Mobile to decide winners in retail space

Retailers and consumer goods companies say mobile technology will be the key driver to maximise sales over the next two years ahead of more traditional ways to generate business such as business intelligence or supply chain management, according to a global survey of CFOs in the sector, Fresh Business Thinking reports.

The research suggests that the importance placed on mobile technology varies by country. According to the KPMG Consumer Markets CFO Survey, 36% of UK respondents view mobile technology as key to maximise sales, compared to 46% in Germany, 44% in the US and 50% in India.

One of the key reasons for mobile technology being more important in developing countries is the lack of access to broadband and stores so more people are shopping via their smartphones, Talking Retail notes.

Tim Clifford, partner, consumer markets at KPMG, said: “Mobile technology will help decide who wins in the retail space. Retailers must embrace mobile technology as an urgent priority or otherwise risk falling behind.”

Just Style quotes Clifford as saying: "Mobile technology is dramatically altering the retail experience and changing the relationship between retailers and customers. Success in both developed and emerging markets will depend on the swift adoption of mobile as a device for communicating with customers and for facilitating transactions.

“Consumer goods and retail companies that are slow to embrace mobile will find themselves struggling to keep up at a time when competition for market share is becoming increasingly fierce."