Tag: m-commerce report

Gartner releases a report highlighting changing consumer behavior and mobile commerce growth

Gartner has released a new report that suggest that mobile behavior in the United States will continue to drive revenue growth in the mobile commerce space. The report highlights a “rampant” growth in interest in mobile payments, and this interest is expected to accelerate the growth of mobile commerce this year. Consumers are growing more comfortable with the concept of mobile shopping and, as such, are beginning to participate in this practice more regularly.

Mobile commerce revenue in the United States is expected to double this year

According to the report, mobile commerce revenue in the United States is expected to double this year. Many sectors of the mobile commerce field are expected to experience a 22% increase in revenue in 2015, with mobile commerce revenue as a whole growing by 50% in 2017. This growth is being powered by the number of people that are participating in mobile payments. As more people embrace mobile shopping, revenue in the mobile space will continue to grow at a rapid pace.

Large retailers may not to embrace mobile commerce more quickly than smaller retailers

While retailers have been showing more interest in mobile commerce, large companies may not need to accelerate their mobile initiatives to engage consumers. Large retailers will likely continue to focus on traditional engagement strategies, as in-store experiences continue to be the most critical part of their business strategies. Smaller retailers, however, may see great benefit by embracing mobile commerce, as it will allow them to better compete with their larger counterparts and attract the growing mobile audience that is becoming more influential.

New standards could lead to safer mobile transactions in 2015

The report notes that changing credit card standard will lead to a shift in liability for fraudulent transactions this year. Retailers will be required to make updates to their point-of-sale systems in order to comply with these new standards. The standards are meant to support safer credit card purchases and make room for the growing prominence of mobile payments in the retail space.

According to a recent Shopgate report, retail needs to appeal to smartphone using consumers.

Shopgate, a highly recognized m-commerce business solution, has released a report called the “2013 Holiday Guide for Online Retailers”, which provided the top 10 recommendations for success, this holiday season.

Among those points, the focus on catering to smartphone users was a considerable one.

What was explained by Shopgate in its report was that retailers should start acting right away to make their way into m-commerce if they haven’t already prepared their strategy for the upcoming holiday shopping season. It is no longer enough to focus on online shopping in general and as a whole. Instead, a focus also needs to be placed specifically on the mobile channel.

In fact, when it came to getting into m-commerce, the recommendation was “do it now!”

The report from Shopgate pointed out that m-commerce traffic is not only already representing more than 20 percent of all American internet traffic, but it is also expected to exceed desktop based internet traffic by the end of next year. The holiday season is predicted to be the transitional time into that exceptional rate of growth to the point that it will be greater on smartphones and tablets than it is on laptops.

The report pointed to a number of m-commerce findings from several recent studies.

For example, it pointed out that shopping over m-commerce is expected to reach $42 billion by the end of this year, and that it will make up a larger segment of e-commerce than has ever been experienced before, according to eMarketer.

In fact, the report went to the extent of saying that retailers that choose not to take part in m-commerce may be actively choosing not to take advantage of an important source of revenue. It pointed to data from Econsultancy, which indicated that 62 percent of businesses that have created a website that is specifically optimized for smartphones and tablets, had increased their sales. The recommendation for the upcoming holiday season was to use mobile friendly elements such as: coupons, push notifications, ad scanners, daily deals, QR codes, mobile SEO, and product categories.