does this interaction create a tailored and meaningful relationship between brand and consumer, but by utilising the model from m-ticketing apps, retailers develop their worth in the eyes of the customers and have the capacity to change consumer behaviour patterns in a collectively favourable way by understanding where they travel and shop.
Just here at Corethree, we have seen around an 80 per cent growth of m-tickets issued in the last year alone and evidently, the ease and speed of mobile payment is rapidly becoming the preferred method of payment among shoppers. In light of the recent news that BHS is the latest major casualty in the boom of online shopping, it is now more than ever that retailers must embrace new technologies and the invaluable data generated from m-ticketing, or else remain at risk of further harm from the internet.
Ashley Murdoch, Founder and CEO at Corethree
Image Credit: Shutterstock/djile