Explosive growth in the smart phone market and research into how consumers are using their phones leave absolutely no room for doubt: retailers must leverage mobility to stay competitive. Everyone has a cell phone, and according to virtually every analyst paying attention, by the end of this year more than half of the devices consumers are carrying will be smart phones, up from 27% in 2010. What's more compelling than the fact that consumers are buying smart phones is what they're doing with them.
A recent comprehensive report from IHL indicates that 41% of smart phone users have used price-checking applications to shop competitive sites while they were in a store. More than 35% have received and/or redeemed retail coupons they've received on their phones. ABI Research predicts that by 2015, mobile transactions will account for $119B of retail sales.
Clearly, the stage is set for mobile retail to explode. This presents an exciting opportunity for small-to-midsize retailers to get ahead of the curve by exercising your greatest competitive advantage: the agility that your larger competitors lack.