The retail industry has undergone a significant transformation with the rise of technology, which has revolutionized how consumers shop. In recent years, retail has shifted to the mobile space with the use of apps. In 2024, mobile commerce is set to revolutionize the retail industry by introducing innovative solutions to enhance the shopping experience and overcome past challenges. In this blog, we will discuss five essential features that can improve a retail business’s mobile game, bridging the gap between online and brick-and-mortar stores. We’ll also review the costs associated with implementing these features and highlight how getting a retail store app or enhancing a current app can revolutionize both shopping and selling.
Challenges in Traditional Retail
Over the past few years, retailers have encountered several challenges. These challenges include changes in consumer preferences, increased competition from online retail giants, and the need to provide seamless omnichannel experiences. The increase in e-commerce has also posed a threat to brick-and-mortar stores, which has led retailers to adapt and find ways to engage with tech-savvy customers.
Evolution of Retail into Mobility
Mobile commerce has become a crucial way for retailers to reach consumers. Retailers are now using mobile apps to connect with consumers on a personalized level. Apps have transformed into more than just a digital marketplace. They now serve as a connection between online and offline shopping experiences. By providing a platform for creativity and customer interaction, retailers can offer their customers an improved shopping experience.
As we step into the year 2024, the numbers that support the importance of retail store applications are quite compelling. Industry reports suggest that mobile commerce is set to become a major part of overall retail sales and is predicted to grow at a rate faster than traditional e-commerce. The mobile app ecosystem has seen a significant increase in downloads and user engagement, indicating a growing preference for shopping through mobile devices.
In addition, predictions for the mobile commerce landscape in 2024 indicate a continued upward trajectory. According to Statista, US retail m-commerce sales were estimated to be over $360 billion in 2021 and are expected to reach $710 billion by 2025, almost doubling the current figures. Mobile applications are becoming increasingly important in shaping consumer behavior. A large number of shoppers now rely on these apps for product research, price comparison, and hassle-free transactions. The integration of advanced technologies in retail apps is expected to enhance the shopping experience, which can lead to customer loyalty and higher ROI.
Five Features to Step Up Your Retail Business
- Product Evaluation
In a retail market that is highly competitive, it is crucial to enable customers to make informed purchasing decisions. You can achieve this by incorporating a comprehensive product evaluation feature within your mobile app. This feature provides users with detailed information about items, including prices, previews, and customer reviews, which helps to build trust and enhance the overall shopping experience. By increasing transparency, the likelihood of returns is reduced, and customer satisfaction is improved.
- Code Scanning
In the current fast-paced world, convenience is everything. That’s why code scanning has become an essential tool for customers to quickly obtain product information by scanning barcodes or QR codes. This feature not only provides instant access to product details but also opens opportunities for creative marketing strategies. Retailers can use this technology to offer exclusive in-app promotions, discounts, or additional product information, thereby promoting customer engagement and increasing sales.
- Mobile Payment
For retail apps to succeed, it is essential to provide seamless and secure mobile payment options. By incorporating a range of payment methods, like digital wallets and contactless payments, retailers can simplify the checkout process, reduce friction, and enhance customer experience. Since cashless transactions are becoming increasingly popular, offering various payment options can give retailers a competitive advantage.
- Customer Promotions
Tailored app promotions that are personalized to individual customer preferences have been proven to be highly effective in driving sales. Retailers can make use of customer interactions, purchase history, and preference data to send targeted e-promotions that entice users with relevant discounts or exclusive offers. This personalized approach not only boosts sales but also fosters a sense of loyalty among customers who feel valued and understood.
- Beacons and GPS
Location-based technologies, such as beacons and GPS, play a vital role in bridging the gap between online and offline retail. Retailers can utilize these technologies to send notifications, promotions, or special offers to customers when they are near a physical store. This not only enhances the in-store experience but also drives foot traffic, resulting in increased sales and brand engagement.
Additional Retail App Functionality
Beyond the core features mentioned, retailers can further enhance their mobile apps with additional functionalities such as:
- User Authentication: Streamlining the login and registration process ensures a seamless user experience, allowing customers to access personalized features and preferences effortlessly.
- Social Integration and Sharing: Enabling social media sharing allows users to promote products and influence potential customers through social proof.
App Cost Considerations
Implementing these features requires an investment in both major and basic functionalities necessary for a robust retail app. Costs associated with developing and maintaining a feature-rich mobile app are:
- Development Costs: The expenses associated with coding, design, and testing of the app, which includes both major features and basic functionalities.
- Maintenance Costs: Ongoing expenses are necessary to maintain app functionality, including updates, bug fixes, and security enhancements.
- Integration Costs: The expenses involved in incorporating the application with current systems, payment gateways, and other technological advancements.
- Marketing Costs: Budget for promoting the app, acquiring users, and driving engagement through various marketing channels.
By integrating mobile commerce into the retail landscape, the shopping experience in 2024 will be redefined. Retail store apps provide a powerful tool for retailers to connect with customers on a personal level, offering tailored experiences that cater to individual preferences.
Developing a mobile app can be challenging. Development costs can exceed budgets, multiple vendors can introduce complexities, and integration issues can impede functionality. Unchecked expectations can lead to financial strain, project delays, and an unsatisfactory user experience. A thorough understanding of the development process is essential for success.
The Smarter Choice—An End-to-End App Solution
The need for a comprehensive and efficient app solution has never been more critical. Bryj emerges as the shining star, offering an end-to-end, AI-powered mobile app solution that not only meets but exceeds the demands of the modern retail environment. The Bryj AI-powered platform offers an all-in-one mobile commerce solution that takes care of every aspect of your app’s lifecycle. It covers everything from app design to publishing, security to maintenance, and even 24/7 monitoring and updates. Bryj can speed up your development process while ensuring security, seamless connectivity to your systems, reliability, and continuous improvement. Plus, built-in AI analytics and marketing tools make it an excellent choice for businesses. With Bryj, you have a partner dedicated to maximizing your success in the dynamic world of mobile technology, not just an app. Contact us today for details!