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Retail Intelligence: How mobile technology is driving a retail revolution

February 15, 2014
Profitero
Written By
Profitero

Today’s consumer is more connected than ever before thanks to the proliferation of digital devices and platforms. These changes are driving a retail revolution, with US consumers now owning an average of four digital devices, according to Nielsen’s Digital Consumer Report. 

Nielsen’s Digital Consumer Report examines how the everyday lives of US consumers are becoming increasingly interwined with the digital world – with trends in digital technology propelling consumers’ constantly connected lifestyles.

Two-thirds of Americans now use smartphones, enabling them to use their device throughout their purchase journey – both on the go and in the home. 66% of consumers use their smartphone to check prices, whilst 65% of tablet owners research an item before purchase.

As US consumers continue to take advantage of the convenience of anytime, anywhere browsing and shopping via their smartphones and tablets, Nielsen states that there is a huge opportunity for retailers and brands to capture the full path-to-purchase of the online shopping experience.

Mobile retail is fast gaining momentum: more than four in five (87%) smartphone and tablet owners use a mobile device for shopping activities. Whether consumers are searching for more product information or price comparisons whilst in-store, or shopping directly on their device from home, mobile commerce is empowering consumers and providing brands with new consumer touchpoints.

By adopting new technologies, consumers are forcing retailers to adapt and respond to their ever changing needs. Nielsen believes it’s more important than ever for retailers to have a clear view of what consumers are doing today to understand the implications for tomorrow. Delivering the same omnichannel experience on both price and product assortment is key to understanding and engaging the new digital shopper.

By adopting new technologies and leveraging the power of information, consumers are pressuring retailers to learn, adapt, and respond to their rapidly changing needs – See more at: http://blog.360pi.com/the-retail-revolution/#sthash.9MXz4dd6.dpuf

Discover how Profitero delivers critical online pricing intelligence to more than 40 global retailers so they can compete more effectively across all channels. Email us at sales@profitero.com or visit www.profitero.com to find out how we can help you grow sales and increase margins.

Profitero.com: Online competitor price monitoring for retailers and brands

About Profitero

Profitero is the leading global provider of online competitor pricing data. We provide both bricks & mortar and online retailers with their competitors’ prices, promotions and full product assortment information. Profitero’s accurate and timely competitor intelligence enables our customers to make better informed and more profitable pricing decisions, helping them to increase sales as well as margins.

More than 40 global retailers, including Staples, Sam’s Club, Tesco, Waitrose and Ocado, rely on Profitero Price Intelligence to:

  • Benchmark competitor prices
  • Manage their prices and promotions
  • Attract price sensitive shoppers
  • Negotiate better with suppliers.

Our pricing data can be seamlessly integrated into price optimization solutions such as Blue Yonder, Revionics and IBM DemandTec, to deliver more accurate and effective price optimization. Profitero is also the preferred supplier of online competitor pricing data to Nielsen’s retail customers across more than 100 countries.

To discover how Profitero can help make your pricing smarter, contact us at sales@profitero.com or visit www.profitero.com.

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