While most retailers see mobile as critical to the growth of their business, the majority aren’t planning to put significant money behind their efforts.
In terms of the level of investment in mobile and tablet initiatives this year, more than half (62%) of merchants plan to spend fewer than $100,000 with 11% planning no spending at all.
This is based on the e-tailing group 13th Annual Merchant Survey, which surveyed 108 senior executives with omni-channel responsibility.
Most retailers identified the importance of mobile to business growth, but many also appear to be at the early stages, based on the survey results:
The level of investment varies, with more than a third (37%) planning to spend more than $100,000 on mobile initiatives this year, while 9% plan to spend more than $500,000.
But mobile does top the list of technology investment planned, with cart abandonment strategies near the bottom of the list. Here’s the location of tech spending, based on the survey:
As we’ve written about here in the past, mobile commerce is a global phenomenon. Of the retailers surveyed, the majority (51%) already are selling and shipping internationally.
Almost a quarter (22%) of survey respondents work in companies with more than $1 billion annual revenue.
One of the challenges the survey identified is that when interacting with consumers across different channels, most retailers (52%) cannot recognize their customers. Only 7% can recognize their customers all the time and 41% some of the time.
The long road to the mobile revolution at retail continues to be built.