Reshaping Retail with Mobility: How To Benefit from Changing Consumer Behaviors

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Mobility is fundamentally changing retail by altering the way people shop and creating disruptive business models. Well over 60 percent of prepurchase web searches now begin on a mobile device. In addition, majority of people - 67 percent - research products on their smartphones and then buy them in a physical store. To this, add the new, mobility-based businesses (such as eBay and Sonea) that level the playing field for retailers of all sizes and you have a recipe for dramatic industry transformation. In this tumultuous environment where traditional strategies pertaining to product, pricing, promotion, and placement are no longer sufficient, retailers must ask several important questions: Am I part of the new shopping journey, or have I lost the sale before I even knew it existed? Has my store simply become a showroom for online shoppers? How will I use mobility to benefit from changing consumer behaviors and disruptive business models? This paper explains how retailers can adapt and thrive in the world of rapidly changing consumer behaviors.