Last week, DMI sponsored and presented at the National Retail Federation’s (NRF) ‘Big Show’ at the Javitz Center in New York City. Nearly 35,000 attendees flooded the aisles at the expo to see first-hand the latest and greatest trends, technology, and innovations in the industry today.
Kicking off the event on Sunday, DMI’s head of Retail Solutions, Andy Farrell, introduced our VP of Strategy, Jeremy Gilman on the main stage in front of 500 eager audience members. Jeremy presented insights from the second wave of the Retail M3 research – which highlights the opportunity mobile in-store experiences give to retailers today. After surveying 7,500 shoppers over the course of two years, and on two continents (USA and Europe) – DMI recognized that there is a significant portion of the population (nearly 75%) that are using their devices to help improve the shopping experiences while in-store. They are looking up discounts, comparing prices, checking shopping lists and more. They are NOT, however, simply checking their Facebook feeds or texting their friends.
In today’s hyper-connected world, consumers continue to adapt. Innovators and revolutionary companies like Uber, teach consumers that they can get whatever they want, when they want it, at the click of a button on their device. Unlike corporations, consumers don’t think of experiences in terms of industry. If they have a great experience via their device related to air travel – they expect the same ease of use and simplicity when shopping at the grocery store.
But the problem is, retailers are slower to adopt – continuing to use bulky outdated legacy systems that aren’t keeping up with market demands. Customers notice this, and instead choose to engage with retail brands via online ecommerce experiences. DMI’s research and innovation team shared their vision and a solution for brick and mortar retailers to survive and stay competitive – bringing all the benefits of online shopping to the consumers on mobile device in-store.
Jeremy revealed key statistics from the research study – as well as insights from the benchmarking study that accompanied the research. DMI sent teams of secret shoppers out across the US and Europe to evaluate the quality and sophistication of mobile in-store experiences in the market today. As a whole, the industry is still very immature and has huge potential for growth. In fact, the average score in the US was a 49 out of 240, equating to only 20%.
DMI’s presentation got the week off to a great start with lots of interesting conversations with retailers about the challenges they are facing today.
A few key pain points we heard across the industry include:
- How best to use mobile to support the in-store experience
- Delivering true personalization to customers
- Having a single view of the customer
- Creating brand consistency across channels
- Unifying online and offline data and extracting value
With extensive experience in both mobility and the retail industry, DMI is excited about the future of retail and is well-positioned to help tackle these challenges. As we continue to help the world’s leading retailers embrace technology to better serve their customers, we always find NRF a fun way to kick off the year. We come back energized, full of ideas for our clients, and eager to help them look like heroes amongst their peers. Contact us to learn more about the latest mobility trends in retail.