Tag: m-commerce

Mobile payments are lagging behind in physical stores

Mobile commerce is gaining momentum among consumers throughout the world, but it has yet to become a major force in the retail industry. Retailers have been showing more interest in engaging mobile consumers, largely due to the fact that mobile shopping is becoming so popular with consumers. Mobile commerce may not be as prominent in the retail space as is believed, however, according to a new report from Javelin Strategy & Research.

Only 1% of payments in physical retail stores are made from smartphones

The report shows that 9% of online transactions in the retail space are being made from smartphones. Mobile payments being made in physical stores, however, are quite low by comparison. The report notes that mobile payments with smartphones in physical stores account for only 1% of all transactions being made. When it comes to those making mobile payments in physical stores, those with iOS devices account for the most money spent and make mobile purchases more often.

Mobile payments may become more common in the future

Using a mobile device to make purchases in physical stores will likely become more common in the coming years. Retailers have been slow to embrace the concept of mobile commerce in their traditional stores, but this attitude is beginning to change due to the growing number of people that rely on their mobile devices when doing their shopping. The report from Javelin Strategy & Research predicts that mobile payments in physical stores will reach $54 billion by 2019, accounting for a significant portion of all transactions made in these stores.

Retailers are becoming more mobil-centric

Mobile commerce is considered to be quite convenient by consumers. Many of these people prefer to shop online, using their smartphones to purchase products from e-commerce sites. Retailers are beginning to adapt to the advent of mobile commerce by adopting mobile-centric practices and investing in mobile services that allow them to cater to the needs of mobile consumers that are interested in paying fro products with their smartphones.

By the end of the year, the m-commerce company intends to transition its operations entirely to smartphones and tablets.

It shouldn’t come as much of a shock to many people that Flipkart has had an exclusively mobile strategy up their sleeve for some time now, but what has come as a surprise is that it looks like these intentions are already underway.

The company has started to prepare to move entirely over to the mobile commerce side, stepping off the standard web.

A new report has been making its rounds of the media and has indicated that Flipkart will be constructing an entirely mobile strategy based on a new application platform. In this way, they intend to provide consumers with a shopping experience that more closely mirrors that of the real world. What has not yet been revealed is exactly how the m-commerce company intends to actually accomplish that goal. That said, it has been shifting a considerable amount of its engineering and infrastructure resources over to the pursuit of that goal.

Their mobile strategy appears to be a novel one and is one that will turn its current app entirely on its head.

The mobile apps from Flipkart are already known for providing an extremely user and consumer friendly experience. That said, the company appears to feel that it can improve that experience even further by adding a more realistic approach to mobile commerce.

Flipkart’s chief product officer, Punit Soni, explained that the company feels that the current mcommerce apps are highly influenced by the PC environment. For that reason, in order to enhance shopping in a way that is more true to real life, the applications need to be completely overhauled. The purpose is to create an application that has been designed for mobile from the ground up, without falling back onto established concepts from the desktop ecosystem.

The new mobile strategy will also rely quite heavily on social concepts, as it will allow people to be able to browse for products and obtain recommendations from friends. In fact, it may even allow several people to shop “together” online through the upcoming m-commerce app platform.