Author: Stephen

Mobile payments set to hit a new high during the holidays in the UK

| December 31, 2014

Report shows that online spending will grow significantly during Christmas and Boxing Day

IMRG, an online retail association, along with Experian, have released a new report concerning the online retail spending in the United Kingdom. The report predicts that Christmas shopping will be particularly active this year, with approximately $650 million in spending coming in on Christmas Day and nearly $800 million coming in on Boxing Day, which follows Christmas. The report suggests that smartphones and tablets will be the driving forces behind holiday shopping.

Mobile commerce continues to gain momentum in the United Kingdom

Many consumers in the United Kingdom have become quite fond of mobile commerce. Using smartphones and tablets to shop online and at physical stores had once been a sort of gimmick that retailers had supported to set themselves apart from their competition. Now, retailers that do not support mobile payments in some fashion could be missing out on a major opportunity to engage consumers. As such, many retailers have begun embracing the mobile space over the past year, preparing themselves for the holiday shopping season.

Holidays may be a turning point for the retail industry

Mobile Payments - Holdiay SeasonAccording to Powa Technologies, the holiday season will show that the retail industry must become more mobile-centric in the future. The company notes that a record $850 million was spent during Black Friday this year. This combined with the predicted $1.3 billion in online sales during Christmas and Boxing day may help retailers better understand the importance of the mobile space. As such, the holidays may serve as a major turning point for many retailers that have not yet been convinced of the value of mobile commerce.

Retailers that have mobile-centric promotional offers find more success among mobile consumers

A growing number of consumers are looking for discounts offered by retailers on their mobile devices. Some retailers have launched promotional initiatives in order to engage the mobile audience specifically. These retailers have found that they were able to attract the attention of mobile consumers more effectively, which increased mobile spending activity.

Mobile payments are lending momentum to higher business and consumer spending

| December 30, 2014

Report shows that business and consumer spending will hit $1.315 trillion this year

Business and consumer spending are on the rise in the United States, according to a new report from Forrester Research. The report cites and improving economic climate in the country as the reason for healthy growth in spending. Businesses and government agencies are also spending more money because of positive economic trends. The report predicts that total business and consumer spending will grow by 5.3% this year, reaching $1.315 trillion. Spending is expected to continue growing next year by 6%, as well.

Mobile payments are aiding in the growth of consumer spending

Mobile payments are lending power to this period of growth. Software spending, in particular, is expected to grow by 8.6%, reaching $284 billion. Mobile payment applications are a major factor when considering software spending. Numerous applications that allow consumers to spend money from their mobile devices have been released over the past year, and consumers have shown a great deal of interest in using these apps to shop online and in physical stores.

Mobile commerce continues to flourish in the United States

Mobile Payments - Consumer SpendingMobile commerce has become a powerful force in the United States. While no single mobile commerce platform or service has yet found mainstream acceptance among the majority of consumers, numerous platforms have managed to thrive in an environment where mobile shopping and spending has become quite popular. Consumers appear to favor mobile commerce because of its convenient nature. Payment apps allow consumers to use their mobile devices to shop and pay for products no matter where they are in the world. In-store mobile payment support has also made it easier for consumers to purchase their products quickly, helping them avoid lines and lengthy checkout processes.

Telecommunications spending in on the rise

The report from Forrester Research also shows that the telecommunications sector will generate $354 billion in revenue by the end of the year. This is a 1.7% increase over the revenue that the sector produced last year. Growth in telecommunications spending in 2015 is expected to accelerate, especially as more people purchase smartphones and tablets and companies work to improve their mobile infrastructure.