Zimmerman's Prentice Capital Management - Website Price Checking Instore Sees Rapid Growth

Prentice Capital's Zimmerman highlights new research that shows the rapid growth of "showrooming" nearly 25% of smartphone users report using their smartphone to compare competing prices for purchases while inside a store.

News provided by

Prentice Capital

25 Apr, 2014, 01:31 ET

NEW YORK, April 25, 2014 /PRNewswire/ -- Prentice Capital CEO Michael Zimmerman notes new research highlighting the rapid growth of "showrooming" - increasing numbers of consumers are using of mobile devices in shops to check information about a purchase, compare reviews and competitive pricing.

A third (34%) of smartphone users have made a purchase via their smartphone, and 72% of these report using their smartphone while inside a store, research from DigitasLBi has found. (1)

It was also revealed that 19% of consumers left a store after consulting their smartphone and finding a product they want is cheaper elsewhere, while a further 29% of surveyed consumers said they would consider doing so.

"Not only are customers shopping more on their phones, they're also spending," said Chris Mason, Branding Brand co-founder and CEO. "Our data shows large numbers of consumers rapidly embracing mobile as a fundamental tool to conveniently connect with retailers." (2)

Tina Spooner, Chief Information Officer at IMRG, says, "An increasing number of consumers now using their mobile devices to browse and compare products while in-store." (3)

Zimmerman believes modern retailers need an innovative multichannel mobile strategy at the core of their integrated marketing strategic plan. Zimmerman is backing his opinions: his pattern of investing as indicated through Prentice Capital's regulatory disclosures shows the Michael Zimmerman hedge fund favors stocks with powerful brands and well-conceived mobile and online commerce strategies (4).

"Given the evidence, we seem to be entering the start of a persistent mobile age," Scott Galloway at NYU Stern commented. "Brands ignore this shift at their own peril." (5)

Michael Zimmerman's fund Prentice Capital Management is a Greenwich financial investment advisory firm specialized in U.S. consumer retail sector investments. Zimmerman also sits as Chairman of the Board at retailer dELiA*s Inc.

Sources
(1) 'Connected Commerce: A Snapshot of the Modern Shopper' 3 April 2014 DigitasLBI
(2) Mobile Commerce Index data from Branding Brand
(3) IMRG e-Retail Survey, April 2014
(4) SEC EDGAR Filings, 15 April 2014
(5) "High-End Brands Are Missing the Boat on Mobile, Study Finds" - Mashable, 11 Jan. 2012

SOURCE Prentice Capital

PRN Top Stories Newsletters

Sign up to get PRN’s top stories and curated news delivered to your inbox weekly!

Thank you for subscribing!

By signing up you agree to receive content from us.
Our newsletters contain tracking pixels to help us deliver unique content based on each subscriber's engagement and interests. For more information on how we will use your data to ensure we send you relevant content please visit our PRN Consumer Newsletter Privacy Notice. You can withdraw your consent at any time in the footer of every email you'll receive. Mit Ihrer Anmeldung erklären Sie sich damit einverstanden, Inhalte von uns zu erhalten.
Unsere Newsletter enthalten Zählpixel, die die Lieferung einzigartiger Inhalte in Bezug auf das Abonnement und die Interessen der einzelnen Abonnenten ermöglichen. Weitere Informationen über die Verwendung Ihrer Daten im Hinblick auf die Zusendung von relevanten Inhalten, finden Sie in unserer PRN Consumer Newsletter Privacy Notice. Ihre Zustimmung können Sie jederzeit in der Fußzeile jeder erhaltenen E-Mail widerrufen. En vous inscrivant à la newsletter, vous consentez à la réception de contenus de notre part.
Notre newsletter contient des pixels espions nous permettant la fourniture à chaque abonné, d’un contenu unique en lien avec ses souscriptions et intérêts. Pour de plus amples informations sur l’utilisation faite de vos données en vue de l’envoi des contenus concernés, nous vous invitons à consulter la politique de confidentialité disponible à partir du lien suivant PRN Consumer Newsletter Privacy Notice. Vous pouvez à tout moment revenir sur votre consentement par le biais des informations situées au bas de chaque e-mail reçu. Регистрирайки се, Вие се съгласявате да получавате информационно съдържание от нас. Нашите бюлетини съдържат проследяващи пиксели, които ни помагат да предоставяме уникално съдържание въз основа на ангажираността и интересите на всеки абонат. За повече информация относно начина, по който ще използваме Вашите данни, за да гарантираме, че Ви изпращаме подходящо съдържание, моля, направете справка с нашето Уведомление за поверителност на потребителския бюлетин на PRN. Можете да оттеглите съгласието си по всяко време в долния колонтитул на всеки от имейлите, които ще получите.