Deploying in-store mobile can help retailers drive revenue growth up to 146%. That's according to a new survey from Stratix, in partnership with global research and advisory firm IHL Group, which found that retailers who enabled mobile POS technology saw an average sales increase of 24% in 2017.
Even as many physical stores are suffering and reported flat or declining growth last year, their mobile POS still saw about a 100% increase in sales and they predict another 47% growth in 2018.
“At Stratix, we’re not surprised by these findings,” said Stratix president and CEO Gina Gallo. “As the largest pure-play managed mobile service provider in North America, we work with enterprise customers daily on providing scalable deployment and support models for their line-of-business mobile environments. And, as the use cases and complexities for mobile has grown exponentially over the last ten years, we see that most retail customers are seeking help with staff and support challenges.”
According to the research, retailers who deploy in-store mobile effectively this year will have an increase of 146% in sales for the year.
Stratix believes these sales increases may be attributed to the personalized experience that comes with mobile. Plus, sales associates can complete a purchase at the point of conversation when mobile is available, giving the consumer another opportunity to purchase additional merchandise.
But it seems many retailers are not capitalizing on the in-store mobile technology. The most common setbacks retailers cited in the report include:
1. Not having the proper applications in place, 75%
2. Lack of adequately trained staff in-store, 60%
3. Scarcity of internal help desk support, 59%
4. A shortage of acceptable payment options, 47%
5. Managing mobile security is complicated and demanding, 45%
"Based on the survey’s findings, it is clear that Mobile POS is an integral part of the planned enhancement of the customer experience at the store level in 2018 and 2019. Despite the strong potential financial improvements that have been experienced by retailers enjoying the technology, there have been many reasons why other retailers have delayed the deployment of mobile devices due to the many challenges being able to do deployments effectively and achieving ROI targets," said IHL Group Principal Analyst Greg Buzek.
He continued: "Choosing to focus on app development and support of the customer experience is the best use of retailer’s internal resources. Selecting a trusted partner for the other key challenges revealed in this research is the best approach for most retail companies.”