Why every retailer needs an app

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Why every retailer needs an app

By Louisa Hallett - 08/23/2018
Retailers looking to increase their sales should pay attention to mobile app usage trends.

As mobile shopping becomes increasingly more common, consumers are downloading retail mobile apps at double the rate of years past and conducting more in-app purchases.

According to the Synchrony 2018 Digital Study, the mobile channel is becoming more critical for retailers, as 67 percent of consumers have downloaded a retailer’s app. Consumers are leveraging the apps to buy, browse, read product reviews, access coupons and find a local store. More than half of those did so specifically for a coupon or discount offer. Nearly half of consumers that have downloaded a retailer’s app use it for purchases.

“In today’s competitive landscape, a mobile application is not just another piece of technology for retailers, it is a vital tool to engage shoppers with their brand. Done well, retail apps engage both in and out of stores with personalized experiences and easy credit solutions,” said Maya Mikhailov, SVP, Chief Marketing Officer, GPShopper, a developer of mobile apps acquired by Synchrony in 2017. “Consumers that use retail mobile applications are a retailer’s top shoppers. As such, they want their apps to be tailored to their unique shopping experiences and preferences.”

As retailers develop mobile apps, survey Synchrony says that there are three main points retailers should focus on having within their apps:

  1. Provide a consistent customer experience across all channels – mobile is the driver to bring together all the user experience opportunities.

  2. Engage with customers in a personalized manner by leveraging data and analytics -- provide unique offers and discounts via mobile to further extend brand loyalty.

  3. Offer simple and easy payment solutions that are seamless and secure; create an in-app frictionless mobile commerce experience.

Synchrony commissioned the 2018 Digital Study in order to gain insights on consumer behavior and trends in digital shopping. It was a self-administered online survey executed by Rothstein Tauber (RTi Research) with a base of 1,255 respondents. The 2018 Digital Study is the eighth annual survey that Synchrony has conducted on digital shopping trends. All references to the population and consumers refers to 2018 Synchrony Digital Study respondents.

To read the full report, click here.

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