Tag: retail mobile commerce

Millennials may soon command the mobile commerce market

Millennials are a very powerful demographic when it comes to mobile shopping

Millennials have become a very powerful demographic in the mobile commerce space, but connecting with these consumers have proven quite difficult for many companies. For years, companies have focused on older generations because they were relatively easier to connect with. The advent of mobile payments systems has caused a shift in priorities for retailers, however, and these companies are now beginning to seek out ways to better engage millennials, most of whom grew up steeped in mobile technology.

This demographic accounts for $600 million in spending and have a strong interest in mobile commerce

Millennials account for an estimated $600 million in spending, which makes this demographic quite attractive to retailers. Many of these consumers have shown that they are interested in mobile commerce and shopping online. These see this as more convenient than conventional forms of shopping and are more willing to use their smartphones to make purchases. This is because many millennials have never lived in a world separated from the Internet, and thus have become heavily reliant on mobile technology and being able to connect to the digital world on a whim.

Retailers will have to find new and dynamic ways to connect with mobile consumers

Millennials and mobile commerceAs retailers become more invested in mobile commerce, they will have to find ways to engage millennials specifically. The problem, however, is that this demographic has shown itself to be somewhat fickle, unlikely to support a singular payment or retail platform for any significant length of time. Loyalty programs may ensure consumer dedication for a time, but businesses will have to find other ways to effectively engage consumers in order to secure their loyalty.

Customer experience has become a very important thing for consumers

The mobile payments space is likely to continue to grow well into the future, surpassing the e-commerce market, in terms of growth, in the coming years. As the sector grows, new payment platforms are likely to feature better customer experiences, tapping into the demands coming from consumers. Better customer experiences are in high demand among millennials, which is forcing some companies to transition from the mobile web to applications, or vice versa, in order to making online shopping more convenient.

Mobile commerce is booming among Millennials

Survey shows that more people are using their devices to shop online and off

A new survey from GfK and Facebook IQ shows that consumers are beginning to favor their mobile devices when it comes to shopping online. Many people are beginning to rely on their smartphones in their daily lives, and the idea of mobile shopping is becoming very appealing to them. The survey suggests that mobile commerce will see strong growth in the coming years, especially among Millennials who have become very comfortable with using their smartphones to get their shopping done.

Millennials are proving to be the demographic most comfortable with the concept of mobile shopping

According to the survey from GfK and Facebook IQ, approximately 45% of all shopping done both online and off involve a mobile device in some way. Some 57% of Millennials use their devices while shopping, with a growing number of these people opting to pay for products with their smartphones rather than traditional currency. Consumers enjoy a seamless experience, where they can move from one payment channel to the next without much trouble.

Omni-channel shoppers use their devices to research and purchase products online and in physical stores

Mobile Commerce & MillenialsThese so called “omni-channel” shoppers believe that the Internet is a vital part of the shopping experience. Mobile commerce does not only involve purchasing products with a smartphone, as consumers also use their devices to research products that they are interested in. Indeed, the majority of consumers that research products with their devices also made purchases. Approximately 60% of omni-channel shoppers noted that they will likely use their mobile devices to make purchases more frequently this year.

Retailers becoming more mobile-centric are finding it easier to connect with consumers

Many retailers had feared that the rise of mobile commerce would lead to a major decrease in sales. For merchants without an online presence, this may be true, but retailers focusing on the mobile sector are finding it easier to connect with consumers. These retailers are likely to become more mobile-centric in the coming years, especially as new mobile commerce platforms become available to consumers.