UK retailers could add £10.5bn to their collective turnovers if they prioritised making it easier for shoppers to buy online, focused on mobile, a new study suggests. But in reality, found the report from Barclays Corporate Banking, retailers are prioritising in-store investment rather than focusing on mobile devices, which can so usefully link the store and online.
The report, From Browse to Buy: the conversion challenge, draws on findings from 300 senior retail managers, 2,000 UK consumers as well as economic modelling, and concluded that suggests that shoppers are abandoning goods worth £3.4bn in virtual shopping bags each year, prompted by factors including customer behaviour that sees shoppers add goods to baskets on a mobile phone but then switch to a desktop to buy.
It suggests that by streamlining online buying, retailers could collectively save up to 614m hours of consumer time over the next five years.
However, its analysis found that even though shopping on mobile phones was increasingly popular, just 16% of retailers said it would be a top priority for them, and 19% plan to develop a dedicated app. Instead, 79% are planning to focus on in-store sales.
Ian Gilmartin, head of retail at Barclays, said: “At a time when cost management is a priority, it’s understandable that investment in mobile optimisation may seem too expensive for many retailers. However, our research underlines the longer term benefit of providing easy to use options across all online platforms. By adapting quickly to the needs of today’s consumer to create a better shopping experience online, and particularly via mobile, retailers will boost their sales.”
InternetRetailing mobile editor Paul Skeldon has more on this story here.
Very.co.uk [IRDX RVER] will use shoppable video content in a campaign running with Bauer Media titles including Grazia and heat.
The campaign is built around mobile and desktop enabled shoppable videos that aim to build fashion credentials for the V by Very collection and will feature brand ambassadors and stylists from Grazia, heat, Closer, The Debrief and KISS showcasing key investment pieces from the range.
Users will be able to choose items to style a bespoke outfit, changing key pieces depending on occasion or mood. The video content will allow users to select items to style a bespoke outfit, changing key pieces depending on occasion or mood. Accompanying social activity will give weather relevant outfit suggestions and tongue in cheek commentary on the week in fashion.
The campaign reflects the fact that 62% of 2016 online sales at Very parent company Shop Direct were via mobile devices. That meant Very was looking for a creative solution to capture consumer attention quickly on smartphones.
Andrew Roscoe, head of brand at Shop Direct [IRDX RSDG], said: “In the fiercely competitive online fashion market, we’ve only got seconds to grab our audience’s attention on their smartphones before they swipe on. That’s why we’ve worked with Bauer on an innovative and impactful campaign, which will be relevant and inspire our target customer for V by Very. We’re proud of this work and can’t wait for it to land.”
Lucie Cave, editorial director, commercial content at Bauer Media, said: “We know that visual storytelling is key for our audiences, and that they trust our premium brands and editorial instinct to advise and guide them on their fashion decisions – especially with an overwhelmingly large range of choices available. This campaign demonstrates how we are leading the way in retail technology and digital creativity, building bespoke solutions for clients to meet their business objectives, whilst delivering a trusted voice to consumers.”