Tag: mcommerce report

Report highlights progress of US m-commerce market

New report shows that the demand for m-commerce platforms is growing quickly

Infiniti Research has released a new report concerning the state of the U.S. mobile commerce market. The report indicates that the U.S. has become one of the most active markets in the world when it comes to mobile commerce and the market is saturated with demand from consumers for new services and better mobile-centric platforms. Several businesses in the U.S. are beginning to take the mobile space more seriously and telecommunications companies are working on ways to make mobile commerce as a whole more accessible.Mobile Report - U.S. M-Commerce Market

Handful of companies establish leadership in the US mobile market

According to the report, there are only a handful of organizations that can be considered dominant in the mobile commerce market. These organizations are Isis, PayPal, Visa, and Citibank. Square is also considered to be a leader in the North American market and the company is often credited with helping make mobile commerce more inclusive of iOS users. PayPal has also helped make mobile commerce more accessible to iOS users as these people do not typically have access to NFC technology, which is used for many mobile commerce platforms.

Mobile coupons succeed in boosting mobile sales for retailers

The report shows that retailers are beginning to engage with mobile consumers more aggressively than they have in the past. Many retailers are introducing mobile coupons as a way to encourage mobile engagement. These coupons are used to boost mobile sales and have been quite successful in this endeavor as the number of people that use mobile wallet applications continues to grow throughout the country.

Security continues to be one of the most serious problems there is in the mobile commerce space

The report notes that one of the major issues that consumers have with mobile commerce has to do with security. Many mobile commerce platforms have been targeted by hackers and malicious groups that are seeking to exploit a person’s financial information. Even businesses that are involving themselves in the mobile commerce space have found it difficult to provide consumers with a secure experience.

Mcommerce is greatly driven by small and medium sized businesses

Large companies typically lead the way with tech, but mobile commerce platforms are being pushed by SMBs.

Corporations and massive enterprises have traditionally been the leaders when it comes to being on the very cutting edge of technology, but when it comes to mcommerce, a major push is being supported by small and medium sized businesses that are not held back by the solid infrastructures and red tape restricting their larger counterparts.

This flexibility and agility of SMBs makes it possible for them to test and evolve with mobile commerce.

SMBs often find themselves in a position in which they can move quickly, making it possible for them to try out various forms of tech, such as mcommerce, and to keep up with the latest developments over these channels. Because of this, businesses in this size group are starting to play an important role in driving innovation of shopping and payments through the use of smartphones.

Studies are showing that a large percentage of SMBs are using mcommerce and mobile payments.

Mcommerce BusinessRecent research by BIA/Kelsey determined that approximately 40 percent of SMBs are using mobile point of sale (mPOS) technology. These mobile devices are used in store to help consumers to make purchases outside of a traditional checkout counter. It is predicted that this number will only rise as SMBs spend more money on mobility over the next half decade.

Using smartphones and tablets to assist consumers with shopping and to be able to accept both orders and payments can help to simplify the operation of the business as a whole, particularly for small retailers and mom and pop shops. A growing number of analysts are predicting that throughout 2014, there will be a broadening trend of embracing this tech in many forms.

The more mcommerce technology is used, the more rapidly mobile commerce platforms will evolve as innovations are developed to improve convenience, efficiency, and cost effectiveness. This will help in areas including inventory, paperless inventory, online banking, and m-payments that give these entrepreneurs new and innovative ways to use digital means for transacting business. Overall, this is an appealing playing field for the SMB community.