Is mobile shopping undermining brand loyalty in favor of price in Europe?
Mobile shoppers in Europe are on a steady hunt for bargains and value, according to a new report from Tradedoubler.
According to the report – “Performance Marketing: Mobile & Shopping on Demand” – 52% of connected consumers have at least one performance marketing app on their smartphone. What’s more, 51% of connected shoppers actively search for mobile discount vouchers and coupons on their phone, while 44% regularly use the vouchers sent to their mobile.
“Powerful brands are losing dominance on the high street because they’ve placed too much importance on brand loyalty and not enough on the price, value ,and variety of channels including mobile apps that shoppers now expect and demand,” Tradedoubler regional director Dan Cohen said in a press release.”
Further, 55% of in-store mobile shoppers have bought a product from a rival retailer after finding a better price on their mobile, according to the report.
Price comparison sites (32%) were most popular among shoppers, followed by coupon/voucher codes (23%), loyalty or rewards (22%), daily deal/group buying (20%), and cashback apps (19%).
“Bargain hunting has gone mobile and if brands aren’t prepared with relevant and timely campaigns targeting shoppers who have at least one performance marketing app on their smartphone when they are ready to buy, they’re going to lose out,” Cohen added.
The popularity of performance marketing mobile sites and apps is supported by Tradedoubler’s latest sales figures, which show that purchase value on its mobile performance network grew by 187% between the first quarter 2012 and first quarter 2013.
The Tradedoubler Insight Unit commissioned the research from Fox Insights. The online survey included 2,500 smartphone users who shop at least once a month online in the U.K., France, Germany, Italy, Netherlands, Spain, Sweden, and Poland. The countries represented in the research report comprise 89% of the retail ecommerce market in Europe.