Technological innovation coupled with behavioural shifts is set to drive $5.6 billion worth of retail purchases by consumers on mobile devices in 2012, up from $155 million in 2010, according to PayPal and eBay’s Secure Insight Consumer Discovery report
The report was developed in conjunction with Nielsen and the Australian Centre for Retail Studies (ACRS).
Regardless of the final purchase location, online or offline, Australians using desktop (92 per cent), smartphones (47 per cent), and tablets (25 per cent) to search and discover products and services.
Smaller, more portable and accessible devices like smartphones and tablets continue to grow in popularity as a shopping companion in all environments, including instore.
Australian consumers are increasingly using mobile devices while they are out shopping for price comparisons, locating retailers, reading reviews, and checking product availability.
Jeff Clementz, VP of PayPal Australia said the ritual of visiting shops, trying on clothes, and interacting with sales people is not dying, but how people get to stores and what represents value and convenience is changing.
“The research shows that Australians are increasingly starting their shopping journey online and then buying offline, so it’s imperative for retailers to have a presence at every stage of the path to purchase.
“We believe the retailers that understand discovery and take time to understand their customers’ behaviours will enjoy the benefits,” said Clementz.
At the core of new retail and the future of commerce is personalisation. Consumers want personal, curated experiences relevant to them and controlled by them. For retailers, the future is about utilising data to take customers from unknown to known in order to provide them with personal shopping experiences both online and in store.
“As the retail industry undergoes change the opportunity for PayPal is to provide our partners with products and services to help them address the needs of new retail. Our focus is to innovate at point of sale – wherever that is. Connected devices make it easy to engage with consumers on the go, in store, or at check-out. Drawing on the power of the cloud we are working to connect the owners of our 4.6 million Australian accounts with retailers of all sizes,” said Clementz.
