blogRetailers who ignore price savvy consumers with mobile comparison technology will be left behind.
Smartphones are enabling people to shop smarter. Price comparison is instant with app’s on the iPhone and G1 allowing consumers to find deals, and sometimes negotiate a better offer. In most cases, retailers have been completely blind sided by the growing mobile bar code scanning trend.
Lately, I’ve been experiencing in increasing frequency mobiles impact on offline shopping behaviors.
Just the other month I had a shopper walk into the ski shop asking if we carried the Salomon Xwing 10. We didn’t have it, and I suggested taking a look at similar skis, but confessed I wasn’t too familiar with the particular ski he wanted. That’s when he whipped out his Moto phone and brought up the specs for the ski.
Knowing what he was looking for, I showed him a couple other skis close to the Salomon. Next he did something totally cool and unexpected, he googled the reviews for the skis and made a decision.
Talk about putting the consumer in the drivers seat!
For many retailers, I bet this type of customer control in the buying process has them quaking. But in reality it’s a good thing. You should stand by your prices, and if you can’t be the lowest then you’d better be competing on added value. Remember, people are still willing to pay a premium for service.
How To Address The Trend
I like how Wegmans is tackling an increasingly price conscious consumer with their comparison shopping signs.
Savvy retailers might take this a step further and encourage people to make price comparisons on the floor. One way to accomplish this is to place UPC codes in a more prominent position. Or perhaps borrow a strategy from Progressives playbook, and create a mobile friendly site that compares prices between you and the competition.
Of one thing I’m certain, mobile price comparisons will continue to grow, and if you’re a retailer, you don’t want to miss this opportunity.
I bet you can think of some creative ways retailers can benefit from the mobile upc price comparison trend, and would love to hear your input in the comments section.
Photo credit appleseed
Tags: behavior, mobile marketing, price
Interesting story on how he checked prices etc on his moto phone but I bet the extra he pays monthly for the feature on his phone more than eats up any savings he might get by comparison shopping-ought to do a study on that! love ya MOM
The thing that has to be remembered is that personal computing, especially mobile, is no longer just about accomplishing something else more efficiently – in this case, price comparison. Rather, for a majority of people it’s become a part of everyday life, even critical to communication and social interaction. So why you feel it’s a waste of money to pay for mobile internet access, from this young mans perspective it’s extremely valuable.
XXOO