Mobile Commerce Solutions
Mobile commerce was originally coined in 1997 to mean “the delivery of electronic commerce capabilities directly into the consumer’s hand, anywhere, via wireless technology. Many choose to think of Mobile Commerce as meaning “a retail outlet in your customer’s pocket.”
Here are the mobile commerce solutions by OptimizationMedia.com provided:
- Mobile Money Transfer
- Mobile ATM
- Mobile Ticketing
- Mobile Vouchers Coupons & Loyalty Program
- Location-based services
- Mobile Marketing & Advertising
What’s Fueling Demand for Mobile Commerce?
- Music and video advertising is fueling mobile commerce with ads that are targeted towards specific groups of consumers.
- In 2013, Apple made a big splash with the launch of iTunes Radio, an ad-supported free music streaming service that is built into its iOS 7 operating system.
- The service takes a direct hit at Pandora with an almost identical user experience and is an attempt for the manufacturer to rejuvenate its iAd mobile advertising business.
- The growth in ad-supported platforms suggests that premium subscriptions are not working on mobile, and these companies cannot bank on consumers paying for media to drive their businesses.
- Music and video platforms will need to create relevant and hyper-targeted advertising opportunities for marketers to run commerce-enabled campaigns to keep the money flowing.
Sales of physical retail goods and services made on smartphones were $8 billion in the U.S. in 2012, accounting for 3% of online sales and less than 1% of total retail sales. (Those numbers have been driven up by some outliers, like the aforementioned Amazon and eBay, which have mobile sales in the billions, per Forrester’s estimates.) For most U.S. retailers, mobile represents only 1.5% of online sales.
Over the next five years, total mobile sales are expected to grow a whopping 33% annually to $31 billion, making up 9% of online sales in 2017 which absolutely massive.
Mobile commerce accounted for nearly one-fourth of all e-commerce sales in 2013. According to a recent report by Goldman Sachs, there will be as much mobile commerce in 2018 as e-commerce in 2013.
Increasing smartphone adoption and the rise of mobile commerce is changing the way people research and buy. A recent Google study in partnership with Nielsen revealed that smartphone users spend as much as 15+ hours a week researching products on their phones. Yet, many brands fail to realize the potential of mobile and are only focused on improving their e-commerce store. Here are 21 recent stats on mobile commerce that will change the way you look at mobile commerce.
1. In 2013, U.S. mobile commerce sales grew 63% to $34.2 billion – Gartner
2. By 2015, 81% of all U.S. cell phone users will have smartphones -Invesp
3. 78% of smartphone users access a retailer’s website through a mobile app – comScore
4. Traffic from mobile devices accounted for nearly 40% of total online shopping visits on Black Friday in 2013 – Business Insider
5. 51% of Facebook referrals for publishers come from mobile – Mashable
The global market for mobile payments is forecast to grow about threefold by 2017 to some $721 billion worth of transactions, with more than 450 million users, according to research firm Gartner.
Starbucks, the world’s biggest coffee chain, launched its mobile payment and rewards app in 2011.
“The mobile payments platform has given us a higher degree of frequency and higher degree of loyalty and the question is how can we leverage that beyond our stores,” Starbucks chairman and chief executive Howard Schultz told CNBC television.
Canada Mobile Commerce & Mobile Payments
Mobile engagement and subscriber rates are also soaring in the mobile space. Financial Times users who register on mobile devices are 2.5 times more likely to subscribe. Additionally, 45% of the one million registered mobile users add the web app to their home screen, increasing readership.
MarketsandMarkets, a provider of market research reports, has released a new report regarding the future of the global mobile commerce market. The mobile space will see success in the near future, especially as more businesses and consumers embrace the concept of mobile commerce payments.
The report predicts that the mobile commerce market will reach $467 billion by 2019, growing from the $116 billion it is expected to reach by the end of 2014. The report also predicts that North America and Europe will be the most active markets when it comes to mobile payments and online shopping.
Mobile Commerce Global Statistics
An estimated 4 billion mobile phones are in use globally. The entire mobile industry, including advertisers, manufacturers, software developers and carrier networks, generates annual revenue of nearly $1 trillion, according to market researcher Informa.
Author by: ColinBhimsen Canada SEO Guru: Google+ New-Age Internet Marketing Guru brings expertise in: Search Engine Optimization, Pay-Per-Click Marketing and effective B2B marketing strategy. His educational background includes E-Commerce Management specializing in marketing, website design, and business development.