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Brands Continue to Leave Revenue on the Table

Posted by Marcus LaRobardiere on Dec 12, 2017

Every time I get the opportunity to present the Mobile Retail Report to brands, pencils always sharpen when we get to the “Path to Purchase & Fulfillment” section of the research. Why? It’s the area most directly tied to revenue, or in some instances lost revenue. If retailers focused their attention on this part of their business – and there’s focusing to be done as brands only scored an average of ‘C’ in our research – it could significantly improve their bottom line.While you can download the report for greater detail, here are some highlights from the research:

The Good

Fields, particularly on mobile, are a major reason conversion rates take a dip. Retailers are taking note, reducing the average number of fields required to make a purchase from 21 to 16. Remember, forms hate us as much as we hate them.

The Bad

Only 16% of brands offer Buy Online, Pick-up In-store (BOPIS). By not providing this service, brands are missing out on a significant source of revenue, as according to Cognizant’s research, 65% of consumers who utilize BOPIS, purchase additional items in-store.

The Ugly

Apple Pay may be improving in adoption across the US, but only 9% of brands offered it on their mobile site. The credit card is still king, and so are those pesky forms.

Brands regularly talk about improving customer experience, personalization, and improving in-store efficiencies, and while they all have a part to play on improving the bottom-line, there’s parts of their business that directly impact revenue which continue to be overlooked.

For more data on how brands scored a ‘C’ for Path to Purchase & Fulfillment, download your complimentary copy of the 2017 Mobile Retail Report.