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Luxury Brand Apps Can Open the Mcommerce Door

Sixty-three percent of affluent smartphone shoppers have made purchases via their smartphones

Wealthy Americans have been at the forefront of smartphone app use and mcommerce. And that trend is likely to continue, according to a Q1 2012 study by the Luxury Institute and Plastic Mobile of US consumers with an annual income of at least $150,000.

According to the report, 60% of these wealthy Americans owned a smartphone, of which more than 80% had downloaded an app.

However, the Institute found that only a small number of wealthy smartphone owners (12%) had downloaded a luxury brand’s app. That’s something that luxury retailers may want to work on changing, as wealthy smartphone shoppers are fairly consistent mobile shoppers. The survey found that about two-thirds of wealthy smartphone owners said they shopped on their smartphone at rates ranging from rarely to regularly. And 63% of those shoppers reported having gone a step further to make a purchase on their mobile device.

Mobile luxury shoppers were most interested in using apps to gain access to discounts. Forty-six percent of those who had downloaded or planned to download any mobile app said they expected a luxury app to provide them with a loyalty program. Early access to sales was the second-highest anticipated app feature, at 45%.

The Institute also found that more than 40% of wealthy app downloaders said they were interested in apps that would provide a secure and convenient means of making luxury purchases. While almost half of wealthy smartphone owners said they preferred an in-store shopping experience to mcommerce, luxury brands should not ignore the sales potential provided by mobile apps. Seventy-two percent of those affluent smartphone owners who shop via their device said there was no upper limit to what they would be willing to spend on an mcommerce purchase.

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Check out today’s other articles, “Online Sales per User Continue to Climb in North America” and “Ecommerce in Brazil Surges with Middle-Class Adoption.”

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