Opportunities in Mobile Commerce

Opportunities in Mobile Commerce

According to a recent article in Luxury Daily titled “Changing Landscape of Mobile Commerce and What it Means for Brands,” the outlook for mobile is promising for the future. Drawing from the article, there are several factors that influence the positive outlook for mobile commerce. First, with the continued drop in prices for smartphones, the adoption rate for smartphones will double to 6 billion by 2020. With more smartphones in consumers hands, the greater the opportunity for brands to capitalize on the technology shift. In fact, it is project that “the next billion consumers will find out about your product first on mobile phones. These consumers will use their mobile phone to find out where to buy your product and will use the mobile phone to buy a product.”

Next, with emerging markets moving to 3G from 2G, enhanced speeds will help to remove some of the frustration with mobile commerce. When you take this into account along with the increase adoption of smartphones, mobile commerce is ripe for opportunity.

Finally, the improvements in mobile payments will help to move customers from mobile browsing to mobile purchasing. Many consumers enjoy the benefits of mobile payments as they don’t want to have to manager credit cards or cash. In addition, “consumers expect value-added services such as enhanced shopping experiences, real-time proximity offers, improved loyalty and other benefits.”

Although all of the above are positive predictors for the future of mobile commerce, brands will need to be keenly aware of how they are interacting with the consumer in order to benefit form those trends. It is important that brands are able to reach their potential customers through building the right awareness. They also need to ensure that mobile payments are simple and easy to use, ideally with one click purchasing. Next the mobile interface for the brand needs to be engaging, easy to navigate and provide value to the consumer.

All in all, the stage is set for brands in regards to mobile commerce. However, it is up to them as to how well they are able to take advantage of the opportunity.

Changing Landscape of Mobile Commerce and What it Means for Brands

http://www.luxurydaily.com/changing-landscape-of-mobile-commerce-and-what-it-means-for-brands/