Tablets and smartphones are driving the retail economy. Deloitte recently released a study indicating that mobile devices influenced 19% of the more than $3 trillion in total in-store sales in 2013. Including desktop computers, digital devices influenced half of all in-store purchases.
So, what are retailers doing about it? Well, according to Deloitte, many brick-and-mortar stores are letting dollars slip through their fingers, providing online retailers with a clear path to increased market share.
And it doesn’t have to be this way. Kasey Lobaugh, the person in charge of the Deloitte study found that online sales tend to be higher where a retailer has a physical presence. It turns out that conversion rates — a key driver of retail sales growth — substantially improve when a digital device is used before and during a visit to a physical location.
The integration of a retailer’s online and in-store sales is the key to success, and mobile devices will play a vital role in that success. Here are three retail stocks who are doing it right when it comes to mobile and stand to benefit most from this consumer trend.