Is mobile technology the key to revenue growth?

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UK: Is Mobile technology the key
Author: Petah Marian | 13 February 2012

Retail and consumer goods companies say that mobile technology will be key to maximising sales over the next two years, according to a survey conducted by KPMG.

The KPMG Consumer Markets Survey, released today (13 February), found that 36% of UK respondents view mobile technology as key to maximising sales, with 46% in Germany, 44% in the US and 50% in India.

It also said mobile technology is even more important in developing markets because of the lack of access to broadband and stores - which means more people shop using their smartphones.

"Mobile technology will help decide who wins in the retail space. Retailers must embrace mobile technology as an urgent priority or otherwise risk falling behind," said KPMG consumer markets partner Tim Clifford.

"Mobile technology is dramatically altering the retail experience and changing the relationship between retailers and customers. Success in both developed and emerging markets will depend on the swift adoption of mobile as a device for communicating with customers and for facilitating transactions.

"Consumer goods and retail companies that are slow to embrace mobile will find themselves struggling to keep up at a time when competition for market share is becoming increasingly fierce."

KPMG said that investing in new technologies to drive sales seems to be particularly important at a time when revenues are falling. 47% of UK respondents are expecting sales this year to be lower than last year. In the US, 46% of respondents expect lower revenues, compared with 50% in Canada, 48% in China and 50% in India.

The survey also reported that emerging markets are becoming increasingly important for UK companies.

While the majority see their biggest opportunities for growth in Western Europe, with 39%, this is closely followed by Asia (excluding China and Japan), with 26%, the US and Canada with 22% and Central America at 13%.

"For retailers and other players in the consumer goods market the challenge is to respond to a ‘two-speed economy'," Clifford added.

"On the one hand they need to adapt to slowing consumer demand in the more mature markets by managing risk and cash and destressing the supply-chain. On the other hand, they are under pressure to look for new sources of growth which means investing money in order to tap into the new emerging markets and make acquisitions as the opportunities arise."


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