Leaked documents suggest that Twitter is looking to establish itself in mobile shopping
Twitter may be preparing to jump into the mobile commerce game. According to leaked documents obtained by the UK Telegraph, the social network may soon make it possible for its 232 million users to purchase products directly from their mobile devices. The documents suggest that the service would be called Twitter Commerce, but there are not indications when this service would be made available for certain. Moreover, the leaked documents cannot necessarily be considered accurate and they could be nothing more than simple rumors.
Documents imply that Twitter has partnered with Fancy
The leaked documents suggest that the social network’s mobile commerce endeavors will come to fruition through a partnership with Fancy, an e-commerce merchant. Fancy counts Jack Dorsey, Twitter’s founder, as one of its prominent investors and board members. While this does not indicate Twitter’s absolute interest in mobile shopping, it does help establish a solid connection between the social network and Fancy. The leaked documents show mock-ups concerning how Twitter users would purchase products directly from product tweets that include a button that says “buy with Fancy.”
Twitter retains a strong focus on the mobile sector
Twitter has a strong interest in the mobile sector, but not necessarily commerce. The social network has done little in the way of directly supporting mobile payments and shopping, but Twitter has been working on ways to monetize its mobile interests. Facebook recently discovered the benefits of mobile commerce and how to integrate mobile shopping into its network and Twitter may soon follow suit. Indeed, this may be the beginning of a new trend in social media, wherein social networks begin to play a bigger role in the commerce space.
Mobile competition is already fierce
While Twitter may show an interest in mobile commerce, it will have to find a way to compete with organizations that already have a strong presence in that sector. The commerce space is awash with competition from various small firms and some large companies, including Google. Apple is rumored to be looking to enter into the mobile commerce space as well, which will add further competition to the crowded field.
China continues to show favor for mobile payments and similar services
Mobile payment services in China have seen strong growth in 2013. A new report from iResearch, an online tracking and data analysis firm, shows that independent mobile commerce platforms have found a great deal of support from Chinese consumers. People throughout the country are turning to these platforms in order to shop online and pay for products they are interested with their mobile device rather than with physical currency. As device ownership continues to grow, mobile commerce is expected to become much more prevalent throughout the country.
707% growth in mobile payments throughout 2013
According to the report from iResearch, some $200 billion in mobile payments was made throughout 2013. This represents a 707% year-over-year increase and the momentum that mobile commerce platforms have already been able to generate is expected to carry well into the future. Consumers claim to favor mobile commerce services because of their convenience and the fact that they allow people to manage their finances from their mobile devices rather than being forced to do so at home from their computers.
Report shows that NFC technology is losing ground
The report from iResearch suggests that mobile shopping is no longer the main attractor of most mobile commerce platforms. According to the report, online money transfers and banking features are quickly becoming the main reason people use these platforms. As these services see more attention from consumers, their use of NFC technology is beginning to diminish. The report shows that NFC-based mobile commerce services in China dropped from 2.6% in 2012 to just 0.8% in 2013. NFC has never been popular in China and mobile commerce services have managed to find success without making use of the technology.
China is becoming increasingly mobile-centric
China has established itself as a very active and attractive mobile market. Not only are mobile payments flourishing throughout the country, but mobile games are also generating a great deal of profit and economic activity. Advertisers in China are also beginning to focus on mobile consumers more aggressively, launching interactive mobile marketing campaigns that are designed to be more dynamic than traditional marketing initiatives.
