The aim of this report is to identify consumer behaviour and explore the extent of which smart phones are changing how consumers shop and what fashion retailers are doing to support consumers use of m-commerce. The report will show different approaches to m-commerce between different segments from luxury brands to high street. It will examine how retailers adapt new concepts and share information through smartphones to compete in the consumer market. The report will also reflect on what retailers do to engage their customers, and how consumers respond and interpret new marketing strategies. The report will look at many aspects in which M-commerce has been very successful. The purpose is to understand new markets and how consumer behavior has changed over the last years.
2.0 High street
2.3 Karen Millen
3.0 Luxury brands
Retailers today face much larger challenges than they have ever before. Consumers are becoming more aware, know what they want and expect nothing less. Because of E and M commerce they have become aware of the international market and online markets. They know where to find products at cheaper prices, find specific brands, and achieve the consumer goals they desire. Social media has become our reality, and smartphones are becoming a more desirable channel to live and manage every aspect of our lives. The retail industry has been forced to make quick changes and find new ways of attracting, engaging and maintaining customers. Retailers are now using m-commerce as an effective tool to make the shopping experience easier and more efficient for themselves and consumers.
2.0 High street
It can be suggested that the high street shopper has not changed significantly over the years, but they have become more aware of fast and accessible fashion. However, this is not only what the high street brands have to offer. It can be implied that consumers have been knowledgeable and market aware for a long time, as e-commerce has become a part of most people’s daily routines. The days when a department store could set a high price on a low quality garment is over. It could be indicated that consumers know their options and they have learnt how to find the best deals. M-commerce is similar to e-commerce, only even more accessible, and has changed consumers shopping behavior even further. (Azhar, 2012) M-commerce has made it possible for consumers to go into a shop, try garments on, and compare prices online as they are standing in the fitting room. They can get an instant update on the garment, prices and style (Davies, 2012)
From a consumer point of view it is easy to believe that M-commerce benefits only themselves, rather than retailers. Still, retailers are well aware of how they can control their consumers. (Azhar, 2012) Through M-commerce it is easy to track a consumers shopping behavior and therefore find out about their shopping history, taste and patterns. Retailers can now target their customers in a new and more direct way. (Azhar)
Walmart has been named the 2012 Mobile Retailer of the Year by Mobile Commerce Daily. They are convinced that Walmart serves as a role model for retailers for its outstanding use of mobile services. According to Rimma Kats at Mobile commerce daily this past year, Walmart has elevated its comprehensive 360-degree mobile commerce efforts to create a more streamlined shopping experience. This incorporates various channels such as mobile applications, mobile Web, augmented reality, mobile advertising, mobile bar codes, social media, location-based services and push notifications. It can be suggested that Walmarks use of modern media attracts new costumers to their stores, and helps them to understand their shoppers hence they can easily deliver a more specific service to their customers and provide them...