BWild |
February 17, 2013
Mobile commerce continues to attract the attention of eBay
eBay has been seeing strong growth in recent months. The past year has been very successful for the online retailer, partly due to the company’s increasing focus on mobile commerce. As more consumers begin to rely more heavily on their mobile devices in their daily lives, they are opting to use their smart phones and tablets to shop and bank. This growing trend holds promising prospects for eBay’s future growth and the company has come to embrace mobile commerce aggressively.
CEO expects commerce to evolve quickly in the near future
eBay CEO John Donahoe has been speaking out about the company’s interests in mobile commerce recently. Donahoe is a strong advocate for mobile commerce in general and has been working to direct the company toward new ways to accept mobile payments. The CEO has suggested that mobile commerce could be a major boon for retail, especially that which is restricted to the digital world. With more people adopting mobile devices, Donahoe believes that mobile commerce will change over the next three years than commerce in general has over the past decade.
Security is a major concern with consumers
The adoption of mobile commerce has yet to show signs of slowing down. Consumers all over the world have shown a strong interest in using their mobile devices to make purchases, but many people still have concerns over the practice. Security is the most significant of these concerns. Adoption of mobile commerce may be high among consumers, but it has yet to reach its full potential because of the security concerns that many consumers have. Until mobile payments can be made more secure, mobile commerce will continue to experience complications in the adoption process.
eBay opening up mobile commerce for other retailers
eBay accounts for approximately 20% of all e-commerce transactions throughout the world. The company represents a very strong commerce platform that has enabled to emergence of new retail groups for several years. By adopting a stronger focus on mobile commerce, eBay is also opening up new avenues of business for the retailers that rely on the company’s platform.
Mobile commerce beginning to blend with social media
Mobile commerce has been booming in several markets around the world recently. Companies are beginning to see the major benefits of engaging mobile consumers and providing them with new ways to purchase products. South Korea has seen significant economic gain through the adoption of mobile commerce recently, especially as businesses throughout the country begin to blur the line between mobile commerce and social media. yStats, a market research and analysis firm, has released a new report concerning the growing trend of social commerce.
Report highlights mobile sales throughout 2012
According to the report, more than three quarters of the South Korean population made use of the Internet in 2012. The vast majority of these people went online to purchase products, as well as engage in social media. The report shows that in 2012, for the first time in the country’s history, more people accessed the Internet through their mobile devices than through traditional computers. Mobile sales in South Korea for the year reached over $10 billion, showing that mobile commerce has established a very strong presence within the country. yStats suggests that social commerce is becoming a very powerful trend in the South Korean market.
Social networks beginning to embrace mobile commerce
Mobile consumers are constantly engaged in social media sites like Facebook and Twitter. While these sites have typically shied away from any sort of commerce, they have been growing more interested in the prospects of mobile commerce in recent years. Facebook, for instance, has been experimenting with ways to allow users to purchase products through e-commerce platforms that can be accessed by a mobile device. Because consumers have a penchant for sharing their interests and connecting with businesses through social media, such services could be very lucrative for companies that have a strong interest in mobile commerce.
Security continues to be a significant issue for consumers
Social commerce is still in its infancy. There are many potential challenges that must be overcome before social networks can fully embrace mobile commerce on any level. One of the most daunting challenges that social media faces is security. Mobile commerce, as a whole, has been plagued by security issues that have caused many consumers to avoid using their mobile devices to purchase products. If social networks can find a way to secure the financial information of their users, mobile commerce may become much more common in the future.
