Tag: retail mobile commerce

Mobile commerce is growing slower than expected

| May 13, 2015

Mobile payments are lagging behind in physical stores

Mobile commerce is gaining momentum among consumers throughout the world, but it has yet to become a major force in the retail industry. Retailers have been showing more interest in engaging mobile consumers, largely due to the fact that mobile shopping is becoming so popular with consumers. Mobile commerce may not be as prominent in the retail space as is believed, however, according to a new report from Javelin Strategy & Research.

Only 1% of payments in physical retail stores are made from smartphones

The report shows that 9% of online transactions in the retail space are being made from smartphones. Mobile payments being made in physical stores, however, are quite low by comparison. The report notes that mobile payments with smartphones in physical stores account for only 1% of all transactions being made. When it comes to those making mobile payments in physical stores, those with iOS devices account for the most money spent and make mobile purchases more often.

Mobile payments may become more common in the future

Mobile Commerce - Slow GrowingUsing a mobile device to make purchases in physical stores will likely become more common in the coming years. Retailers have been slow to embrace the concept of mobile commerce in their traditional stores, but this attitude is beginning to change due to the growing number of people that rely on their mobile devices when doing their shopping. The report from Javelin Strategy & Research predicts that mobile payments in physical stores will reach $54 billion by 2019, accounting for a significant portion of all transactions made in these stores.

Retailers are becoming more mobil-centric

Mobile commerce is considered to be quite convenient by consumers. Many of these people prefer to shop online, using their smartphones to purchase products from e-commerce sites. Retailers are beginning to adapt to the advent of mobile commerce by adopting mobile-centric practices and investing in mobile services that allow them to cater to the needs of mobile consumers that are interested in paying fro products with their smartphones.

Millennials are showing more favor for mobile commerce

| May 4, 2015

The retail space may be outgrowing cashiers and retail sales clerks

In the United States, some of the most common jobs in the country are retail sales clerks and cashiers, according to information from the U.S. Bureau of Labor Statistics. When it comes to cashiers, some 3.4 million people in the country hold this position. The retail world is changing, however, and cashiers may no longer be needed. This is due to the advent of mobile commerce and an increasing demand for in-store mobile payment support.

Survey shows that Millennials have little interest in interacting with human cashiers

A recent survey from Relate, a shopping data aggregator, shows that Millennials, those who reached adulthood around the year 2000, would prefer not to interact with human cashiers in any retail environment. Millennials have become well known for their fascination and, at times, intense reliance on mobile technology. This demographic has become quite comfortable with the concept of mobile commerce and they have begun using their mobile devices to shop for and purchase products more than any other demographic.

Many people are using self-service kiosks to make purchases at physical stores

Mobile Commerce- MillennialsThe survey notes that 20% of Millennials do not want to interact with human cashiers. In general, 85% of consumers have said that they have used an in-store self-service kiosk when purchasing products. Among Millennials, 91% have used such kiosks. The survey suggests that a growing number of consumers are becoming more likely to purchase products with their mobile devices, claiming that doing so is more convenient.

Retailers have been slow to embrace mobile payments, but that may be changing quickly as demand for in-store support rises

Though the survey shows that consumers are becoming less interested in interacting with human cashiers, the survey found that a significantly larger proportion of respondents simply want in-store mobile payment support. Retailers have become somewhat interested in the idea of mobile commerce, but relatively few of these companies have shown support for in-store mobile payments. The demand for this support is growing, however, and may soon become too loud for retailers to simply ignore.