Tag: retail industry

Mobile commerce is still in a state of infancy, but it has become a very powerful tool for the retail industry. Despite the success that some retailers have seen in the mobile field, many other companies are not yet convinced that mobile commerce is worthwhile. These companies often consider trends in the mobile space to be little more than passing fancies that will disappear in a matter of time as consumers move on to some other interest. Mobile commerce is much more than a passing trend, however.

Over the past few years, the retail industry has found a great deal of success in engaging mobile consumers. Mobile commerce, for these retailers, is much more than a novelty; it has become a very powerful revenue stream. Barnes & Noble, for instance, has found a great deal of success with its mobile initiatives. In the recent Internet Retailer Mobile 500 report, Barnes & Nobel ranked 41 among some of the world’s leading retailers in terms of mobile commerce success.

The report shows that Barnes & Noble had a 99.35% mobile success rate, which means that the vast majority of mobile commerce activity occurring on the company’s mobile website was successful. The company has reported higher mobile sales, which add to its overall retail sales and boost its revenue considerably.

Another report from the Australian Communication and Media Authority shows that mobile payments have grown by 448% since December 2010. Consumers are becoming more likely to make a purchase from their mobile device, even when visiting a physical store. A handful of retailers are thriving because of this, while those that are unwilling to get involved in the mobile space are missing out on a major opportunity that could have dire implications for their future.

Mobile commerce has proven that it is more than just a trend. It has blossomed into something that consumers want to be a part of and, as such, is here to stay. Retailers that refuse to take advantage of the popularity of mobile commerce may risk obsolescence, as consumers are beginning to favor mobile shopping over more conventional forms of commerce.

Mobile commerce is still in a stage of infancy, but it is growing up fast. This growth is being fed by the growing number of people that are allowing mobile devices to play a major role in their daily lives. These devices offer more convenience and help people bypass some of the things that they consider to be annoying, such as long lines at grocery stores or getting lost during long road trips. As in any sector, trends are emerging within the mobile commerce world that are guiding its continued development.

Optimized Omni-Channel Experiences

People have come to have high expectations when it comes to how they interact with businesses and mobile technology is to blame. Smartphones and tablets have allowed people to experience the world in a new way and this experience is happening at break-neck speeds. People want seamless interaction with the businesses they support, and this means that a company’s ability to optimize this experience across all channels is becoming vital to its continued existence.

Having a website is no longer enough to stay in touch with consumers. These websites have to be optimized for mobile devices, too. A lackluster presence in social media is also a sure way to drive people away, especially those in the mobile crowd. Younger demographics want to receive messages directly to their mobile devices, but these messages cannot be so plentiful that they become an annoyance.

Finding a balance in mobile engagement is key, and that balance must exist through every channel that a business relies on. A growing number of businesses are beginning to take this seriously. They are working on optimizing the experiences they provide to mobile consumers, thereby making themselves more prominent in the mobile world.

In-Store Mobile Devices

Technology has long been a part of the retail sector, but companies are beginning to see the need for the mobile variety. Companies like Apple and Nordstrom have adopted mobile point-of-sale systems  that are designed to allow people to pay for products using nothing more than their smartphones. These systems are becoming more plentiful throughout the retail industry. As they do, people are becoming more eager to participate in mobile commerce.

Mobile App Conversion

Small businesses are particularly interested in the mobile commerce space. Though the mobile world is somewhat crowded by their larger counterparts, small businesses are able to engage a wider demographic by establishing a significant mobile presence. These businesses are offering mobile apps  that allow people to find them more easily and, in some cases, purchase products online.

A year ago, many of these apps did not support in-app links, making them somewhat static and unintuitive. Small businesses have been looking for ways to monetize these apps and have found that allowing the apps themselves to support links, advertisements, and other engagement features has helped consumers spend more money through these apps. This trend is gaining steam throughout several business sectors.

The trends that have emerged in the mobile space are having a major impact on people’s participation in mobile commerce. These trends appear to involve the optimization of the mobile experience. A poor mobile experience leads people away from mobile commerce, while a good experience encourages them to return to mobile commerce again and again. Optimization is ensuring that the mobile space thrives.