Managing change in mobile retailing

Technological progress has fostered huge growth in mobile retailing, with sales through mobiles and tablets rising by 138% in 2013. Sales through mobile devices now account for around 30% of the total online retail market, and retailers expect that percentage to grow in the coming year. New consumer research reveals that 47% of consumers have used a mobile phone to browse and 27% have used it to make a purchase, compared with 8% in a similar survey in 2010 (Retail Week Report 2014). 

Adapting or replacing legacy systems in response to the technological requirements of mobile retailing is seen as one of the biggest challenges facing retailers, and costly in terms of investment. The sheer pace of change in mobile retailing is identified as another major challenge when developing a mobile retail strategy. Due to these challenges, Venquis has worked with various retailers to enable them to respond to the rapid pace of change through the effective hiring of relevant talented people. In some cases these people have come from sectors such as Financial Services where competition, rapid change and cost pressures within tightly regulated markets have become the norm. The Venquis Financial Services practices have helped our retail team to identify these people.