DENVER, Nov. 1, 2018 /PRNewswire/ -- Ibotta, the starting point for rewarded shopping on mobile, today released its first ever Mobile Commerce Report, highlighting key trends on how and when consumers engage in mobile shopping and what smart retailers can do to strengthen their mobile commerce strategies to reach new audiences in the years ahead.
The Growth of Mobile Commerce
Over the last decade, consumers' shopping preferences have changed drastically with the continued adoption of mobile across the retail industry. Mobile commerce will soon eclipse desktop sales and become the primary screen for driving conversions in the United States, with mobile retail sales expected to top$400 billion within the next three years. An increased shift to mobile is further evidenced in the results from Ibotta's 2018 Mobile Commerce Survey, which found that 47 percent of respondents are shopping in-store retail locations less today than they did five years ago.
"Mobile has changed every aspect of the shopping experience. From the way consumers shop, to the way they research purchases and make decisions about what to buy and even how they engage with the brands they love," said Bryan Leach, Founder and CEO of Ibotta. "Everyone's shopping behavior is different and unique to them, and brands cannot expect customer loyalty with a one-size-fits-all approach. The goal of Ibotta's inaugural Mobile Commerce Report is to highlight the shift in mobile shopping behavior while providing insight into the best ways to attract and retain loyal customers."
What the Mobile Shift Means for Retailers
As the consumer journey continues to evolve and mobile becomes an even bigger part of shoppers' lives, smart retailers must shift their focus to mobile and deliver more personalized offerings with a clear value proposition to obtain new customers and increase incremental sales. These tactics will help retailers deliver the most valued shoppers to their business.
"Every shopper wants a good deal, but more importantly, they want to be rewarded for their loyalty," Leach said. "Brands and retailers that are able to deliver more tailored and rewarded shopping experiences on mobile will best position themselves to be successful in this new era of retail."
For more on how retailers can better map out their mobile commerce strategies and glean important learnings around consumers' shopping behavior, download the full 2018 Mobile Commerce Report here.
Methodology for the Mobile Commerce Survey
Ibotta's 2018 Consumer Shopping survey was administered online between September 17, 2018 and September 19, 2018, and received 1,121 responses from nationally representative Americans ages 18 and over, using an email invitation and an online survey. For the purposes of this survey, a millennial is between 22 and 37 years of age, a member of Generation X is between 38 and 53 years of age and a baby boomer is 54 years of age and older.
Headquartered in Denver, CO, free mobile shopping app Ibotta ("I bought a...") has delivered more than $425 million in cumulative cash rewards to its users on groceries, clothing, electronics, gifts, home and office supplies, restaurant dining, hotel rooms and more. Partnering with more than 1,500 leading brands and retailers, Ibotta offers cash back on purchases made both online and at brick and mortar stores through mobile-enabled redemptions. Launched in 2012, Ibotta has nearly 30 million downloads, and is one of the most frequently used shopping apps in the United States. Ibotta also debuted on the Inc. 5000 list in 2018, and was named one of Inc's Best Workplaces of 2017.