“So-Lo-Mo” a phrase which grew in popularity in 2012 has more recently been disputed. What elements of social, local and mobile fit into a retailer’s holiday plans today? Well, Lo and Mo definitely got the better end of the deal. According to our holiday survey, retailers had a lot more to say about their thoughts on mobile and local, over social, in 2013.
While social will continue to “underwhelm”, retailers believe that mobile will drive significant value. In fact, fifty-three percent of respondents expect mobile transactions to account for a significant part of holiday revenue. And in addition to mobile transactions, 38% believe “mobile will drive renewed in-store interest that will lead to increased revenue.”
The elements in mobile differ from social because mobile users “shop” information on products in store directly on the website of that store. It would be unlikely that shoppers are searching for products through their social channels in that same situation. Not surprisingly, 84% of retailers see social as having little or no impact on sales in the 2013 holiday season.
Not to be confused, social is still a key component of the retail strategy as it encourages community, relationships and trust with the shopper. At this point in time though, the expectation of sales directly resulting from social networks is still too young and unproven to bank on this holiday season.