Summary
L.E.K. Consulting research finds that the rapid adoption of smart phones and tablets is changing how consumers are engaging brands and making purchases. The L.E.K. Mobile Commerce Survey provides new insights into consumers and identifies four findings that are impacting businesses:
- Driving Price Harmonization: The walls between physical retail space and the digital domain continue to disappear, which requires companies to differentiate their in-store value proposition or risk losing customers
- Fostering Deeper Customer Relationships: Many mobile consumers will share geolocation and other information if the incentives are right
- Increasing the Influence on Social Media: Consumers are bypassing traditional marketing and turning instead to independent reviews, friends and family for product recommendations
- Enabling Flash Retailers: Flash sales sites like Gilt Groupe and Rue La La are disrupting the market by capturing share of planned purchases from other channels
Sample Visuals
03112019110322