Mobile payments continue to grow in China
Maverick China Research, a market research firm based in China, has released a new report concerning mobile payments and the favor they garnered among consumers in 2013. Mobile commerce has become a powerful force in China, especially as ownership of smartphones and tablets continues to rise at a rapid pace. A growing number of people are showing a strong interest in shopping online, using their mobile devices to find and purchase products that they are interested in.
Consumers are becoming more interested in online shopping
According to the report, the mobile commerce field saw a great deal of activity throughout China in 2013, especially where retail is concerned. The report notes that more retailers have come to embrace mobile payments as a way to engage a new generation of consumers that have a strong reliance on their smartphones and tablets. These retailers have developed or purchased point-of-sale systems specifically meant to accommodate mobile commerce.
Mobile device ownership grows
The report notes that mobile devices have reached a point where they can reliably provide an enjoyable mobile commerce experience. Moreover, the number of consumers that have smartphones and other such devices has reached new heights in China, and many of these people are showing that they are willing to shop online. According to the report, approximately 30% of the mobile devices sold throughout China at the start of 2013 were smartphones.
3G helps mobile commerce prosper
Mobile Internet has also become more reliable in China over the past year. China’s 3G networks have been bolstered by telecommunications companies and an estimated 200 million people make use of these networks on a regular basis. A fast and reliable Internet connection is needed for an enjoyable online shopping experience and 3G has helped mobile commerce establish a stronger presence in China than it had in previous years.
Firm highlights potential of mobile gaming
Mediabrix, a mobile and social gaming advertising firm, has been heralding the potential of mobile games for some time. These games have become resoundingly popular among consumers around the world and, as such, have also become very attractive advertising platforms. The marketing potential of mobile gaming has yet to be fully actualized, but Medibrix has been showing the revenue generation capability of gaming advertisements and how effective in-game ads can actually be.
In-game ads reach $200 CPM
Mediabrix has reported that its in-game advertisements are generating $200 CPM across multiple platforms, 180 times greater than that produced by traditional advertisements. CPM denotes the rate that marketers will pay to have their ads hosted on a particular platform. The higher the CPM, the more valuable the platform is to marketers. According to data provided by Mediabrix, mobile games may be one of the most valuable marketing platforms there is.
Popularity of mobile games proves successful for advertisers
The value of mobile games is linked to their popularity among consumers. These games are both easy to obtain, as most of them are free, and easy to play. Because of their mobility, these games can be played anywhere and at any time. Moreover, consumers tend to jump from game to game relatively quickly, exposing themselves to a wide variety of games as well as the advertisements that these games host.
Fickleness of consumers may be bad for developers
Despite the apparent potential of mobile games, monetization of these games has been a difficult issue for many startups. New and independent development firms often fail in their monetization efforts because their mobile games are not able to find traction with consumers. Notably, the way consumers move from one game to another in quick succession has created a turbulent environment wherein developers have a difficult time holding the attention of a particular gamer long enough to generate any significant revenue.
