Millennials are a very powerful demographic when it comes to mobile shopping

Millennials have become a very powerful demographic in the mobile commerce space, but connecting with these consumers have proven quite difficult for many companies. For years, companies have focused on older generations because they were relatively easier to connect with. The advent of mobile payments systems has caused a shift in priorities for retailers, however, and these companies are now beginning to seek out ways to better engage millennials, most of whom grew up steeped in mobile technology.

This demographic accounts for $600 million in spending and have a strong interest in mobile commerce

Millennials account for an estimated $600 million in spending, which makes this demographic quite attractive to retailers. Many of these consumers have shown that they are interested in mobile commerce and shopping online. These see this as more convenient than conventional forms of shopping and are more willing to use their smartphones to make purchases. This is because many millennials have never lived in a world separated from the Internet, and thus have become heavily reliant on mobile technology and being able to connect to the digital world on a whim.

Retailers will have to find new and dynamic ways to connect with mobile consumers

As retailers become more invested in mobile commerce, they will have to find ways to engage millennials specifically. The problem, however, is that this demographic has shown itself to be somewhat fickle, unlikely to support a singular payment or retail platform for any significant length of time. Loyalty programs may ensure consumer dedication for a time, but businesses will have to find other ways to effectively engage consumers in order to secure their loyalty.

Customer experience has become a very important thing for consumers

The mobile payments space is likely to continue to grow well into the future, surpassing the e-commerce market, in terms of growth, in the coming years. As the sector grows, new payment platforms are likely to feature better customer experiences, tapping into the demands coming from consumers. Better customer experiences are in high demand among millennials, which is forcing some companies to transition from the mobile web to applications, or vice versa, in order to making online shopping more convenient.

The iconic smartphone advertising company is letting about 100 people go out of around 1,000 total employees.

InMobi, a mobile ad company that has been seen as a considerable Indian success story that has been drawing leading talent and investors throughout the tech industry has now revealed that it is laying off a massive ten percent of its staff.

The cutbacks are going to affect approximately 100 people out of the total staff of 1,000 company employees.

This is the most recent indicator that the mobile ad network is finding it increasingly challenging to be able to survive the staggering competition from giants such as Facebook and Google. The startup has been in direct competition with those massive players when it comes to the data-driven mobile marketing arena. InMobi had been maintaining great hopes for their products, but the startup has not been meeting its targets when it comes to revenue, moreover the burn rates don’t appear to be decreasing, say many media reports.

The mobile ad network has received venture funding from exceptionally powerful top investors.

Among those investors are Sherpalo Ventures from Caulfield & Byers and Ram Shiram, and Softbank from Japan. In 2011, it was the recipient of $200 million from SoftBank, bringing it to the point of being a startup that had more than $1 billion as its market cap.

According to an anonymous source who has knowledge of the latest developments at InMobi, “Investors have told them (InMobi) to reduce costs,” adding that “The layoffs have happened from the senior executive level to the programmer ranks.”

A spokesperson was reported to have said in an email query response that employees have left for a range of different purposes, such as starting their own ventures or moving forward with various career aspirations. That individual explained about the mobile ad network that “We also let go of a few people for performance reasons each year.” That person stated that the startup has a strategy in place for 2016 for driving growth, which included the hiring of 40 additional employees and that it had issued offers for more than 48 management and engineering grads.