Orlando Retail Insurance: The Value of Mobile in the Shopping Experience
Mobile use is growing rapidly, and retailers are taking notice. More customers than ever now rely on their smartphones to make shopping purchases- so how can retailers capitalize on that in developing their mobile strategy?
A McKinsey article by Aaron Shapiro, CEO of digital agency Huge, describes a formula customers use to make their purchase decisions. It is know as TCPF: trust, convenience, price, & fun. Here’s how the formula fits into mobile use and why it is so essential to have a concrete, consistent mobile strategy.
Trust. A basic component of retail strategy, trust is essential for building a long term relationship between a consumer and the brand. (One need only to look at Lululemon’s current woes to see the damage of what can happen when trust is broken.) A retail company’s mobile presence should be consistent with the rest of their brand. If you pride yourself on customer service, that should be a forefront feature of your mobile site too.
Convenience. Arguably the driving factor of mobile shopping, convenience is a huge influencing factor in a customer’s use of mobile technology. Thus, a retailer’s mobile site should be optimized for easy use, from in-store apps to ordering items online. Especially in the small screens of smartphones, a clean, well-designed user interface is crucial.
Pricing. Mobile has forced retailers to be completely transparent in their pricing. With a few clicks, shoppers can pull up a competitor’s site and compare prices to get the best deal. If you’ve built up a strong brand presences and seamless mobile site, customers will pay more for trust in your brand, convenience, and a better overall experience.
Fun. Price, convenience, and trust aside, consumers often purchase things for one simple, guttural reason- it’s fun. Fun can trump convenience, price, and any sort of rational behavior. We buy things simply because we want them. Mobile represents a unique opportunity to make the shopping experience interactive for consumers, even when a salesperson isn’t present. From in-store shopping apps, to interactive games to creative shopping experiences, it represents a new avenue for retailers to engage with their customers.
At Newman Crane, we have Orlando business insurance plans to protect your orlando retail operation from a number of potential losses, including liability and property damage. Contact us today for more information about our Orlando Retail Insurance programs. (407) 859-3691