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Half of UK retailers plan increased investments in mobile

As consumers demand more social and location-based interactions, retailers recognise the need for m-commerce improvements, but budgets and legacy technology are barriers to investment.

OMNICHANNEL

Half of UK retailers plan increased investments in mobile

As consumers demand more social and location-based interactions, retailers recognise the need for m-commerce improvements, but budgets and legacy technology are barriers to investment.

New research from strategic information management company Stibo Systems reveals the primary technology challenges faced by retailers, largely led by the need for improved multi-channel strategies. The study found that cross-channel retailing remains a clear priority for UK retailers, with over three quarters (78%) of respondents stating that strategic investment to enhance consumers’ multi-channel experience will drive retail sales this year.

The study, which was undertaken in January 2012 by independent research house Coleman Parkes, surveyed 100 senior executives at the UK’s top retailers. The research found that retailers are finally recognising the importance of mobile commerce, with approximately half (48%) planning to enhance their mobile offering by the end of the year. Of those, 53% are looking to enable their online websites for mobile while 44% plan to facilitate mobile transactions.

The research also suggests that retailers are looking to invest in transactional mobile websites which are rich in multimedia and strengthened by detailed product information. However, retailers reported lack of budget (58%) and legacy technology systems (37%) as the biggest barriers to investment in these mobile strategies.

Meanwhile, the study identified a trend towards convenience, with 71% of retailers reporting a sharp rise in the number of consumers demanding same day delivery. Similarly, half of retailers state that consumers expect shopping on the move via transactional mobile sites.

Comprehensive product information was identified as the most important aspect of a retailer’s website in terms of product pages (56%), ahead of images (13%), consumer reviews (12%), links to similar products (9%) and rich content (8%). Retailers are also witnessing high demand from shoppers for detailed information about products, with over half (58%) stating that this was a top consumer requirement.

The Retail Bulletin’s 2nd Mobile Retailing Summit will take place in London 26th September 2012. Full details will be published soon – click here to register your interest as either a delegate or sponsor.

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