Tag: m-commerce

Reaching consumers once they’ve walked into your shop.

If you’re expecting your mobile commerce strategy to simply be a version of your e-commerce efforts, only suited to a smaller screen, then you will be missing the majority of the opportunities that are available to you through this channel.

The smaller screen is just the jumping off point, since it makes sure that your content is accessible.

In the United States – which isn’t even the mobile commerce world leader – there is double digit growth being seen in this sphere. It has been predicted that by 2015, the marketplace will be worth almost $300 billion. So it is important for retailers and merchants of all kind to make sure that they are making proper use of this channel, and aren’t missing out on tremendous opportunities.

The key to m-commerce is the fact that it is (obviously) mobile. Instead of reaching consumers while they are sitting at home or at work, retailers can connect with them no matter where they are or when it is. This includes when consumers are actually within the physical store locations. Why is this important? Most retailers would think that once they’ve drawn the consumers into their stores, then their marketing has worked. Job done.

However, if you stop there, then you’ve stopped showing your customers why they should choose you over the competition.

Why does that matter when they’re already in your store? Because a consumer with a smartphone can wander into your shop, look over a product, and then use the mobile device to comparison shop with other merchants, you need to take actions to make your offers more attractive than what can be found online.

In-store mobile commerce has, therefore, become a vital part of an overall marketing strategy. What it means is that advertising and promoting over the mobile channel doesn’t necessarily need to be done with the online shopper in mind. Instead, it fuses brick and mortar retail with the virtual world, so that technology can help to make sure the shopper in the store actually makes a purchase.

There are a full range of techniques already being used for in store mobile marketing, ranging from location based offers that send discounts, coupons, and other promotions to consumers that have entered the shop, to the use of QR codes, simplified mobile payment transactions, self checkouts, and other features for savings and convenience.

 Mobile commerce to have significant impact on UK retail industry

The Economist Intelligence Unit, an independent research and analysis firm operating in the European Union, has released a new report concerning the impact of e-commerce, mobile commerce, and social commerce on the retail industry in the United Kingdom. UK retailers have been seeing an increase in demand from consumers interested in using their mobile devices as payment platforms. In response, many retailers have begun adopting mobile commerce systems, such as NFC terminals, as well as bolstering their online presence to be more accommodating of social commerce and e-commerce.

New commerce to make up a third of all retail sales in the UK in 10 years

The report predicts that sales from e-commerce, m-commerce, and s-commerce are to make up more than a third of all sales in the UK within the next ten years. These types of commerce account for roughly 10% of all retail sales made in the UK currently. Social commerce is one of the most rapidly growing forms of commerce emerging in the UK. This form of concept refers to sales made through social media sites, like Facebook and Google+. E-commerce has always been a popular option for consumers that prefer not to visit physical stores, but mobile commerce may become the leading form of commerce amongst all consumers.

Mobile commerce may reign supreme

The report shows that mobile commerce is growing in popularity and may soon become the primary shopping medium amongst consumers by 2022. The report suggests that consumers are more likely to make impulsive purchases when using mobile commerce platforms, thus giving retailers even more incentive to become more accommodating to these consumers. Given that many of these consumers are constantly connected to social media sites, both mobile commerce and social commerce initiative may stand to net major gains for retailers in the UK.

More consumers expected to participate in new forms of commerce in coming years

Online sales channels continue to outperform traditional channels. The Economist Intelligence Unit predicts that consumers will favor online channels throughout the next ten years, especially as more retailers adopt mobile commerce services and the availability of NFC-enabled mobile devices grows. Several companies are experimenting with alternatives to NFC technology that may broaden the horizon of mobile commerce, as well. These efforts are expected to bring more consumers into the fold and add further momentum to new forms of commerce in UK and around the world.