32% have 1 price comparison app on phone
According to a study commissioned by Tradedoubler entitled ‘Performance Marketing: Mobile & Shopping on demand‘, at least 32 per cent of respondents had one price comparison app loaded on their mobile phones. This was followed by coupon/voucher apps with 23 per cent; loyalty/reward apps with 22 per cent; daily deal apps with 20 per cent; and cashback apps with 19 per cent. Overall, Tradedoubler reckons that 52 per cent have at least one ‘performance marketing’ app on their mobile. So pricing is killing off brand loyalty thanks to mobile.
According to Dan Cohen, regional director with Tradedoubler, “Powerful brands are losing dominance on the high street because they’ve placed too much importance on brand loyalty and not enough on the price, value and variety of channels including mobile apps that shoppers now both expect and demand.”
Worryingly, of those using their mobiles in-store, 55 per cent of the shoppers surveyed have bought a product at a rival retailer after finding a better price via their mobile.
However, as vouchers can normally be redeemed in-store as well as online, they can be instrumental in helping retailers to encourage customers back onto the High Street.
Hence Tradedoubler argues that retailers must entice shoppers with competitive deals and offers to increase footfall via the mobile channel.
“Bargain hunting has gone mobile and if brands aren’t prepared with relevant and timely campaigns targeting shoppers who have at least one performance marketing app on their smartphone when they are ready to buy, they’re going to lose out,” Cohen warned.
Tradedoubler Insight Unit commissioned this UK research fromFox Insights. The survey was conducted online amongst 2,500 smartphone users who shop at least once a month online.