Retail apps are growing. Rapidly and Steadily!
Hard to believe, Isn’t it?
But, it’s true. No, we are not making any assumptions, here.
We are talking facts.
See it yourself:
- According to a report published in Forbes, shopping app category witnessed a surge in the downloads, as compared to other app categories.
- EBay earned $ 9.5 billion of their sales through mobiles.
- Criteo, recently revealed that retailers who prioritized mobile app as a key revenue source saw a significant growth in transactions made via apps. For these retailers, the apps generated 47% of their mobile revenues.
Image Source: Criteo
Long story short, invest in a mobile app to make your retail business, more profitable.
Shoppers, nowadays look for comfortable options to shop. They want their personalized shopping space, right in their palms! And they get it through retail apps. Thus, shopping apps have become a profitable niche.
In fact, many retailers – from big-shots like Walmart to a local store owner – are leveraging this new avenue to make their sales graph soar high.
And if they can, you can too!
If you have a brick and mortar or an e-commerce store, you should upgrade to an app. Why? Because retailing has become omnichannel. When you upgrade your e-commerce/physical store to an app, you open another channel. This new channel can bring in more sales. More sales = More cash!
Having a retail app seems a great opportunity. But, there is still something that pulls you back?
You are concerned.
What would be ROI? What if shoppers are not comfortable to shop from an app? What if they will uninstall the app, after using it once?
Your concerns are quite reasonable.
But, remember retail app is not a bubble, which will burst. It is a lucrative niche with solid opportunities to earn good ROI.
Let’s see data to get it clear:
- Around 44% U.S. consumers prefer a retail app than a mobile shopping website.
- M-commerce has grown to 30% of overall e-commerce.
In fact, this extract from an article on internetretailer.com show changing preferences of an average shopper:
“Although more consumers visited mobile retail websites than apps over the Thanksgiving weekend, consumers spent more time in apps, the data shows. On Black Friday, consumers spent on average 21.2 minutes in a top 100 retailer’s app, which is more than triple the average of 6.0 minutes they spent on a top 100 retailer’s mobile website that day.”
Your retail app requires right ingredients to stay competitive. Good engineering + Personalization = Excellent UX!
With these things in place, your app can start reaping profits.
What is personalization?
Since an app can do wonders for your retail business, it makes perfect sense to treat users in the best possible way. And there can’t be a better way than personalization.
Retail app personalization offers an excellent chance for retailers to connect with the shoppers. It motivates the shopper to take desired action: Buy an item. Result – Low cart abandonment rates. Apparently, there is a surge in the sales.
End-Result – Your retail store becomes more profitable.
There are some key areas, where personalization can keep your users engaged. They are:
- Personalized Onboarding – Because the first impression is the last impression. It is the pivotal moment for your retail app. Personalized onboarding warms up the shoppers. So, they are not left disoriented or confused. Result –possibilities of app abandonment reduces, manifold. Leveraging user data provided while sign-up, helps you address the shopper personally, instead of a generalized ‘Hey there!’.
- Product Recommendations – This is one of the most commonly used, yet effective methods. Study the user’s click behaviour. Understand which categories are often browsed. This will help you understand your user and her/his choices, preferences. Use this knowledge to personalize the content. Present them with product recommendations, based on these details. This ensures the user coming back to your app, frequently.
- Personalized interactions – A pushy salesperson will make the sale happen. This can even become possible with a retail app. Reaching out to your shoppers, through personalized and targeted push notifications and in-app messages can do wonders. With personalized push notifications and in-app messages, you can remind users about your app, any upcoming sale or offers. This way, you can ensure that your users are glued to the app.
You may be ready to take your retail business on apps. But, like many retail apprenuers, you are concerned about the cost. You don’t know how much you need to invest to get a (personalized) app.
You can get a good shopping app build for around $15K – 30K. If you want a basic app, with no additional features, you can get an app in $10K.
For more features or personalized app, you require around 35K.
Still, have some questions about retail app niche? Want to know more about Personalization?
Get in Touch with us: https://www.spaceodigicom.com/contact/