Author: Stephen

Mobile commerce is becoming more important for retailers

| December 8, 2015

Emerging opportunities push retailers to become more mobile-centric

New opportunities are emerging for retailers in the mobile space, which is leading to them upgrading their mobile applications and websites in order to effectively engage consumers, according to a new report from Boston Retail Partners. The report shows that mobile commerce has become quite profitable for retailers, but in order to find continued success in this space, they must address issues concerning security and consumer privacy. This is becoming especially important as fraud is growing more prevalent in the e-commerce and mobile commerce spaces.

Report highlights the need for retailers to upgrade their mobile websites and apps

The report shows that mobile websites are becoming an important priority for retailers. These websites allow retailers to better engage mobile consumers, and Google has recently required businesses to ensure that they have mobile sites in order to retain their search rankings. Mobile apps are also a priority for retailers, as they allow consumers to efficiently shop online. For physical retailers, these apps are especially important, as they will allow merchants to effectively engage consumers that are interested in mobile commerce.

Security is becoming a top priority as EMV standards spread throughout the world

mobile commerce important for retailersAs mobile commerce grows, retailers will have to address issues concerning security and privacy. The report shows that as EMV standards are imposed in counties, in-store fraud falls dramatically. The problem, however, is that the introduction of these standards causes the online fraud to skyrocket. With many retailers embracing these standards, they are finding it more important to improve their security measures, especially if they want to compete in the mobile commerce market aggressively.

Retailers are beginning to see the challenges associated with bringing their various channels together alongside mobile

With mobile commerce becoming more important, retailers are finding it more challenging to integrate all of their channels. Retailers must provide consumers with seamless experiences in order to provide them with effective services, but this has proven quite challenging for some businesses, especially if they do not have extensive experience with the mobile and digital spaces.

Mobile commerce continues its aggressive expansion in China

| December 4, 2015

China is leading the way in mobile commerce growth

China is becoming more aggressive when it comes to mobile commerce. Until very recently, the country has relied heavily on cash rather than other forms of commerce. Many shoppers throughout the country had preferred paying in cash because they considered it more secure and convenient. As smartphone penetration grows, however, more consumers are beginning to use their mobile devices to shop for and purchase products. Large companies are beginning to take advantage of this, offering consumers new services that allow them to participate in mobile commerce.

WeChat is finding success by encouraging consumers to use its mobile payments service

WeChat is one of the companies looking to bring consumers into the mobile commerce field. WeChat is China’s largest messaging application and social network and the company launched an ambitious campaign last year to highlight its new payments service. During Chinese New Year last year, some 400 million people sent hongbao, traditional gifts containing money sent during the holiday, to their friends and families. This year, however, more than 1 billion digital hongbao were sent through WeChat’s service.

Consumers are finding it easier to shop for and purchase products with their mobile devices

China Mobile Commerce Booming GrowthConsumers are becoming more comfortable with the concept of mobile commerce, using services like Alipay to purchase products that they are interested in. The companies and retailers behind these services are quickly expanding, looking to find every greater degrees of success in the mobile commerce market. Some of these companies, such as Alibaba, are also investing in foreign mobile commerce firms, hoping to establish a foothold in new markets and encourage the further growth of the mobile commerce field.

Young consumers are more likely to participate in mobile commerce

While many consumers still prefer to pay for products with cash, young consumers are embracing mobile commerce quite aggressively. These consumers have been exposed to technology from a young age, making them more comfortable with digital services. Older consumers are also embracing mobile commerce, but at a slower pace. As new services become available, more consumers are expected to become involved in mobile shopping.