Tag: bi intelligence

Mobile commerce continues to see explosive growth

| May 5, 2013

Mobile Commerce Explosive GrowthMobile commerce is showing no signs of slowing down

The explosive growth of mobile commerce has yet to show any signs of slowing down. Retailers and other companies are beginning to take mobile commerce very seriously, investing in this burgeoning industry and introducing new mobile shopping services to consumers. While mobile commerce has attracted a great deal of attention, many brands and retailers are still wondering how to take advantage of the aggressive growth being seen in the sector.

Critical mass of mobile consumers contributes to growth

A new report from BI Intelligence attempts to highlight the most significant reasons why mobile commerce is growing so quickly. The report suggests that one of the most prominent of these reasons is the critical mass of mobile consumers. Mobile devices are more available today than they have ever been in the past, which means that more consumers are purchasing and using such devices. The advent of mobile technology has lead to the emergence of new games and other forms of entertainment and productivity, but it has also sparked a shift in commerce.

Experimentation in marketing helps attract more consumer attention

Another factor contributing to the growth of mobile commerce is brands and retailers experimenting with mobile trends. These groups are beginning to put product catalogs and digital coupons to use in order to attract consumers to their e-commerce initiatives. These initiatives have proven somewhat popular among those with mobile devices, and many of them have demanded the ability to purchase products using these devices rather than traditional computers.

Young consumers may be a boon for mobile commerce

According to BI Intelligence, demographics are playing a big role in the growth of mobile commerce. The firm suggests that nearly 50% of those between the ages of 12 and 17 use their smartphones as their primary Internet device. These young consumers are regularly browsing the Internet and have proven themselves to be susceptible to advertisements and other marketing campaigns designed to attract them to e-commerce sites.

Mobile payments competition heats up as commerce revolution takes hold

| April 3, 2013

Mobile Payments competitionWho will emerge as a leader in mobile payments is not clear

Mobile payments are beginning to disrupt traditional forms of commerce as more consumers begin to rely more heavily on the smartphones and tablets. These devices have made it exceedingly convenient for consumers to purchase products and services either online or in-store. As mobile payments become more prolific, the mobile commerce market is beginning to brim with competition. Several countries and companies have invested heavily in this market, but it is not entirely certain who will emerge as the dominant force within this industry.

Report shows that consumers are eager for new mobile commerce services

BI Intelligence, a market research and analysis firm, has released a new report that offers insight on mobile payments and those that are leading the way in the current market. According to the report, much of the mobile commerce world is driven by what consumers want. Consumer demand, for instance, has lead to the development of mobile payments platforms that can be used both online and at physical stores. Approximately 52% of consumers wanted such platforms, which are likely to become significantly more available in the coming years.

Singapore among the top countries ready to embrace mobile payments

The report suggests that companies like Square and PayPal are likely to thrive in the coming years, largely due to their very early adoption of mobile payments. Both Square and PayPal have a heavy focus on the mobile space, making them more attuned to the demands coming from consumers than their competitors. In terms of countries, Singapore is considered to have the most mobile commerce “readiness,” with the U.S. and the United Kingdom boasting of average readiness.

US and European consumers are not fully accepting of mobile commerce

While companies could see significant progress in the realm of mobile commerce in the coming years, consumers have yet to be fully won over by mobile payments. BI Intelligence notes that only 10% of consumers in the U.S. and Europe participate in mobile payments.  Many are willing, but concerns regarding security are keeping most consumers tethered to traditional forms of commerce.