Tag: social media

Millenials are leading the growth of mobile commerce

| April 3, 2015

Report shows that younger consumers are influencing the mobile commerce space

A new report from Global Web Index shows that young consumers are powering the growth of mobile commerce. Younger demographics are more likely to participate in mobile shopping because they are more comfortable with smartphones, tablets, and other devices. They appear to be less concerned with security issues because they are more acclimated to the risks that exist in the digital world. These consumers are leading the way when it comes to shopping online from a mobile device.

More people are opting to shop with their mobile devices than ever before

According to the report from Global Web Index, 40% of consumers between the ages of 16 and 24 are using their mobile devices to shop online every month. By comparison, 36% of all adults worldwide are doing the same. Approximately 26% of all Internet users are using mobile shopping applications to shop online, with 70% of these consumers successfully making a purchase using such apps. The most influencial demographic in the mobile commerce space is currently Millenials, who have taken a strong interest in mobile technology in general.

Asia Pacific region is the world’s fastest growing mobile commerce market

Teens - Mobile Commerce In North America, 20% of Millenials made a mobile commerce purchase in the past month, with 21% of this demographic doing so in Europe. The Asia Pacific region is home to the largest mobile commerce market where Millenials are active. The report shows that 46% of Millenials in this region have made a mobile commerce purchase in the past month. The report notes that nearly half of China’s Internet users shop online using a mobile device of some kind every month, though India is seeing the greatest rise in mobile shoppers.

Social media continues to have an impact on the mobile shopping space

Social media is playing a major role in the rise of mobile commerce throughout the world. More social media companies are taking steps to embrace mobile payments, introducing new features that allow consumers to make purchases from their platforms. These companies are partnering with online merchants in order to effectively engage mobile consumers that have become enthralled with the notion of mobile shopping.

Mobile payments firm launches new service for businesses

| March 27, 2015

Square has launched a new service that aims to help businesses connect with mobile consumers

Square, a prominent mobile payments firm operating in North America, has announced the launch of a new service, called Square Cash, for businesses in the United States. Square had been the most prominent mobile payments firm in the country for a time before the market became crowded with competitors. As large companies like PayPal and Apple have become more involved in the mobile commerce space, Square has had to find new ways to compete and attract the support and attention of mobile consumers.

Square Cash could be a boon for businesses

Square Cash is designed to deposit payments directly into a business’ bank account, rather than placing these funds into a holding account. The company is also offering what it believes to be a competitive rate for transactions, with this rate being 1.5%. This is lower than the rate offered by some of Square’s competitors, which may make it more attractive to businesses that are becoming more interested in mobile payments.

Square launches $Cashtags in order to inform consumers when they can make a mobile payment at a business

Mobile Payments- Square Square has also launched a new initiative, called $Cashtags, which involves notifying consumers that they are able to use mobile payments at stores that are supporting Square Pay. These $Cashtags are meant to work in a way similar to hashtags on Twitter, providing businesses with a way to inform consumers that they can make payments using Square Cash. These tags can be personalized, which would offer consumers information about products that they may be interested in as well.

Square Cash may appeal to businesses that want to connect with mobile consumers

Mobile payments have become quite popular among consumers, but relatively few businesses support this new form of commerce. This has to do with concerns regarding security, but companies like Square have been making strides in improving the safety of mobile commerce as a whole. With its new service, Square may be able to find renewed support among businesses that are investing in engaging mobile consumers.