The group notes that smart phones drove 28.5 percent of all on-line traffic, leading the 18.1 percent traffic share tied to tablet devices, however tablets composed 19.5 percent of all on-line sales, significantly larger than the 9.3 percent share of sales connected to smart phones.Tablet users also placed higher value orders: $95.61 per order on average compared to the $85.11 average order placed on smart phones. Approximately 33% of Smartphone users look for product reviews, coupons and reductions prior to purchasing anything, frequently while in-store – a consumer trend being labelled “click and mortar” shopping, fuelled by Social networking. Pr entice Capital, Michael Zimmerman's Hedge Fund Believes e-commerce Is the Future of Retailing Amid Weak Consumer Prentice Capital Confidence Pr entice Capital Management's Michael Zimmerman notes that retailers with innovative mobile amps report up to five times customer interaction than those not implementing mobile strategies and anticipates that on-line shopping and smart phone e-commerce will continue to take market share. A recent Deloitte study1 that found customers who shop across channels spend three times more than store-only customers, and a small but growing percentage of revenue comes from on-line customers who only shop on mobile devices. Michael Zimmerman, CEO of Pr entice Capital Management believes today's consumer is stretched thin - yet increasing on-line sales figures demonstrate that low consumer confidence doesn't always equate to weak consumer spending. Starbucks allows customers to pay directly from their Smartphone in store, while Amazon gives consumers the ability to scan bar codes at bricks and mortar retailers, quickly displaying on-line discounts for the same and similar products. 2013 could become a breakthrough year for mobile shopping, especially if smart phone prices continue to fall and strong consumer uptake of the devices continues. Citations:1 “The changing face of retail” Deloittes, 2013 SOURCE Pr entice Capital Management BP Copyright C 2014 BR Newswire. Retailers and consumers are resilient but not overly optimistic about the broader economy, but positive retail sales growth continues month-after-month.
He has continued to focus on these markets after founding his own firm. Retailers and consumers are resilient but not overly optimistic about the broader economy, but positive retail sales growth continues month-after-month. Otherwise, Zimmerman believes, they will lose a huge amount of traffic from on-line customers who only visit and shop on mobile devices. ET Amazon goes off-line while retailers scramble on-line - Michael Zimmerman's hedge fund Pr entice Capital believes customers want to combine pure on-line shopping with visiting stores. Citations:1 “The changing face of retail” Deloittes, 2013 SOURCE Pr entice Capital Management BP Copyright C 2014 BR Newswire.
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Retailers and consumers are resilient but not overly optimistic about the broader economy, but positive retail sales growth continues month-after-month. Michael Zimmerman's Hedge Fund Anticipates 2014 Mobile Shopping Revolution Press space bar to pause and continue. Considering that an estimated 50 million new phones and pads are already in consumers hands during the last quarter of 2013, the new year could be a breakthrough year for mobile shoppers, particularly if businesses continue to adapt to commerce, engaging their client base with new and innovative methods. Retail sales increased 0.3% MoM in February. Michael Zimmerman's Pr entice Capital, a hedge fund that invests heavily in consumer retail shares with strong on-line sales strategies, identifies a sales “sweet spot” with mobile and tablet users preferring to spend between $25-$100. Retailers need strong branding and well-planned on-line & mobile shopping platforms, says Zimmerman, who has long held the view that the on-line-off-line consumer convergence will put even more pressure on offline retailers to build a strong online retail presence. Michael Zimmerman left Steven Cohen 's SAC Capital advisers in 2005 to found his own investment firm - Pr entice Capital Management BP - in New York. In 2008, the fund registered an 88% loss. An estimated 33% of Smartphone users check for product reviews, coupons and discounts prior to making a purchase, often while in-store - a trend fuelled by Social media. “The economy, employment, wages, and retail sales continue to stagger along.