Author: BWild

Mobile commerce will be key for holiday season

The holiday season is rapidly approaching and that has major implications for the retail industry. Retailers are preparing for the busiest and most important time of year, in terms of business, and have targeted mobile consumers as a key demographic. More consumers around the world are becoming reliant on their mobile devices for shopping and daily activities. As such, these consumers present a promising opportunity for retailers looking to establish a constant level of engagement. Thus, the retail industry is growing more interested in mobile commerce and how it can be used to enthrall consumers during the holiday season.

New survey shows mobile penetration is high in the US

According to a new survey from Pew Internet, a leading non-profit research firm, shows that mobile device penetration has grown at a rapid pace. The survey suggests that 88% of all American adults now have a cell phone of some kind, with 63% of these people using their device to wirelessly connect to the Internet. With so many people relying on their mobile devices to connect to the Internet, retailers have seen an opportunity to establish a constant connection with these people. Many retailers believe that mobile commerce initiatives will entice these consumers to make purchases through their mobile devices.

Mobile commerce still unfamiliar for many people

Though many consumers have shown interest in mobile commerce, initiatives designed to get them to spend money through their mobile devices have had trouble getting any attention in the past. Mobile commerce is still a new and unfamiliar concept to many. It also comes with its own security issues, which could put the financial information of consumers at risk of exploitation. Moreover, some mobile commerce services rely on NFC technology, which is limited in terms of availability.

Successful mobile commerce initiatives could net major gains

Despite some of the problems mobile commerce faces, the retail industry is still keen to leverage this concept in an effort to engage mobile consumers. Those that can successfully attract the attention of these consumers may find that many of these people are willing to pay a lot of money to get what they want.

Deloitte, a professional services and consulting firm, has released the results a new survey concerning mobile commerce and the 2012 holiday season. Mobile commerce has been growing in popularity amongst consumers who are deeply involved in mobile technology. More consumers around the world are beginning to rely on their smart phones and tablets for more than just connectivity with friends, family, and the Internet. These consumers are turning to the mobile devices to make purchases for goods, a trend that retailers are beginning to respond to.

Survey predicts mobile consumers will have a large role to play during holiday season

According to the Deloitte survey, more than half the consumers that own and use a smart phone regularly are expected to use these devices for their holiday shopping this year. More than 5,000 consumers were surveyed by Deloitte over a 10-day period. The survey found that mobile commerce is, indeed, becoming a major part of the life of consumers, especially those that rely on their mobile device for a wide variety of services.

Majority of mobile consumers willing to spend more money

The survey predicts that 62% of shoppers using their mobile devices will do so at physical store locations. Approximately 58% of consumers will use their mobile devices to compare prices or look for more information on products. While this may be becoming a more common aspect of the retail industry, mobile commerce has significant economic implications that may be great news for this industry. According to Deloitte, 72% of mobile consumers are expected to pay more overall during their shopping than consumers that do not participate in mobile commerce. Each of these consumers is expected to spend more than $1,400 during the holiday season.

Mobile commerce expected to impact future holiday seasons

Mobile commerce is expected to translate into major gains for the retail industry, and especially for companies that are putting a strong focus on appealing to mobile consumers. The trend is expected to grow in the coming years, according to Deloitte, with the 2013 holiday season likely to see higher engagement throughout mobile commerce platforms than in previous years.