We all know that E-Commerce is thriving, but with the advancements of Smart Phones, mobile commerce is quickly entering retailers’ realm as a necessary engagement with customers. Two new studies have come out, in the US and UK respectively, suggesting the implications of this emerging platform commerce.
- 87% of retailers say M-Commerce will have an impact on shopping in the next two years, but only 16% have a mobile strategy in place while nearly 1/3 have zero plans to execute one
- 42 % of retailers say that M-Commerce currently affects customer behavior at brick-and-mortar locations
- 89% of retailers believe M-Commerce will be just as popular as E-Commerce
- 21% of budget is the average amount that retailers expect to spend on a mobile strategy, however 10% already invest 40%-50% of budget into mobile
- 60% of consumers say they use mobile internet while making purchasing decisions in store or while shopping online
- 40% use mobile apps to make shopping decisions
- 74% of retailers say they have a presence on the iPhone, yet 58% of consumers favor shopping and browsing on other devices
- 25% of consumers say that they want to use their phones to make payments in-store instead of cash or credit cards
- 50% of cell owners used their devices to shop online or to assist them while shopping in stores
- There are two types of mobile shoppers:
- “Heavy” users who are attached to their devices and enjoy experimenting with new apps
- “Light” users that see M-Commerce as secondary to E-Commerce and use their mobile device to look up store hours or to locate a store via GPS
- The “Heavy” user represents only 11% of the mobile shopping market meaning that the “Light” users needs are not being met
The report sums up by stressing the importance of not only creating a mobile web site but a mobile app as well. Also saying that retail marketers need to engage and create customer experiences via their mobile device in relation to the day-to-day lives of consumers.
Companies like Brooks Brothers and ASOS have already gone mobile, but the bottom line coming from these reports is: adapt to mobile as medium to create meaningful experiences for consumers or face a loss of customers.
By Paul Fioravanti