Tag: mobile commerce news

US retailers may be missing out on a major mobile commerce opportunity

| October 23, 2014

Retailers avoiding the mobile space could miss out on a serious revenue opportunity

The holiday season is coming and U.S. retailers could be missing out on one of the greatest mobile shopping opportunities in recent history. A new report from Jumio predicts that retailers could miss out on $8.6 billion in revenue due to outdated mobile checkout solutions. Many retailers have made attempts to engage mobile consumers by offering them new payment solutions that are mobile-centric, but old and inefficient solutions could make it hard for consumers to actually purchase products online and in physical stores.

20% of all online sales made during the fourth quarter of this year may come from mobile devices

According to data from the National Retail Federation, holiday sales for 2014 are expected to reach $616.9 billion, growing 4% over what they had been during the 2013 holiday season. An estimated $105 billion in revenue is expected to come from e-commerce. Another report from IBM suggests that approximately 20% of all online sales made during the fourth quarter will come from a mobile device. Retailers that are not prepared to engage mobile consumers could lose out on a very promising opportunity.

Mobile commerce continues to experience strong growth in the US

Mobile commerce - retailers missing outMobile commerce has become quite popular with consumers. Mobile shopping is often seen as more convenient and while most people continue to favor visiting physical stores, the demand for mobile payment services has been growing rapidly. Many consumers plan to do their holiday shopping online, using their mobile devices to research and discover products they may be interested in. Some will also be looking for ways to make their shopping experience more convenient and avoid crowds at stores. Mobile payment terminals can offer this convenience and may help make a retailer more attractive to consumers.

Outdated commerce systems cause frustration among consumers

The report notes that many people that shop online using a mobile device end up abandoning their purchases. This is due to frustrations with outdated commerce systems that are still being used by retailers. These systems make it difficult for people to complete transactions when they try to purchase products from their smartphones and tablets. Many of these systems are designed to be used on conventional computers and not mobile devices.

Canadian retailers may experience some turbulence due to mobile commerce

| October 21, 2014

Retailers in Canada might have trouble engaging mobile consumers

Canadian retailers may be in for a turbulent holiday season. Price wars and consumers skittish about mobile and e-commerce may put retailers under significant strain this year during the months of November and December. The growing prevalence of mobile commerce, in particular, may make it harder for some retailers to find traction with many people. These retailers have been investing heavily in their mobile infrastructure, but they may not see returns due to the fact that many consumers are not yet comfortable with the idea of shopping online with a mobile device.

WalMart sees troubling trends emerge in the retail market

WalMart has big plans for the holiday season, as usual, but the company notes that it is seeing trends emerge in the global market that could be trouble for the retail industry. According to David Cheesewright, president of WalMart’s international division, growing competition from companies like Amazon may present problems for traditional retailers. Traditional retailers are having price skirmishes with online companies, and consumers are beginning to favor the latter because of the digital services they offer.

Consumers comfortable with mobile shopping are visiting physical stores less frequently

Canada - Mobile CommerceMany people are still uncomfortable about mobile commerce, but those that are not are spending more money when shopping online from a mobile device. Companies like Amazon are taking steps to provide these people with an enjoyable online shopping experience and as consumers become more involved in digital commerce, they are beginning to shop online more than they visit physical stores.

It may be too late for retailers to adopt mobile initiatives to connect with consumers before the holidays

Mobile commerce has proven to be quite powerful during the holiday season. Shopping from a mobile device helps people avoid long lines and they can benefit from having products delivered to their homes relatively quickly. Retailers that have avoided the mobile space, or have a relatively small presence therein, could find it difficult to connect with consumers in a significant way, and it may be too late for them to introduce effective mobile initiatives before the holidays are here.