Tag: mobile payments

Mobile commerce may be the future of India’s retail industry

| April 22, 2013

Retailers seeing a marked rise in mobile commerce demand

E-commerce has grown to become a formidable force in India. The country’s retail sector has been working to appeal to consumers in a more dynamic way, now that many of these consumers have access to smartphones and tablets. These devices are beginning to change the way consumers shop online, making India’s traditional e-commerce initiatives somewhat outdated an unintuitive. As more consumers become mobile, retailers are beginning to consider whether the time is right to embrace mobile commerce more seriously.

Mobile technology expanding rapidly in IndiaIndia Mobile Commerce

The proliferation of smartphones and tablets is causing retailers to examine how to better engage consumers that are tethered to mobile devices. The best answer may be to adopt better mobile commerce services and ensure that e-commerce platforms are more accommodating to mobile devices. Currently, much the retailer industry’s online presence is built around those that shop online using their PCs. This means that e-commerce platforms are, generally, not optimized to be used for mobile devices, making it difficult for mobile consumers to shop and purchase products online.

Mobile commerce provides strong examples in other markets

Mobile commerce has already seen strong growth in other countries, such as  the U.S. and the United Kingdom. In these countries, mobile commerce has helped several retailers find an impressive amount of success. According to a recent report from BI Intelligence, a leading market research firm, approximately 29% of mobile users in the U.S. have made a purchase through their smartphone or tablet. Many of these purchases were reported in the retail sector.

Retailers beginning to see a need to adapt to mobile consumers

Myntra, a leading seller of fashion and lifestyle products in India, notes that it has seen a dramatic rise in the number of people interested in participating in mobile commerce. This is partly due to the mass deployment of new mobile devices throughout the country. Consumers may be interested in mobile commerce due to its relatively new nature and the novelty that provides, but Myntra notes that demand is beginning to grow to the point where mobile commerce can no longer be ignored.

Report highlights consumer preference for mobile commerce

| April 21, 2013

mobile commerce consumer retailMobile commerce becoming a major aspect of retail

Accenture, a leading market research firm, has released a new study concerning the preferences consumers have in the realm of online shopping. The Seamless Retail Study highlights these preferences, showing that many consumers favor their mobile devices to shop for and purchase products online. Mobile commerce is growing increasingly common, especially in the retail industry, due to the convenience it offers to consumers. Many consider using their smartphones and tablets to shop online is simple more efficient than other forms of shopping.

Survey shows consumers are likely to use mobile devices to shop

The study includes a survey, which notes that 88% of consumers claimed to have participated in “webrooming,” a practice similar to showrooming wherein consumers browse for products on the Internet before purchasing products in a physical store. The survey also shows that approximately 43% of consumers have plans to shop online more frequently in the future, with 23% of these consumers noting that they plan to use their mobile devices to shop.

Mobile commerce offers more convenience to shoppers

The study suggests that consumers are becoming increasingly interested in a seamless shopping experience, wherein they can find and purchase the products they are interested online and pick up those products as soon as possible. Mobile commerce is somewhat accommodating of this trend, as it enables consumers to make a purchase from their mobile device and, in some cases, retrieve their purchased products from a physical store. Amazon has recently begun offering such a service, which has been well received by consumers interested in mobile commerce.

Retailers may have to work harder to engage a changing consumer base

The study claims that retailers may need to combine their store, online, and mobile shopping channels in order to appeal to a changing consumer base. More people are getting their hands of high-end smartphones and tablets, making them more mobile-centric. As such, retailers that do not appeal to consumers on a mobile level could stand to lose significant ground with these people as mobile commerce becomes more prolific.