By Dan Cohen
Shoppers are on a new hunt for bargains and value, as 52 per cent of connected consumers (consumers who own a smartphone and shop online at least once per month) have at least one performance marketing app on their mobile. The figures have been revealed in a study commissioned by the Tradedoubler Insight Unit – Performance Marketing: Mobile & Shopping on Demand.
Price comparison apps prove most popular (32 per cent) amongst shoppers surveyed, followed by coupon/voucher code (23 per cent); loyalty or reward (22 per cent); daily deal/group buying (20 per cent) and cashback apps (19 per cent).
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 both expect and demand.
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.
Of those using their mobiles in-store, 55 per cent of the shoppers surveyed have bought a product at a rival retailer after finding a better price via their mobile.
Additionally, mobile discount vouchers and coupons are proving to be a powerful tool for bargain-hunters with 51 per cent actively searching for vouchers on their phones and 44 per cent regularly using the vouchers sent to their mobile. As vouchers can normally be redeemed in-store as well as online, they can be instrumental in helping retailers to encourage customers back onto the high street.
The popularity of performance marketing mobile sites and apps is backed up by Tradedoubler’s latest sales figures, which show that purchase value on its mobile performance network grew by 187 per cent between the first quarter 2012 and first quarter 2013.
About the author
Dan Cohen is Regional Director at Tradedoubler.
Tradedoubler creates award-winning, multi-channel performance marketing programs for clients on a payment by results basis.