Mobile commerce trends and will they last – What are consumers saying

Today’s businesses must not only go mobile, but must do it while keeping up with other trends.

Shopping via mcommerce is undergoing exponential growth, and as smartphones become increasingly popular and customer awareness of how to take part in the many different forms of the sector – from information to discounts to purchasing – it is only expected to skyrocket further.

Mobile commerce industryeBay and Nielsen have each released the retail trends that start with smartphones and work outward.

The latest eBay Online Business Index (OBI) has shown that approximately half of all of the participating businesses had stated that they would be optimizing their online content for mcommerce. Nearly another quarter – 24 percent – stated that they would be developing a site meant specifically for mobile, while over 20 percent said that they would be creating an app.

The reason is that consumers want to be able to interact with their favorite companies through mobile commerce.

The most recent annual Nielsen Retail and Shopper Trends Report identified a wide list of trends that represent the way that the marketplace is shifting. Top among them is mcommerce, but it is clear that many of the other trends are closely linked to this sector and must be woven into its strategies.

Among these trends are the following:

• Mcommerce – this holds the top spot because its growth and hype is simply unmatched. It is a trend that is acting like a craze, as consumers find themselves equipped with everything they need once they purchase a smartphone. eBay, itself, just experienced its 100 millionth download of its app, and has now recorded 100 million mobile listings.

• Private labels sliding – Nielsen’s report showed that there has been a slip of 0.7 percent in the overall penetration of private labels. This is especially true in the grocery sector. Branded products emphasis by top retailers has been a primary driver in this trend. It shows that price wars are fierce and that shoppers are looking for the best deal and not necessarily the store they used to automatically choose. Mcommerce can benefit greatly by this knowledge, as can those who are marketing over mobile channels.

• Price importance – the latest report from Nielsen showed that the awareness of price among shoppers has risen significantly. Two years ago, fewer than 50 percent of consumers felt that they felt confident that they knew the prices of the products that they purchased the most frequently. This leapt to 60 percent this year. Price is a key factor in purchasing decisions, particularly with the movement away from private labels. As mcommerce is a sphere where a consumer can comparison shop among dozens, if not hundreds of different shops for the same or a similar product, prices must be competitive and easy to obtain, while value must be clearly demonstrated.

GfK Group study highlights promise of mobile commerce in Singapore


Mobile Commerce SingaporeGfK Group releases new study concerning mobile commerce

The holiday season is here and that could mean major success for retailers looking to cater to the growing number of mobile consumers. A new study from the GfK Group, a consumer research agency, suggests that shoppers are planning to rely heavily on their mobile devices during the holiday season, at least in Singapore. Though the study focuses on Singaporean consumers, the trend of consumers relying on their mobile devices for commerce and online shopping can be seen all over the world.

Study shows online shopping could save consumers time and net retailers more money

According to the study, online shopping could save consumers as much as 45 hours, much of which is standing in line or waiting for service. This time equates to approximately $1,400, suggesting that retailers lose a significant amount of money if consumers lose time. The study also found that approximately 43% of all Singapore consumers are using their smart phones and tablets to find the products that they are interested in, a promising sign for mobile commerce.

Singapore proves to be promising mobile market

The GfK Group study notes that mobile commerce is growing in Singapore, and elsewhere. In Singapore, 78% of consumers use mobile applications to access online retail stores, with a sizeable portion of these people using these applications to purchase products. Singapore is one of the most promising mobile markets in the world, with a smart phone penetration of over 88%. This is part of the reason why companies interested in mobile commerce are so eager to establish themselves in the country.

GfK Group study commissioned by PayPal

The GfK Group study was commissioned by PayPal. The company has already established a powerful presence in the realm of commerce, but has been working to appeal to mobile consumers in a more appealing fashion. The company has been tracking the demand for mobile commerce services over the years and is positioning itself to meet these demands around the world.