Tag: mobile payments

Mobile Supplements

Is M-Commerce the future of mobile interaction – Part Three

Growth of Mobile Commerce – Retailers

Also, many companies have yet to be convinced that they need a mobile strategy; a recent 2ergo survey found that over 70% of companies surveyed outside our customer base were yet to be convinced they needed a mobile strategy for their business.

This is of particular significance to well-established bricks and mortar stores, especially those who will be seeing a good number of smartphone-using shoppers coming through their doors over the next couple of months.

Now is the time to be embracing mobile and all the things it can do for the retailer, from appointment confirmation, check in, offers, footfall drivers etc…

Within the 30% or so that do have a mobile strategy, the retailers are benefiting from their use of mobile rendered websites, strong product or service placement within mobile sectors and strong offers available via mobile and they are increasing sales as a result.

More than one third of smartphone users made a purchase through their mobile device in the last 6 months and nearly two out of three shoppers use at least one device to research and purchase while shopping, and 28% use two devices at a time.

Within the 10% of mobile users who have made a mobile purchase in the last six months, 84% look for local retailer information, 82% find online retailers, 73% find a specific manufacturer or product website, 71% learn about a product or service after seeing an ad, 68% find the best price for a product or service, and 63% search before purchasing in a store or from a catalogue using their mobile device.

Combine these kinds of statistics from the mCommerce ready audience with 56% of consumers believing mobile can make the shopping experience more enjoyable and you can understand why many marketers believe that there is a consumer payments revolution on the way with retail at the forefront of it.

Both sources mentioned here look into the numbers of people who are still hesitant when it comes to mobile commerce. The Intersperience research highlights that 37% of UK adults are not keen to buy via mobile, compared to just 11% who remain hesitant to purchase via PC.

According to Google’s stats, 69% of smartphone users who do not buy via mobile simply prefer to use their PC or laptop for shopping. Other concerns included ‘doesn’t feel secure’ (34%) and complexity (9%).

It’s quite clear that paying over your PC didn’t take off immediately in the late 90’s but the advent of payment providers like Paypal and the emergence of the banking sector into online payments has made paying over your PC an everyday “chore” almost, with people more than happy to pay over the internet.

Whilst mobile is going through that indifference and security concerns phase now, it’s clear than in the future as more and more banks and financial players like PayPal come into the market with industry leading products and services and as more security concerns are addressed that the future of payments via mobile as a “chore” is very, very near.

In the final post in the M-Commerce series we will look at future predictions in this sector.

Thanks

themobileexpert

Mobile Supplements

Is M-Commerce the future of Mobile Interaction? – Part Two

Growth of Mobile Commerce ….. the Consumer

As devices become smarter and the user experience becomes faster, easier and more secure, so UK shoppers are beginning to make more purchases via their mobile devices.

Data published in October 2012 from a new tracking initiative by IMRG highlights the growth of the mobile commerce sector in the UK.

During Q2 2011 visits to e-commerce sites from mobile devices accounted for 7% of overall traffic, up from an average of 1.4% in Q1 2010.

The research also shows that UK mobile shoppers are buying more and are now making 3.3% of e-commerce purchases from mobile devices. This is an increase from 0.4% at the beginning of 2010.

UK mobile owners are making more purchases from their devices and are also using them when visiting offline stores.

According to Intersperience, 8% of UK adults buy through their mobile phones, while 21% intend to in the future. Comparatively, a smaller percentage (7%) of under-18s currently make purchases via mobile but 33% plan to in the future.

Mobile is also clearly playing a big part on purchases made in shops. Our Mobile Planet data sees 24% of UK smartphone owners taking their phones shopping with them in order to compare prices and inform themselves about products.

Additionally, mobile devices are on the cusp of becoming more than an in-store information source, with the release of apps and features allowing users to make payments through their devices instead of using cash or card.

Despite 24% of UK adults being in agreement that mobile phones are more likely to be stolen than wallets, Intersperience data shows that 17% would be keen to use their devices for payments. Again, youngsters are more eager, with 25% of under-18s keen to replace their wallets with mobiles at the cash register.

From a marketing point of view however, there is still a significant amount of catch-up to be done for mobile commerce to become as trusted as PC-based mobile commerce.

Look out for part three of this 3 part post when we look at the role the retailer plays in the growth of m-commerce.

Thanks

themobileexpert