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Adoption of technology is on the rise in the retail sector and it’s creating more avenues for brands to connect with retailers. The recent launch of our MyStore+ app has helped put brands in the hands of more retailers in an innovative and budget friendly way.
The retail app industry is something we’ve discussed with our friends at HIM in length. We’ve included some facts and figures from one of their recent studies into the topic of retailer digital engagement.
Retail app popularity is on the rise for consumers, retailers and brands. The rise of retailers using online ordering has grown at an extraordinary rate. Of those retailers whose primary route to market is delivered, 98% of them say their main method for ordering is online vs telephone. This figure was just 24% in 2008. Within the B2B online ordering space, apps are estimated to account for up to 30% of sales. It feels the only thing holding this figure back currently is penetration.
Based on these facts, there is a definite opportunity to start targeting retailers through social media and apps. Many wholesaler apps provide retailers with a much more convenient and time efficient way to create and generate orders – especially with tools such as integrated barcode scanners. This acceptance and appetite for wholesaler apps from retailers is further evident when we look at basket sizes: app baskets are 18% larger both in terms of items and spend vs web orders (£1,336 vs £1,132). However, individual manufacturer apps have proven to have a lower adoption rate by retailers, leaving the door open for third party, retailer apps.
Our MyStore+ app makes it simple for retailers to grow their business through access to advice, offers, rewards and insights from leading brands across multiple categories. 68% of retailers agreed that they would be much more likely to engage with apps offering advice and rewards for multiple categories and brands in one place. The purpose of MyStore+ is to connect retailers with brands, offering advice and rewards to help grow sales. With MyStore+, retailers can access multiple sources of advice and help from brands all through one free, 3rd party app.
Since its launch, our MyStore+ app has been performing ahead of expectation, with more brands and retailers signing up than targeted. The increase in engaged brands has been tremendous as we continue to roll out the app to retailers. MyStore+ gives brands access to large audiences of retailers who are constantly connected. This gives brands the opportunity to influence retailers to take action in the right areas that will help both retailer and brand grow.
To find out more about our MyStore+ app and what it can do for you click here.