Mobile banking reaching new heights
Mobile banking is taking hold in Australia. The Market Intelligence Strategy Center, a financial services consultancy, has released new information concerning the state of mobile banking and mobile commerce within the country. More consumers are finding it easier to manage their finances through their mobile devices. This includes paying for products, managing investments, and accessing their bank accounts. These are all aspects of mobile commerce, a phenomenon that is growing in popularity around the world.
Analysis shows mobile banking reaches 6 million users
According to the Market Intelligence Strategy Center, mobile banking in Australia has exceeded 6 million users. The firm notes that it took nearly four years for Internet banking to reach the same milestone, but mobile banking has reached it in just over three. This data is based off of figures released by the Australian Communications and Media Authority, which notes that the adult population using smart phones is at 8.7 million strong throughout the country.
Banks begin embracing mobile consumers
The nation’s banks have been embracing mobile technology aggressively. Over the past year, nearly all Australian banks have made changes to their services in order to be more accommodating of mobile consumers. Many of these banks have seen the majority of their traffic come from Android devices, with iOS devices coming close behind. These banks have also found the mobile technology is a great way to sell products to consumers, as they enjoy a nearly constant connection with customers through a variety of mobile banking applications.
Focus on mobile may be good for banks
Mobile banking is expected to become more popular as mobile Internet speeds increase. 4G connections are becoming more common, but have yet to become universally available to all consumers. As Internet speeds increase, consumers are more likely to increase their reliance on the mobile devices they have come to love. This may be good news for Australia’s banks, as well as the country’s various mobile commerce initiatives that are working to attract the interest of mobile consumers.
Mobile games have found success, perhaps at the expense of retailers
There can be no denying the utter success that mobile games have seen in recent years. The game industry has begun to shift to be more accommodating of mobile consumers, while many developers have made a name for themselves through an exclusive focus on mobile games. Even developers that have traditionally clung to console games have begun entering into the mobile space. While mobile games have solidified the success for many in the game industry, it may take a disastrous toll on the retail sector.
Analysis suggests that game retailers may face uncertain future
Games are not the only things that are changing in the game industry; the way people get their games is evolving as well. In the past, consumers would have to visit physical stores to pick up games that they had been looking forward to. With the advent of mobile technology, and an increasing focus on Internet business, these stores are beginning to see less traffic. With mobile games pushing to dominate the game industry, these stores may actually see closure, according to 24/7 Wall St., a market analysis and news group.
Gamestop experiences turbulence in game market
Gamestop, a U.S.-based game retailer, may fall victim to the success of mobile games and the changing game industry landscape. For several years, Gamestop has sold games to avid consumers and boasts of more than 4,400 stores throughout the U.S. The company has done very well in solidifying its position in the game industry through its various partnerships with game developers. Despite these partnerships, however, the retailer has been seeing less in-store traffic, though its Internet traffic has increased significantly over the past several years.
Retailer expected to close 500 stores in the future
In November of 2012, Gamestop announced that it would be closing 200 of its stores in 2013. Mobile games were cited as part of the reason behind the closing of these stores. The retailer is projected to close an additional 500 stores in the coming years due to the impact of mobile games and other elements within the game industry. The company’s gross profit for the third quarter of 2012 show that its three core product segments have been hit hard. These segments are new hardware, new software, and used products.
