Mobile commerce becoming more prolific among consumers
Strategy Analytics, a leading market research firm, has released a new report that sheds light on how consumers are using their mobile devices for mobile commerce. The report, titled “67 percent of Smartphone Owners Use Devices In-Store – Consumer and Retailer Mobile Needs Explored,” suggests that the majority of consumers use their mobile devices for shopping. Mobile commerce has been growing in popularity among consumers for some time, with many considering it more convenient to shop with their mobile devices.
Majority of consumers use their mobile devices to shop
According to the report, approximately 67% of consumers use their mobile device for shopping. For many, this means augmenting an in-store experience using a smartphone or tablet, using their mobile device to find the best deals on products. Mobile payments are also popular among these consumers, especially as companies begin to offer better services in this regard. While mobile devices are often used in-store, the report shows that 61% of consumers use their smartphones and tablets to shop from home.
Retailers investing heavily in mobile commerce
The retail industry has been investing heavily in mobile commerce recently, hoping to capture the interest of tech-savvy consumers. Several companies, such as Tesco and Wal-Mart, have launched applications that make it possible to purchase products with nothing more than a mobile device. Google, as well as other technology companies, have also produced applications that serve as mobile payment platforms. These applications are becoming more prolific, giving a wider range of consumers an opportunity to participate in mobile commerce.
NFC technology may not be the future of mobile payments
The report shows that a great deal of the attention that is centered on mobile commerce revolves around NFC technology. NFC is one of the cornerstones of mobile payments, as it allows mobile devices to transmit financial information over a short distance. Strategy Analytics predicts that NFC technology will eventually fade away due to the lack of support for the technology and the security concerns that many consumers have due to the capabilities of NFC.