Madison Reed has raised $32.1 million since launching 15 months ago.
A Greystripe study also finds mobile shoppers are less sensitive to price.
Mobile shoppers demonstrate less price sensitivity and write product reviews more frequently than consumers that prefer stores, and they are more likely to purchase from a mobile commerce site or app that is easy to use, according to a new study by mobile ad network Greystripe, a division of ValueClick Inc.
The study surveyed 800 iPhone, iPod Touch, Android and tablet users. It labels mobile shoppers as consumers who indicated a preference toward using mobile devices to shop and traditional shoppers as consumers who prefer stores.
When shopping, 54% of mobile shoppers are most likely to use their device to research products, the study finds. 37% of mobile shoppers visit a brand’s m-commerce site or app first when seeking product information versus 28% of traditional shoppers.
Mobile shoppers demonstrate less price sensitivity than traditional shoppers, with 71% redeeming coupons offered by retailers compared to 94% of traditional shoppers, the study says. And mobile shoppers are more likely to discuss products and brands, with 49% routinely writing product reviews compared to only 31% of traditional shoppers.
51% of mobile shoppers state they prefer applications and 49% prefer sites, the study finds.
“As the mobile channel has evolved and becomes more widely accessible and easier to use, shoppers who are making purchases via their devices are exhibiting behaviors that characterize them as more profitable, more influential and more likely to buy when given an interface that is easy to use,” says Kurt Hawks, general manager at Greystripe. “Based on the results of this study, retailers and retail brands that are not already focusing heavily on the mobile channel would be wise to move in that direction.”
The study also highlights the role mobile commerce can play in influencing traditional shoppers’ purchasing decisions, Hawks adds.
“The possibilities are many in terms of how mobile can be leveraged to drive in-store behavior,” he says. “For instance, retailers can incorporate coupons for in-store redemption into their mobile campaigns. Retailers can also utilize full-screen ads to provide more product information via a larger canvas so that in-store buyers—who use mobile to conduct product research before making in-store purchases—are getting more information about the product from the campaign itself.”