Tag: deloitte

Deloitte report predicts the growth of mobile commerce in Canada

| January 27, 2016

Mobile technology is having an impact on several sectors throughout Canada

Multinational professional services firm Deloitte has released a new report highlighting the trends that are expected to be seen in the mobile space over the next 18 months. The report predicts that mobile technology will have a significant impact on a variety of sectors, ranging from retail to artificial intelligence. Notably, mobile commerce is expected to gain significant momentum over the next 18 months, especially as retailers become more supportive of mobile payment systems.

Young consumers are showing strong interest in mobile commerce

Last year, Deloitte’s report proved to be approximately 80% accurate. This year, the report highlights the potential for millennials, who have long been an elusive demographic, to drive the growth of mobile technology in various sectors. Notably, those between the ages of 18 and 24 are less likely to use their mobile devices over their personal computers. They are, however, quite interested in mobile commerce. This interest comes from their inherent ties to mobile technology, as most of those within this demographic have grown up steeped in devices like smartphones.

Number of people using mobile payments service to grow by 150% in Canada

Mobile Commerce Growth in CanadaDeloitte predicts that, in Canada, mobile commerce may see aggressive growth. The firm expects to see a 150% increase in the number of Canadian consumers using mobile payments services over the next 18 months. Consumers are showing favor for mobile commerce because of its convenient nature. As mobile payments service become more secure, consumers are also becoming more willing to use these systems to purchase products that they are interested in. Retailers are expected to continue supporting mobile commerce more aggressively as well.

Mobile games are becoming very popular among consumers

The report from Deloitte also predicts that more consumers will become involved in mobile gaming. Canada is home to the third largest game industry in the world, valued at approximately $2.3 billion and employing more than 200,000 people. Canadian consumers are showing strong interest in mobile games, which also serve as another channel through which they can spend money.

In-store mobile payments are booming in the US

| December 16, 2015

More consumers are using their mobile devices to make purchases in physical stores

In-store mobile payments are becoming more common in the United States, according to a new report from Deloitte. The report shows that more consumers are beginning to use their smartphones in stores, taking advantage of the mobile payments systems that retailers have in place. Retailers have been reporting an increase in mobile traffic in their digital channels, but more merchants are beginning to see consumers making payments with their smartphones and other devices in physical stores.

Report shows that in-store mobile transactions have grown by 18% in 2015

According to the report from Deloitte, the use of mobile payments in physical stores has grown by 18% this year. The report shows that 3% of shoppers are making in-store mobile payments every day, with 5% doing so every week. The most popular use of mobile payments among these consumers was for public parking. Consumers are also using their mobile devices to make purchases at gas stations, coffee shops, and fast food restaurants. Consumers between the ages of 25 and 34 are the leading demographic in the mobile payments sector.

Consumers still have significant security concerns regarding mobile payments

Mobile Payments - In StoreThough consumers are beginning to show more support for mobile payments, they also have significant security concerns. The report shows that these concerns are the leading reason many people do not make mobile transactions. Approximately 49% of consumers place their trust in banks and other financial institutions for the provision of the payment services they use. Companies involved in the mobile commerce space have taken note of the security concerns that consumers have, with many introducing new technology to ensure the safety of consumer information.

Retailers are embracing mobile payments in order to engage consumers

Deloitte has noted that mobile devices are becoming much more than communication tools. More consumers are beginning to rely heavily on their smartphones and tablets for commerce. With more consumers entering into the mobile commerce space, retailers are expected to show more support for mobile payments system, ensuring that they have the ability to engage mobile consumers.