Showrooming costs brick-and-mortar retailers as much as $217 billion in lost sales, according to an infographic from 360pi posted by Retail TouchPoints. As more consumers use mobile devices to compare prices while in store aisles, retailers are equipping associates with tools that help convert showroomers into buyers.
A mobile pricing intelligence solution launched in August 2013 by 360pi puts competitors’ prices into the hands of front-line retail employees. 360mobile delivers the pricing intelligence associates need to better anticipate and respond to customer queries for discounts and price matches.
360mobile technology integrates competitors’ near-real-time pricing information into retailers’ existing processes and systems. The tool is designed for enterprise retailers, and can be deployed company-wide or in select locations, with no software installation required. 360mobile is available on Android and iOS devices. Native Application support is planned for Q1 2014.
Current implementation options include:
- A mobile-optimized web application accessed via standard web browsers;
- An installable mobile app;
- A desktop-optimized web application for access on in-store PCs; and
- An API that enables competitor prices to be displayed within existing in-store mobile applications, such as POS and inventory management.
360mobile was conceived and developed in cooperation with Best Buy Canada, with the goal of improving customer experiences, building trust and loyalty in the brand promise and generating return visits and purchases.
“The entire buying process has changed from where customers do their research to where they’re influenced to where, when and how they ultimately buy,” stated Sean Wilson, VP of Merchandising Operations, Best Buy Canada. “360mobile gives our retail associates the information they need to better address customer questions and concerns, and lets prospective customers make an informed decision while in the store, effectively turning showroomers into buyers.”