Mobile retail shopping is set to rise again in 2018 and is predicated to account for approximately 45% of all sales by 2021, according to a Business Insider Intelligence report emailed to Retail Dive named, “So where is the investment needed?”.

With phone users now spending on average 3 hours per day on their smartphones, there is currently a big debate as to where retailers should be investing in technology to sell their goods. Should it be in Apps or Websites or Social Media? In the recent report, 51% of sales were made by in-app purchase whilst 49% were made online, presenting an almost 50 -50 approach at this time.

The fact is that it has taken well established and long running retailers many years to see the value of an online presence and to adapt their business accordingly. Seeing the benefit of targeting online sales within their marketing programme has inevitably led to some late adopters being too late to establish their presence, such as the likes of UK stores, Woolworth & BHS. Most of the big players now have good performing e-commerce websites, however getting them to now evolve into App technology is proving yet a gain to be a struggle for some retail businesses.

Mobile Retail can lack skill-set and investment

The primary issues faced with mobile retail are skill-set and investment. Knowing how the technology works and who to employ to manage it can be tough, as like with other technology software there is never one size that fits all.  Alternatively, creating a smartphone web friendly e-commerce shop seems like the cheaper and safer option for businesses who are already familiar with the technology as they can draw on several resources for support.

Right now, what is clear, is by investing into both App and Website platforms for mobile retail is a good method for retail businesses. By providing a seamless system which crosses between App and Web, whilst interacting with Social Media, will be key to the future of online retail.

For further information of our online retail insurance packages and to find out how we could help to protect your business, please contact Crendon Insurance Ltd. Our experienced team cover many areas on Online Retail insurance including mobile retail, the storage and transportation of stock, FBA & drop-shipping methods, plus much more.

 

Blogs used to write this article: