Tag: mobile commerce study

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.

Smartphone based purchases are representing a very large proportion of the overall figure.

The largest online marketplace in India, Snapdeal, has just released its mobile commerce data in that it has revealed that at the moment 30 percent of online purchases are originating from smartphones.

This trend has appeared to increase to a tremendous degree on the website, skyrocketing over last year’s figures.

When compared to the mobile commerce proportion of online purchases, last year, it looks as though the figure has grown by a tremendous 10 times. This is because at the same time last year, only 3 percent of the Snapdeal purchases were originating from smartphones.

The mobile commerce research was conducted by Snapdeal, itself, and provides insight into buying behaviors.

This mobile commerce study provided interesting and useful knowledge regarding the way that consumers behave, and the trends that are forming around them. The average number of visitors recorded by Snapdeal for its website was between 35 and 40 million per month. Among them, 12 million are from smartphones. From that 80 percent is organic, and 60 percent is new to the website. Among those shopping from their smartphones, 75 percent were COD, while the last quarter paid in advance.

This last data suggests that consumers may not be entirely comfortable making mobile commerce purchases online, and that they are taking precautions by paying on delivery instead of trying to pay in advance before they have received the product, in the vast majority of circumstances.

The majority of the mobile commerce visits to the sites originated from the cities of: Hyderabad, Bangalore, Kolkata, Chennai, Mumbai, and Delhi – listed in no particular order. The top selling categories over this channel on the Snapdeal website were clothing (both men’s and women’s), men’s footwear, flash drives, and memory cards.

This mobile commerce data, as a whole, suggests that the majority of smartphone users are shopping a great deal more over their devices and that this growth rate is an exceptionally rapid one considering the difference between the figures from last year and the statistics that have been recorded from this year.