Tag: mobile commerce platforms

Mobile commerce may have fallen $16 billion short during the 2013 holidays

| January 17, 2014

Mobile spending grows, but retailers miss out on a significant opportunity

The 2013 holiday shopping season has proven to be quite successful for most retailers and brands. A recent report from comScore show that online spending passed $46 billion during the holiday season while another report from the National Retail Federation notes that overall spending reached $601 billion. Mobile spending has grown significantly in 2013, but Jumio, a market research firm, has released a new report that suggests that mobile commerce has missed a major opportunity.

Mobile commerce misses out on $16 billion

According to the report from Jumio, mobile commerce missed out on $16 billion over the 2013 holiday season. Overall, the report shows that mobile spending has grown, but many consumers have reported a lackluster experience with their shopping experience. Mobile shopping platforms from retailers were launched late last year in order to attract the mobile audience, but these platforms were hastily developed and some were crippled by glitches that prevented people from purchasing products.

Abandoned carts may be the culprit behind the loss of revenue

Mobile commerce shoppingThe problem may lie with abandoned shopping carts. Carts are quite common in e-commerce and they serve as a place where products are stored before the checkout process has been finalized. Jumio suggests that consumers running into significant problems on mobile commerce platforms often caused them to abandon their online shopping carts. In many cases, platforms failed to store product information properly, causing consumers to abandon their digital shopping carts and start the process from the beginning.

Poor shopping experience cause consumers to drop mobile commerce

The report shows that some 51% of consumers opted to abandon their digital shopping carts because of security reasons. These people did not believe that a mobile commerce platform would be capable of keeping their financial information safe.  Some 47% abandoned carts because of difficulties regarding mobile payments, while 41% claimed that a mobile commerce platform they were using was simply too difficult to manage. Another 23% of consumers reported that their transactions would not go through during the checkout process, causing them to seek out more convenient forms of shopping.

Mobile payments grow among airlines

| December 26, 2013

Report shows that airlines are becoming more accepting of mobile commerce

Airlines are beginning to embrace mobile commerce, according to a new report from WorldPay, a payment processor focused on aviation. Consumers are becoming more focused on mobile technology and device ownership is growing at a rapid pace. As consumers become more reliant on smartphones and tablets, they are beginning to demand services that accommodate these devices. As such, airlines have been working to provide better services to mobile consumers, including providing them the ability to pay for tickets and other services with their devices.

57% of airlines believe in the potential of mobile payments

The report compiled data provided by 56 global airlines, finding that mobile payments are becoming a key focus for 57% of these organizations. The majority of these airlines believe that mobile payments show the greatest potential of driving up revenue over the next two years compared to other forms of payments. The report shows that mobile payment acceptance has grown by 25% among airlines since the beginning of 2013, up 10% over what it had been in 2012.

Airlines continue to focus on mobile technology

mobile payments airlinesAirlines are not strangers to mobile technology. Many have been leveraging QR codes and other such tools to engage consumers in a more dynamic way. QR codes have also begun to adorn tickets and are often used to provide information concerning a consumer’s itinerary. Mobile payments are a relatively new field for airlines, however, and there are many challenges to consider before companies can find success in the mobile commerce sector.

Security remains a major issue

Mobile commerce has long been plagued by serious security issues. Because mobile devices are becoming popular traffickers of financial information, hackers have begun to show a great deal of interest in the mobile sector. Several mobile commerce platforms have been targeted by hackers seeking to exploit a consumer’s financial information, pressuring companies to take security much more seriously than they had in the past.