Holiday season could be a major success for retailers thanks to mobile commerce
The way people shop is beginning to change as mobile commerce becomes more popular. Retailers have been taking note of the growing preference many consumers are adopting concerning online shopping and some have been taking steps to ensure that they can engage these consumers through their mobile devices more effectively during the upcoming holiday season. Some retailers are, however, still uncertain about the potential benefits of mobile commerce, which may mean that they will be missing out on a significant opportunity during the holidays.
Millennials are leading the mobile shopping trend
According to a recent study from comScore, a leading market research firm, some $5.8 billion in mobile transactions were recorded during the third quarter of 2013, a 26% increase over the transactions recorded during the same quarter in 2012. The study suggests that mobile purchases represent a significant portion of e-commerce revenue. Notably, a great deal of mobile commerce activity is coming from young consumers, often referred to as “millennials.”
Millennials likely to participate in mobile commerce
According to Google’s 2013 Holiday Shopper Intentions report, approximately 95% of millennials plan to use the Internet as a shopping tool during the holiday season. The report predicts that 88% of these millennials will be using their smartphones and tablets to shop online and purchase products. Many of these young consumers have grown quite comfortable with mobile commerce over the past year, thanks to the various mobile initiatives that have been launched by retailers and technology firms alike.
Retailers are preparing for mobile engagement
The 2012 holiday season exposed the retail industry to the promise that exists in the mobile commerce field. Since then, retailers have been working to bolster their presence in the mobile space. Many companies have launched mobile marketing campaigns that are encouraging consumers to participate in mobile commerce in the hopes of mimicking the success that they had seen during the 2012 holiday season.