Over Half of US Mobile Consumers Use Price Comparison Apps

New Yankee Group data underscores the mobile challenge for brick-and-mortar stores

Over Half of US Mobile Consumers Use Price Comparison Apps

Yankee Group CommunicationsAlexandria Hubbard, +1 617-598-7226

The $4 trillion retail business in the U.S. is being forever altered by mobile shopping applications. A new report, “,” indicates that 46 percent of U.S. consumers use their smartphones to check prices and reviews while shopping at retail stores, up 5 percent from 2010. And armed with that information, nearly half buy a less expensive product elsewhere.

“Our survey is a wakeup call—this adds up to millions in potential lost revenue for brick-and-mortars,” said , Yankee Group research director and author of the report. “Retailers must embrace mobile beyond price comparison and target consumers who are not solely driven by price. Engaging mobile consumers with tools such as inventory availability, real-time personalized offers, personal shoppers and self-checkout will make the difference between retail success and failure in the new mobile economy.”

Other findings from the report include:

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