Tag: mobile shopping

Mobile commerce is growing slower than expected

| May 13, 2015

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

Mobile Commerce - Slow GrowingUsing 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.

Wearable technology may be advancing mobile payments

| May 12, 2015

Retailers may need to change their strategies to engage consumers more effectively

Apple has released its new wearable device, called the Watch, and many consumers have shown interest in the product. Though Apple Watch has received criticism for its expensive nature, many consumers have found the device useful, especially because it can be used to make mobile payments. While consumers may be showing favor in Watch, retailers may have to revise their marketing strategies in order to better engage mobile consumers with this device.

Micro-moments are becoming more important to retailers

Julie Ask of Forrester Research suggests that retailers need to focus on “micro-moments” when it comes to Apple Watch. The micro-moments are times when consumers interact with mobile devices. These interactions tend to be short-lived, as consumers often check their devices to see social media updates and access their email accounts. Advertisements could be quite effective if  they are situated in these micro-moments, as consumers will be exposed to these ads when they check their mobile devices, including wearable devices.

Consumers are showing greater interest in mobile payments

Mobile Payments and Wearable TechnologyConsumers are becoming increasingly interested in mobile payments, which is a trend that is making micro-moments more important. If retailers can effectively leverage these moments to their advantage, they may establish a much stronger position in the mobile market. They will have to change their marketing strategies, however, if they want to engage mobile consumers, especially those with wearable devices. These consumers tend to be somewhat resistant to traditional marketing endeavors, but their attention is often capture by mobile-centric strategies that take note of the importance of mobile technology.

Wearable technology could drive further growth in the mobile payments space

According to a recent report from Forrester Research, 40% of online consumers are tired of pulling out their smartphones to make a purchase. As such, wearable devices are becoming more popular. These devices act in much the same way that conventional smartphones do and have the ability to make mobile payments. Consumers are aligning themselves with wearable technology quite readily, which could lead to significant growth in the wearable sector in the coming years.