Retailers need to reassess their transformation strategies — focusing on effective cash allocation is crucial for survival in 2021, according to Scott Rankin, Advisory Industry Leader, Consumer and Retail, KPMG in the U.S.
**Utilize mobile app advertising.** Consumer engagement with mobile apps has reached new heights, and users are highly responsive to in-app ads.
**Best practices for retail in-app advertising include:**
1. **Drive foot traffic and online visits.** Mobile ads are effective in directing consumers to physical stores and dedicated websites, providing insight into your brand and offerings.
2. **Create and enhance your own app.** Developing a mobile app fosters a direct relationship with consumers, allowing for the promotion of deals, discounts, and essential information. App users tend to be more loyal than those who do not have your app.
3. **Facilitate diverse purchasing options.** Offer various buying methods within your app—while some consumers may opt for your platform, others might prefer popular e-commerce sites. Allow for direct shipping or convenient purchases in-store, including BOPIS and curbside pickup.
