New Report: Customers Shop Retail Rivals While In-store

It’s every retailer’s worst fear – a customer visits your store to buy a new flat-screen TV, consults their smartphone or tablet for a little pre-purchase price comparison to find a cheaper alternative at a nearby competitor. Though pre-purchase research has been a longtime part of the shopping process, the rise of mobile devices such as smartphone and tablets have made it easier than ever to lose customers to a better deal, even after you’ve lured them in-store. A recent survey by mobile commerce technology firm Prosper Mobile Insights has found that 40.6% of customers have taken advantage of another offer after conducting a price comparison in-store. More disturbingly, a smaller percentage of consumers (30.6%) bought a product from the retailer in question after comparing prices in-store.

“The data reveals that many mobile users are taking advantage of their smartphones and tablets while shopping, and some of them are walking out the door to make a purchase at another retailer,” a spokesperson for Prosper Mobile Insights told Internet Retailer.

The research also found that customers use their smartphone for other in-store activities with a 35.8% reading product reviews, 29.7 % scanning QR codes and 26.7% using FourSquare and other location-based apps to access deals and discounts.