Merchandising is the art of selling products to your customer by making the product speak for itself. It is about making the customer base aware of certain things that they did not know they wanted to buy. In the recent past mobile commerce patterns has changed drastically. In late 2010 mobile commerce contributed to only 3% of e-commerce and more recently that number has shot up to 11%. Given the growth in the new eco system of retail and shopping apps, this number is expected to rise up to 15% by the end of 2014 which is approximately 18.6 billion USD of consumer spending.
One of the major reasons behind this tremendous mobile commerce explosion is impressive growth and cutting edge technological developments in mobile merchandising trends like mobile catalogs and coupons to activate mobile engagement. Online cataloging allows customers to know more about the product they are viewing and create an interactive sales experience within the showroom.
Here is a brief overview of why retailers and brands should consider mobile merchandising.
1) Driving Revenue: By 2014 the number of mobile coupon users is expected to increase to 53.2 million a year- comScore. Using smart mobile merchandising platforms retailers can create unique mobile experience and product promotion campaigns for their customers. Successful coupon campaigns help retailers to acquire new customers and drive in sales.
2) Gathering Data: Promotional coupons received online while scanning a QR code or with Push in Notification from NFC/Bluetooth/iBeacon are redeemed offline/in-store, this provides the retailers with a big opportunity to collect data on offline purchases and close the entire loop of mobile to in-store purchase.
3) Enhancing brand connect: Mobile merchandising, coupons code distribution, cataloging are another channel through which a brand communicates with its customer. A coupon code or a promotional offer is more of a content delivered by a brand exclusively for their consumer, definitely with an offer appended. If mobile merchandising is done in a unique manner it goes a long way to seal the bond between the consumer and the brand. It helps spread brand loyalty and convert footfalls into sales.
Mobile merchandising goes beyond a means to connect with customers having smart devices.It is a two way marketing methodology which helps in customer retention as well as adding new customer to your already existing pool.