Tag: mobile shopping

Mobile shopping has been growing quickly in China over the past year

Mobile shopping in China saw tremendous growth in 2014, according to a study from iResearch. The firm’s study highlights the growth of mobile commerce throughout the country, noting that many consumers have begun to shop online and in physical stores with their mobile devices. This trend is not unique to China, of course, as mobile commerce has been seeing healthy growth throughout Asia. The region is considered one of the fastest growing mobile commerce markets in the world.

Mobile spending triples in China throughout 2014, reaching new heights and encouraging retailers

According to the study from iResearch, mobile spending tripled in 2014 over what it had been in 2013. More people opted to shop with their mobile devices and they were more likely to spend larger sums of money while doing so. Mobile commerce saw 239% growth over the past year, while conventional e-commerce experienced on 49% growth. Mobile commerce accounted for 33% of all online sales made in China in 2014, a significant increase from the 14% that was recorded in 2013.

Demand for mobile commerce services is on the rise among interested consumers

China’s mobile commerce scene is dominated by a few large companies, such as Alibaba, but there are many services that are available to mobile consumers. These services make it possible to shop for and purchase products in physical stores with a mobile device. Smartphone penetration is on the rise throughout the country, which is leading to a greater demand for mobile payment services. This demand is expected to continue growing as more consumers become comfortable with mobile commerce.

Expansion of mobile commerce will continue, powered by retailer adoption and the demands coming from consumers

Mobile commerce is likely to continue expanding throughout China, powered by the initiatives that many retailers and Chinese banks are taking to engage mobile consumers. Conventional e-commerce still dominates the retail space, but mobile is beginning to play a more important role therein. Retailers are beginning to understand that if they do not engage mobile consumers, they may be missing out on promising opportunities.

A report from PricewaterhouseCoopers (PwC) has pointed the finger at smartphones for U.K. retail reduction.

PricewaterhouseCoopers (PwC) has released the results of its research, which was based on information compiled by The Local Data Company, which revealed that the United Kingdom suffered a net loss of 987 brick and mortar retail stores, last year, and it has placed the blame on factors such as mobile technology.

This rate of store closures represented an average of 16 per day, across the country, which is a massive increase.

The year before, the figure of store closures in the U.K. was three times lower, when a total of 371 closures had been recorded. On the whole, in 2014, there were 5,839 stores that closed their doors forever, while there were 4,852 new store openings. Among the stores that closed, two out of every three were in the clothing and footwear categories. Mobile technology stores, money services, and bank branches also faced serious difficulties. That said, some types of stores broke away from that trend and managed to thrive, including discount shops such as Poundland, coffee shops, charity shops, smoke shops/e-cigarettes, and betting shops.

Mobile technology and the internet were said to have played an important role in these trends.

According to The Local Data Company director, Matthey Hopkinson, “Our town centers continue to evolve away from traditional shops and services to leisure – food, beverage and entertainment.” He also added that “This is reflected by American and British restaurants featuring in the top 10 risers along with the impact of click and collect services showing a 20% growth in 2014.”

Mike Jervis, a retail specialist at PwC, explained that mobile tech and the internet as a whole played an important part in the retail shop downturns, speeding up the rate of store closures as consumer behavior continues to undergo an evolution through the use of these types of tech.

Mark Hudson, PwC retail leader, explained that by watching the “work and play” behaviors of “digital natives”, it will be possible to better predict the future. This means that it will be important to keep a particular eye on those who have grown up with mobile technology, online shopping, and broadly available broadband, as they will have a considerably different relationship with brick and mortar stores than any of the generations that have come previous to them.