The company is joining a growing list of its peers that are prioritizing omnichannel growth like never before — and with good reason. Since an increasing number of retail revenues are generated in the channel, brands and retailers that don’t have a mobile presence run the risk of being left behind.
Here are three reasons why mobile growth is a solid investment for many companies in the footwear and apparel space.
1. It’s Where the Key Demographic Lives
“The retail environment has shifted as an increasing number of millennial and post-millennial consumers seek out the most convenient, informative and streamlined shopping experiences,” Michael Greenberg, president of Skechers, said in a release Wednesday.
Gen Z and millennial consumers are the most-targeted demographic for footwear and apparel firms right now, and more and more companies are realizing that if they’re going to connect with those consumers, they need to meet them where they are.
And for a solid chunk of the day, that consumer is locked into his/her mobile device.
2. It’s Where They Spend Their Money
A study by Bizrate Insights, a division of Connexity, predicted that mobile commerce will grow by nearly 70 percent this year.
Further, the peak volume during the 2016 holiday season may reach as high as 42 percent of all online orders, the study said. And that does not include in-app purchases, which means total mobile purchases are bound to be even higher than these projections, according to the report.
As brick-and-mortar sales decline amid changing consumer spending-and-shopping patterns, retailers are increasingly shifting their efforts to developing their online businesses.
However, the prevalence of mobile devices is perhaps an underestimated facet of online shopping.
3. It’s How You Create the Right Mix
More than simply having a digital presence, brands and retailers must make sure that each of their distribution channels complement each other. A solid mobile platform supports this end goal.
In the early days of the digital boom, retailers learned the importance of having an e-commerce site but recent research has found that the lack of a mobile component could render that website useless.
Case in point, a report by Cowen & Co. last year found that most consumers who are spending time on retail websites are doing so via their mobile devices.
Using data provided by information-technology and analytics firm comScore Inc., the Cowen report said consumers spend 60 percent of digital shopping minutes on mobile.