It’s difficult to understand how many smartphones are purchased online versus how many are purchased in brick-and-mortar stores. However, it’s easy to infer based on two other statistics. First, global demand for smartphones is slowing, and secondly, retail and electronics sales have also shown a sharp decline as of October 2019.
In short, even if it’s difficult to get numbers on online versus brick and mortal sales for the smartphone industry, it’s likely that your brick-and-mortar stores are moving fewer smartphones than they used to.
With that said, there are ways to reverse this trend. If you feel like your smartphone sales are not where you want them to be, here are a few ways to get your consumers excited again.
Stock More Midrange Smartphones
Recent research has indicated that fewer than 10 percent of Americans are purchasing smartphones in the $1000 price range. While people still buy these phones, they’re less likely to do so if they are outside of major urban areas. Therefore, unless you’re in a major city, you should predict that most of your customers will be looking for a midrange or low-cost smartphone and act accordingly.
Improve Customer Targeting
There’s more customer data available than ever, which means that your ability to reach out to customers is unparalleled. You can now find, for example, people who live near your store and who have bought smartphones more than 24 months ago. These individuals may be most likely to convert, so you can target them with social media ads, personalized discounts, and other specials.
Take Advantage of Customer Buying Signs
Using customer data, you can recognize the parts of the customer journey that might lead people to your specific brick-and-mortar store. Almost 90 percent of shoppers will do research online before heading to your location. They might even have a specific behavior pattern – visiting your store on their browser, looking through your mobile app, visiting the “store finder” portion of your website, or even adding a particular item to their online cart.
You can use this information to do two things. First, if their behavior shows that they might buy something, but that they haven’t bought something or visited your store yet, you can send them a nudge. This might take the form of an email or a push notification from inside your mobile app.
Second, once the customer arrives in your store, you can use information from their shopping journey to improve their experience. If they already have an item in their online cart, for example, you should be able to look up their account and find the item they’re looking for in their inventory.
Entice Shoppers with Attractive Trade-In Promotions
You’re running a comprehensive omnichannel marketing campaign – which is good. You’re also noticing that your customers are purchasing fewer new high-end phones than normal, which is not so good. Fortunately, by adding attractive trade-in plans, you can use the first fact to fix the second one.
When customers trade in their older phones, they use that revenue to purchase new flagship models. This helps retail stores move units. In addition, stores can then go on to sell the traded-in phones in other markets, making up any losses from effectively selling new phones at a discount.
Your challenge, of course, is to convince your customers that the time to trade in their phones has arrived. You can let your customers know about this using the methods that the data shows that they prefer – email, text, push notification, social media message, or even direct mail.
In addition, you can also create multiple channels for your customers to trade in their phones. You’d prefer that your customers come to your retail store and exchange their phones in person (and you can definitely encourage them to do that), but there are other means available if they’d prefer not to. For instance, they can print out a shipping label and receive an envelope if they use your app, your mobile site, or your desktop site.
At HYLA Mobile, we’re committed to helping you administrate an omnichannel smartphone trade-in program that lets you maximize the value of returned devices while optimizing customer experiences. If you’d like to learn more about how our returns program can boost your retail sales, contact us today!