Tag: m-commerce

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

Shopping via mobile commerce 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.

eBay 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 mobile commerce 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.

More consumers becoming interested in mobile commerce

The retail industry has been eager to appeal to mobile consumers, but many companies seem to have been approaching the issue with a certain degree of caution. Slow implementation of mobile-centric services, such as mobile commerce, coming from retailers has not gone unnoticed by consumers. A new study from Moosylvania, an advertising agency, shows that a large number of consumers want to see more mobile information and mobile commerce services in the stores they favor.

Study shows majority of consumers want more mobile-centric services

According to the study, which surveyed 1,874 smart phones owners, 80% of consumers want to see more product information made available on their smart phones. The study notes that consumers want to see this information in a way that is optimized to be viewed on their mobile device. This demand is becoming more apparent as the number of consumers who rely on their smart phones while shopping increases. Consumers are becoming more likely to use their smart phones and other mobile devices while shopping in order to take advantage of special offers made by retailers online, as well as take advantage of the convenience offered through mobile commerce services.

Mobile research is high among smart phone owners

The study shows that 30% of smart phone owners typical research products through their devices while away from home. Approximately 73% of consumers compare prices on certain products offered by several retailers. The study also shows that these consumers are more likely to spend large amounts of money through mobile commerce. Approximately 50% claim they have made a purchase of $100-$999 using their mobile device. Only 12% of consumers claim to have never used their smart phone to make a purchase.

Consumers show more enthusiasm for mobile commerce

The study also shows that mobile consumers are eagerly anticipating the arrival of comprehensive tools that will make mobile commerce easier for them. Some 44% of consumers say they would like to see advanced mobile wallet platforms for their mobile devices. These platforms are developed to help consumers participate in mobile commerce more easily by providing them with a way to efficiently and securely store their financial information.