Tag: retail industry

Millennials are showing more favor for mobile commerce

| May 4, 2015

The retail space may be outgrowing cashiers and retail sales clerks

In the United States, some of the most common jobs in the country are retail sales clerks and cashiers, according to information from the U.S. Bureau of Labor Statistics. When it comes to cashiers, some 3.4 million people in the country hold this position. The retail world is changing, however, and cashiers may no longer be needed. This is due to the advent of mobile commerce and an increasing demand for in-store mobile payment support.

Survey shows that Millennials have little interest in interacting with human cashiers

A recent survey from Relate, a shopping data aggregator, shows that Millennials, those who reached adulthood around the year 2000, would prefer not to interact with human cashiers in any retail environment. Millennials have become well known for their fascination and, at times, intense reliance on mobile technology. This demographic has become quite comfortable with the concept of mobile commerce and they have begun using their mobile devices to shop for and purchase products more than any other demographic.

Many people are using self-service kiosks to make purchases at physical stores

Mobile Commerce- MillennialsThe survey notes that 20% of Millennials do not want to interact with human cashiers. In general, 85% of consumers have said that they have used an in-store self-service kiosk when purchasing products. Among Millennials, 91% have used such kiosks. The survey suggests that a growing number of consumers are becoming more likely to purchase products with their mobile devices, claiming that doing so is more convenient.

Retailers have been slow to embrace mobile payments, but that may be changing quickly as demand for in-store support rises

Though the survey shows that consumers are becoming less interested in interacting with human cashiers, the survey found that a significantly larger proportion of respondents simply want in-store mobile payment support. Retailers have become somewhat interested in the idea of mobile commerce, but relatively few of these companies have shown support for in-store mobile payments. The demand for this support is growing, however, and may soon become too loud for retailers to simply ignore.

UK mobile commerce market may hit $60 billion by 2024

| April 16, 2015

Consumers are enthralled with mobile commerce, but retailers are not

Consumers in the United Kingdom are beginning to show more interest in mobile commerce. Smartphones are now having significant influence over the way people shop for products, both online and in physical stores. Retailers have begun taking notice of this trend and have made efforts to engage mobile consumers in meaningful ways. A new report from Barclays, compiled with the aid of Conlumino, suggests that mobile spending in the retail sector will reach new heights in the coming years.

Retailers have yet to show significant interest in the mobile sector

According to the report, mobile spending in the retail sector will reach approximately $60 billion in 2024. While mobile spending may be on the rise, a relatively small number of retailers are positioned to take advantage of this trend. The report notes that only 3% of retailers said that they are using mobile-ready point-of-sale systems. Another 70% claimed that they do not have mobile friendly websites or applications in place to engage mobile consumers. As such, these retailers may be missing out on significant opportunities in the mobile commerce space.

Consumers are spending mroe through a mobile device

UK Mobile Commerce MarketThe report notes that consumers throughout the United Kingdom collectively spend $10 billion while shopping on their smartphones and tablets. Those with tablets are twice as likely to make a purchase, while smartphone users are less likely to make a purchase. Tablets tend to offer a more enjoyable shopping experience for consumers, as their larger screens provide better navigation options and these devices have better representation in the retail space.

Many retailers have no plans for the mobile space

Less than one-third of retailers in the UK have clear plans for their investments in the mobile sector. The report shows that 68% of retailers have no plans at all, with only a small number of these companies considering mobile to be a priority. These companies are developing mobile websites that are able to accommodate the needs of consumers with smartphones and tablets. They are also making efforts to embrace mobile commerce, making it possible for consumers to use their devices to pay for products.