A new report has been published highlighting the significant importance mobile will play in driving revenue growth for retailers across the upcoming festive period.
According to the inaugural 2013 Holiday Predictions Survey from Baynote – a provider of personalised consumer solutions for multi-channel retailers – and the e-tailing group, retailers across the US expect to witness a major upturn in their revenues from online sources this winter.
Up to 60 per cent of the almost 100 respondents to the survey stated they expect to see growth of at least ten per cent in their online revenues this Christmas, with mobile expected to play a crucial role in this upturn.
Overall, 53 per cent of respondents stated they expect mobile to account for a “significant” part of their holiday revenues, while 38 per cent added they believe the medium will drive a resurgence in interest in their store offerings.
This comes in stark contrast to the fortunes of social media this year, with 84 per cent of respondents believing a focus on this area will deliver little or no impact on sales.
Indeed, interaction via social networks is predicted to be a far less of a driver of growth in 2013 than in previous years, but this surge in mobile will more than make up for this.
Moreover, the timing of promotions is expected to be a major issue for retailers this year, with 40 per cent of businesses stating they will wait until at least early November before rolling out any festive deals.
Lauren Freedman, president of e-tailing group, commented: “While retailers have expressed cautious optimism for the 2013 holiday season, that optimism hinges on the ability to drive sales through strategically timed promotions in the fourth quarter.
“Retailers have made aggressive yet realistic goals for the season, and as a result, all eyes will be on bottom-line performance.”
Meanwhile, investment in technology continues to play a major role in retailers’ efforts to interact more effectively and directly with their customers, with 81 per cent of respondents stating they have invested in upgrading their ecommerce and mobile platforms ahead of the upcoming festive season.
Dan Darnell, vice president of marketing and product at Baynote, concluded: ”The data shows retailers recognise that next-generation ecommerce platforms with capabilities to drive a truly personalised and relevant experience will empower merchandisers to achieve increased engagement, revenue and ultimately lifetime value from improved relationships with customers.”
Overall, the survey revealed the majority of businesses feel mobile commerce opportunities will continue to steal some custom from physical stores for firms and it is therefore imperative they are making investment in this area I order to offset and downturn.
Furthermore, the report stated retailers expect to see a slow start to the festive season, with increased momentum being built from late November/early December onwards, as buyers take that little bit longer to get into the festive spirit in 2013.
It promises to be a bumper year for mcommerce in the US though and where the North American nation leads, businesses in the UK are often quick to follow.