New York—Dec. 5, 2014—Signs of slowing retail growth and a shift to online purchasing for the 2014 holiday season are driving retailers to find new ways to cut costs, take advantage of consumer buying trends and engage the demanding mobile user, according to Powa Technologies.
Thanksgiving Day itself was predicted to see online sales of $1.35 billion, up 27 percent on 2013, with 31 percent of all sales being completed via mobile device. The traditional sales frenzy of Black Friday was predicted to see $2.48 billion spent online, up by 28 percent, while Cyber Monday was expected to increase by 15 percent to $2.6 billion.
However, with general retail sales increasing by a modest 0.3 percent in October, according to the U.S. Department of Commerce, retailers continue to be challenged by a fragile year for consumer spending.
Dan Wagner, CEO and founder of Powa Technologies, commented: “Retailers of all sizes are under pressure from consumers that demand more freedom and convenience in the way they shop. The colossal online sales predicted for the Thanksgiving period, as well as the incredible 31 percent growth in mobile sales, shows just how lucrative a strong omni-channel strategy is.”
“A high-quality omni-channel offering that provides mobile commerce and fast deliveries is essential to capitalizing on these opportunities, but with consumer spending faltering in the rest of the year, finding the capital to invest in a strong solution can be challenging.”
To meet this demand, Powa Technologies launched PowaTag, providing access to a new way to transact with the connected consumer via mobile while keeping implementation costs low. The mobile commerce solution enables shoppers to complete transactions anytime, anywhere in two taps with their smartphone. The app uses a variety of triggers including scanning print material, audio tags, social media, NFC and Bluetooth beacons, even one-touch buying from an email—enabling a new level of freedom for shoppers.
PowaTag easily integrates with existing retail systems, both physical and digital, without the need for additional technology or infrastructure.
Wagner added: “Even the largest retailers face a daunting financial decision when investing in the technology to fuel a large scale omni-channel strategy while still keeping their prices low enough to match an increasingly competitive landscape. The rapid increase in online and mobile sales seen across the Thanksgiving period demonstrates a clear trend across the retail sector, and retailers of all sizes must be prepared to offer a solid omni-channel solution all year round.”