Mobile phones play a crucial part in our lives, as new data shows that people spend over 4 hours of their day on their phones. Now that smartphones have developed to such a large extent, much more can be accomplished on them than just sending texts and making calls. American businesses earn billions of dollars from online marketplaces, as 66.2% of total economic value is gained from online marketing and shopping through mobile phones.
It would be a missed opportunity if businesses do not take advantage of the fact that consumers have an entire digital landscape in the palm of their hands. Seeing as so much time and investment is put into mobile phones and the industry is growing, entrepreneurs should take the time to see how they can play a role in utilizing mobile phones in retail.
The role of mobile phones in luxury brand retail is becoming more prominent each year, as mobile phones can be used to access business websites, social media accounts, and emails where transactions can take place. With the resurgence of QR codes, all of these functions can be easily accessed through a simple phone camera scan and click of a button.
Why Are Online Marketplaces Popular?
E-commerce and online marketplaces have hit an all-time high, especially since they provide a safe and secure way to purchase as the Covid-19 pandemic continues to loom over the world. However, even prior to the pandemic, online marketplaces provided many benefits to consumers.
They are much more convenient as you can do all of the shopping you need from the comfort of your home. In addition, online marketplaces allow consumers to discover a large range of products they might not have seen before if they were restricted to one shop. Customers can have products delivered to their homes in a short amount of time. With the world shifting to a digital sphere, online marketplaces are the clear next step for any business.
The Growth of Online Marketplaces For Luxury Brand Retail
To follow suit, many luxury brands and stores are moving towards online marketplaces to gain more traction and to stay relevant in an ever-changing world. Luxury brands might not always be accessible for consumers in certain parts of the world, but online marketplaces provide the opportunity to allow certain brands to expand their reach and gain much more support and interest globally.
Many Luxury Brands In One Place
Online marketplaces such as Shopbop have created something special, as they combine a variety of luxury brands and items into one digital space. This is something that would be difficult to find in one retail store, but online marketplaces allow for more opportunities in terms of what can be sold at one place and time. At Shopbop, you can purchase a Marc Jacobs handbag, Elizabeth Cole Jewelry, and Victoria Beckham clothes all in one.
Attracting a Larger Audience
The best part of luxury retail in online marketplaces is that alongside luxury brands, these marketplaces also offer a variety of everyday brands, so it is open to a larger audience. You can truly catch the attention of many more people with an online marketplace, whereas a retail luxury store would only draw in a select audience.
Traveling the World On Your Mobile Phone
When somebody thinks of luxury retail and brands, travel would immediately come to mind. Traveling to countries like Italy or France which are home to some of the most well-known luxury brands in the world. But with travel restrictions and certain time restrictions, some people might not be able to travel across continents for luxury shopping.
With online marketplaces, it is possible to browse catalogs from all over the world, as international delivery is almost always an option.
More Engagement With Consumers
Even though shopping with your mobile phone means that there is little to no face-to-face interaction, online marketplaces and social media allow for much more engagement with consumers. Luxury stores that have moved online can use social media platforms and their websites to have an open conversation with all of their customers (and potential new customers).
Thanks to QR codes, which are black and white barcodes that can be simply scanned with a smartphone camera, businesses can provide customers with important information easily. If a business turns to a free QR code generator such as TRUiC, they can create a QR code for their website URL, social media accounts, email, phone number and they can even create one to allow for customers to make quick purchases should they also have a retail store.
Final Takeaway
The prevalence of mobile phones makes QR codes extremely useful and relevant for business today, especially for luxury businesses looking to have a greater establishment in the online world. Mobile phones allow for online marketplaces to flourish, and with all of the benefits that these online spaces provide, luxury brands are clearly taking note and are ensuring that they use the internet and E-commerce to their advantage.
