Page 25 - Consumers and Mobile Financial Services 2014

17

How Mobile Phones Affect

Shopping Behavior

Interest in Mobile Services with providing one’s location to companies, as only
5 percent indicated that they “strongly agree,” while
31 percent indicated that they “agree.” In contrast,
Mobile phone users expressed significant interest in
33 percent indicated that they “disagree” and 29 per-
expanding the range of functions they could perform
cent “strongly disagree.”
with their phones. Consumers were asked to select
the types of activities they would be interested in per-
forming with their mobile phones, assuming the Consumers report being even less willing to allow
function were made available to them (figure 7). Con- their phones to be used to provide companies with
sumers appear to be open to greater use of their their personal information in order to receive tar-
phones as a tool to get the best prices in their shop- geted discounts, promotions, and offers. When asked
ping activities: 34 percent express an interest in using about their level of agreement with the statement “I
their phones to compare prices while shopping; am willing to allow my mobile phone to provide per-
25 percent indicate that they would like to receive sonal information such as my sex, age, friends, and
and manage discount offers and coupons; and shopping history to companies so that they can offer
19 percent would like to receive location-based offers. me discounts, promotions, or services based on this
They also expressed an interest in using their phones information,” 41 percent strongly disagreed and
to store gift cards or track loyalty/reward points 38 percent disagreed.
(15 percent) and to track their personal finances
(28 percent).
In-Store Product Research
and Price Comparison
Although consumers might be willing to use their
phones to improve shopping experiences, many are
resistant to sharing their current location and per- Consumers are increasingly using their mobile
sonal information with merchants. Consumers were phones to comparison shop and obtain product
asked about their level of agreement with the state- information while in retail stores. The prevalence of
ment “I am willing to allow my mobile phone to pro- smartphones with barcode scanning software and
vide my location to companies so that they can offer Internet access has altered consumer behavior in the
me discounts, promotions, or services based on where retail environment. With this technology, consumers
I am.” There appears to be significant discomfort can compare prices across retailers while in a store or

Figure 7. Would you or do you already like to use your mobile phone for any of the following purposes, assuming they were
made available to you?

None of the above 50%
Compare prices when shopping 34%
Track your nances 28%
To receive and manage discount offers and coupons 25%
To receive offers and promotions based on your location 19%
Organize, track, and store gift cards, memberships, loyalty, and reward points 15%
Refused to answer 1%