China is becoming an attractive mobile payments market for Apple
Apple is looking to bring its new mobile payments service to China, which has become a very powerful mobile shopping market. The company has officially launched Apple Pay in the United Kingdom, hoping for the country to be the first success in its gradual progression into other countries with its mobile payments plans. Apple has been considering breaking into the Chinese market since May of this year, when the company began speaking to Alibaba and several Chinese banks.
Apple may soon begin to compete with Alibaba
Earlier this year, it appeared that Apple had intended to partner with Alipay, Alibaba’s mobile payments unit. No official announcement have been made to this effect, however, and Apple may opt to partner directly with banks instead, which may be quite complicated. Alibaba will be a formidable competitor for Apple, however, as the company has already established a very powerful position in the Chinese’s financial sector. Alibaba is one of the largest retailers in the country and has beaten out many others when it comes to mobile payments.
Chinese consumers have a great deal of love for mobile payments
Mobile payments have become quite important for consumers in China. Many consumers have begun to rely on their mobile devices to get their shopping done, as this represents a more convenient way to purchase products. A growing number of retailers in China are beginning to support mobile payments in their physical stores, which is something that many consumers have been demanding for some time.
Competition in China expected to grow in coming years
Competition in China’s mobile payments space is relatively low, largely due to companies like Alibaba establishing a massive market share. This is expected to change in the coming years, however, as more companies begin showing interest in the mobile market. Apple, in particular, believes that China could be a very prominent opportunity for its mobile payments endeavors. Apple has already expressed interest in the Chinese market, but has yet to unveil any specific plans to bring Apple Pay to the country.
Criteo report shows that cross-device is becoming the norm in the retail space
Criteo has released its latest report concerning mobile transactions, called Q3 2015 State of Mobile Commerce Report. The report has found that multiple devices are now in play during the entirety of a consumer’s purchasing process. E-commerce has been quite popular among consumers for many years, but more people are beginning to use their mobile devices to shop online, rather than rely solely on retail websites that they access from their conventional computers.
Approximately 50% of e-commerce transactions now involve more than one device
According to the report, 50% of e-commerce transactions throughout the world now involve more than one device. Cross-device has now become the standard in the e-commerce space, with consumers browsing for products that they are interested in on various platforms, including laptops, tablets, smartphones, and PCs. In order for retailers to find success in the mobile commerce space, they will also have to focus more heavily on cross-device support in order to provide an enjoyable shopping experience that will ensure that consumers will continue to shop on their platforms.
Apps are proving successful for retailers involved in mobile commerce
The report has also found that applications are one of the best ways for retailers to engage consumers. According to the report, brands that prioritize apps as their key revenue driver have seen their profits surge recently. These retailers have found significant success in the mobile commerce space with their applications, as they have served as an effective way to ensure that consumers can shop in a convenient manner. The report has also found that consumers prefer tablets when it comes to mobile shopping, as these devices offer a more enjoyable shopping experience.
Japan and UK lead in mobile commerce growth
The report from Criteo shows that the global mobile commerce market continues to grow. According to the report, mobile commerce now represents 35% of all e-commerce transactions made throughout the world. Japan is a leader in terms of mobile shopping, with the United Kingdom falling into second place. Cross-device purchases represents 49% of the e-commerce transactions in the UK.
