Mobile phones have “fundamentally changed” how consumers consider purchases. More and more shoppers are making their minds up quickly and buying something immediately or within an hour after researching on their mobile, according to a study by location-based marketing specialist xAd.
The company’s fourth annual UK Mobile Path to Purchase report found that 56% of consumers who use a mobile for research make a purchase decision within the hour, compared to 38% last year and 36% in 2014.
What’s more, the importance of mobile as both a research and purchase tool is increasing. Almost a third (29%) of the 1,500 UK consumers surveyed admitted not using any other tool apart from mobile to make a purchasing decision.
The most common things people look to do on their smartphone are ‘find pricing information’ and ‘find a location near me’.
In the past 30 days, 62% of consumers had completed a retail purchase after researching it on their phone — mostly online via mobile (39%) or in-store (28%).
Theo Theodorou, head of EMEA at xAd, said the report proves “just how crucial a role mobile plays within a consumer’s decision-making process” and location intelligence can help reach more of these potential customers.
“For marketers, understanding how people are using their devices to consider purchases is critical — especially under the lens of location and real-world visitation being the highest indicator of purchase intent — to provide the best, most relevant brand experience at the optimum time,” he explained.
“Why is this so important? The study shows that 56% of people who research products opt to make a purchase decision — online or offline — within the hour, and overall over 70% want to be within five miles of a physical store, so using location and location intelligence to reach people in those ‘moments that matter’ is key.”