Tag: ecommerce

 Mobile commerce to have significant impact on UK retail industry

The Economist Intelligence Unit, an independent research and analysis firm operating in the European Union, has released a new report concerning the impact of e-commerce, mobile commerce, and social commerce on the retail industry in the United Kingdom. UK retailers have been seeing an increase in demand from consumers interested in using their mobile devices as payment platforms. In response, many retailers have begun adopting mobile commerce systems, such as NFC terminals, as well as bolstering their online presence to be more accommodating of social commerce and e-commerce.

New commerce to make up a third of all retail sales in the UK in 10 years

The report predicts that sales from e-commerce, m-commerce, and s-commerce are to make up more than a third of all sales in the UK within the next ten years. These types of commerce account for roughly 10% of all retail sales made in the UK currently. Social commerce is one of the most rapidly growing forms of commerce emerging in the UK. This form of concept refers to sales made through social media sites, like Facebook and Google+. E-commerce has always been a popular option for consumers that prefer not to visit physical stores, but mobile commerce may become the leading form of commerce amongst all consumers.

Mobile commerce may reign supreme

The report shows that mobile commerce is growing in popularity and may soon become the primary shopping medium amongst consumers by 2022. The report suggests that consumers are more likely to make impulsive purchases when using mobile commerce platforms, thus giving retailers even more incentive to become more accommodating to these consumers. Given that many of these consumers are constantly connected to social media sites, both mobile commerce and social commerce initiative may stand to net major gains for retailers in the UK.

More consumers expected to participate in new forms of commerce in coming years

Online sales channels continue to outperform traditional channels. The Economist Intelligence Unit predicts that consumers will favor online channels throughout the next ten years, especially as more retailers adopt mobile commerce services and the availability of NFC-enabled mobile devices grows. Several companies are experimenting with alternatives to NFC technology that may broaden the horizon of mobile commerce, as well. These efforts are expected to bring more consumers into the fold and add further momentum to new forms of commerce in UK and around the world.

Retailers pressured to adopt mobile commerce to engage consumers

Consumers around the world are becoming more mobile. That is, more consumers are relying on mobile technology to operate in their daily lives. Mobile technology has made many aspects of people’s lives more convenient, such as social interaction due to their constant connection to the Internet. Commerce is also being revolutionized by mobile technology and people’s growing need for convenient service. More consumers are beginning to look for alternatives to traditional, physical stores, and many have turned to mobile commerce and e-commerce.

Retailers look for ways to bridge gap between online and offline worlds

Mobile consumers are turning to the Internet to find the products and services they want to pay for. As more consumers look online, retailers are feeling the pressure to adapt or risk losing contact with a growing portion of their audience. Thus, businesses are looking for ways to close the gap that currently exists between the online and offline worlds. Few retailers are willing to abandon physical stores, so many are attempting to provide consumers with incentives to visit these stores through the use of mobile commerce.

Mobile commerce services being adopted by large retail companies

Big name retailers, such as Macy’s and Nordstrom, are working to make use of digital technologies in order to provide consumers with better in-store service. These companies have been working to broaden their reach through mobile commerce and e-commerce and, as a result, have been seeing declining in-store sales. Some consumers have even begun gravitating to online shopping platforms that are offered by other companies. This competition is driving innovation in the retail industry as companies attempt to find the best balance between mobile commerce and traditional forms of engagement.

Study predicts sales in mobile commerce to double next year

A recent study from Internet Retailer, called Mobile 400 Guide, shows that mobile commerce is growing. The study predicts that mobile commerce sales will double in 2013 as more consumers gain access to smart phones and mobile devices that are capable of facilitating mobile transactions. Retailers are feeling the need to find ways to engage consumers that are becoming increasingly enthralled in the world of mobile technology.