Mobile strategy helps Alibaba set a new Singles Day sales record
Alibaba has set a new Singles Day sales record this year. Singles Day is China’s equivalent to Black Friday in the United States and is one of the country’s largest shopping days of the year. Alibaba, and other retail organizations, often set their sights on Singles Day as a chance to recover from any financial losses they may have seen over the past few quarters. This year, Singles Day has proven to be a major success for most retailers, especially those focusing on mobile commerce.
$9.3 billion in sales were made by Alibaba on Singles Day this year
According to Alibaba, more than $9.3 billion in sales were made during Singles Day, a significant increase over the $5.8 billion the company saw during the same day last year. This monumental success has driven Alibaba’s shares on the New York Stock Exchange higher as investors see more hope in the company’s retail endeavors. Much of the company’s success has been because of its focus on the mobile commerce space, which has become quite active throughout China.
Mobile commerce is thriving in China
China is home to the world’s largest mobile Internet user base, with more than 527 million active users. These people are quite interested in shopping online from a mobile device and regularly use a wide range of mobile payment applications on a daily basis. During the second quarter of this year, some $27 billion in mobile spending was reported in China, accounting for 26% of all online transactions made in the country. By 2016, mobile shopping is expected to account for more than 50% of all online transactions made in China.
Alibaba to continue focusing on the mobile space
Alibaba’s strategy to engage mobile consumers has proven to be particularly successful. The company has been investing more heavily in the mobile space in recent years, hoping to capitalize on the popularity of mobile commerce. Alibaba plans to continue focusing on the mobile space for the foreseeable future, hoping to establish yet more dominance among mobile consumers.
Europe is now the leader in mobile commerce, followed by Asia and North America
Europe is now leading the world in mobile payments, according to a new study from Adyen, a global payment technology company. Consumers throughout Europe have been showing aggressive interest in mobile commerce, and the growth of mobile shopping has been supported by European retailers and the growing popularity of mobile technology. Mobile devices are beginning to play a significant role in the lives of people everywhere, and this is leading to a growing demand for mobile-centric commerce.
Study shows that Europe accounted for 24% of all mobile payments made throughout the world in the third quarter of this year
According to the study from Adyen, 23% of all online payments during the third quarter of this year came from mobile devices. During the second quarter of 2014, 21% of all online payments came from mobile devices. Europe accounted for 24% of all mobile payments made during the fourth quarter, with Asia accounting for 17%. North America has been very slow to embrace mobile commerce in any significant way, but that may change in the future.
The future sustainability of businesses may be tied to mobile technology
Adyen suggests that the future of business lies in the mobile sector. Companies that can adapt to local mobile payment preferences of consumers are likely to find a significant degree of success. Consumers are looking for relatively simple, but robust payment solutions that they can use on their smartphones and tablets. They are also looking for businesses that can satisfy their mobile interests. As such, companies that manage to capture the mobile audience stand to see significant growth.
Security remains a serious problem for the mobile commerce sector and the businesses therein
There are still many challenges that the mobile commerce world faces, one of the most serious of which is security. Many mobile payment platforms lack the security needed to keep consumer information safe. This problem is compounded by the fact that many retailers are somewhat unfamiliar with mobile technology and the risks that exist in the digital world.
