Retail Business Marketers and the Mobile Commerce Trend
The turn of the 20th century had brought about various changes in the way men live their day to day lives. The evolution of technology and the mutations of existing technologies into something more advance and complex have re-defined the business climate that once was done manually. In the earlier decades like the 40’s, 50’s and even the earlier years of 70’s almost everything is being done manually.
When things need to be verified, it will take a number of days or even weeks to get clearance for a certain documents to be approved or check to be paid by the bank. Checking on the customer’s account will need minutes before actual records are verified. And the documents themselves will need a space in a retail store for keeping. And for some retail stores that got branches from different cities or even countries all across the globe, the management, accounting and other processes can be very tedious. It can even be very burdensome and anxiety can drive a businessman who heads the entire business operation.
Available data are very loud in conveying the strong impact of mobile commerce to retail business. Consider this fact, about $ 4.7 Billion is spent in using Smartphones and tablets in mobile commerce and the statistics never stop. According to some estimate, a sound projection of 63% of people will be shopping through their mobile devices.
The Concept of Mobile Commerce
Mobile commerce was originally termed in 1997 which denotes engaging in a wide range of commercial activities like selling, buying, advertising and product browsing and similar undertakings with the aid of wireless technology. The most common mobile gadgets known in the market today are Smartphones, tablets, PDAs, laptops and netbooks.
Revealing Statistics on the Growth of Mobile Devices and their Usage
According to the latest statistic released by a credible organization, as of May 2013, 91% of the world’s total population uses mobile phones and other mobile communication devices. And out of the total world population, 56% use Smartphones. Furthermore, 50% of the average global mobile web users use mobile devices as their means of browsing the internet. Quantitatively, to quote the exact number of people browsing the internet through the use of mobile gadgets, there are more than 1.2 billion people who use mobile devices to access the World Wide Web.
1. The statistic significance on Retail Business
With the growing numbers of mobile technology users, here are some of its implications to the retail business industry:
- In the business terms in the next 12 months, 80% of consumers plan to conduct mobile commerce.
- The retail business explosion will amount up to $31 billion by 2016 with mobile commerce sales.
- The same statistical data also explicitly showed that 57% of the mobile users will not recommend businesses with poorly designed mobile site.
- 41% of this group uses mobile phones to browse a service or product after having seen them in the advertisement.
- Out of the 8 commercial sectors identified where people would use their mobile devices, the retail sector comprises the biggest cut of 31%.
Mobile Commerce is indeed a lucrative business in the 21st century. It is also worth noting that purchases made through Smartphones constitute 35% of all retail sales, second only to actual purchase in the store constituting 37%. For product research, the data says that product research through the use of tablet constitutes 41%, topping the rest of the methods that were identified such as product researches made in the actual store, Smartphones and laptops.
Another credible authority on the topic shared their view on the influence of mobile commerce to retail business. According to Monetate Q1 2013 eCommerce Quarterly, in 2013, it is becoming very convenient for people to buy on tablets rather than the conventional desktops and eCommerce sites enjoy a higher conversion rate from iPad followed by Android and Kindle Fire.
2. The advantages of mobile commerce to your business
Your retail business can help grow your business opportunities as every consumer is getting more engaged in using their mobile devices for shopping. Here are some of the benefits of mobile commerce to your business:
- Double your sale opportunity
- Make your business always ready on the go
- Your business is accessible to your customer
3. The benefits of mobile commerce to your customers
With the growing numbers of mobile consumers, you will be giving your potential customers great convenience to shop from your online shop with the following benefits:
- They can instantly access your online store using their device
- They will enjoy the convenience of signing up for perks and coupons from your business.
- It is easy to keep your customers updated about the latest products and services from your site.
The Role of Mobile Commerce in Shopping Experience
Another study was conducted to determine the effect or role of mobile commerce to the shopping experience. The study made was comparatively made between the two successive years of 2012 and 2013. According to the survey, in the year 2012, 64% of the respondents said that mobile commerce enhances their shopping experience while in the year 2013, the percentage increased to 25% to which 80% of the respondents noted that their shopping experience was actually enhanced by the use of mobile information technology. The trend, as observed in the data is progressive and the whole scenario is even magnified when we include the year 2011 when only 14% uses smart phones and 7% uses tablet to shop and a whopping 71% uses laptops and desktops to shop online.
Effect of Mobile Advertising for Business
A survey was also made where advertising was disseminated to mobile devices. After a certain period of time and a series of advertisements to mobile devices, a survey was conducted to determine how effective the initiative was. The result showed that 80% of the mobile users downloaded the apps advertised in mobile devices. 67% of the users actually visited the websites of the advertisers and 52% actually visited the store or the retailers’ place of business. And what is there to excite more is that according to a study, 86% of mobile internet users are actually using their gadgets while watching Television programs. Television advertisement spending constitutes $350 billion as of the first quarter of 2013. It is no wonder that TV advertising is the largest and the most expensive advertising medium in America. The relevance between advertising in television and information shared online is much related. In a poll conducted to determine the efficiency of television in advertising, the first three media are: (1) Recommendations from significant persons – 84%, consumer opinions posted online – 70% and Ads on TV – 68%. This data makes sense and actually supports the other study noting that most TV watchers uses their mobile internet devices while watching TV programs.
The Mobile Commerce Trend Grows Retail Businesses
The data presented are direct proof of how influential mobile commerce to retail businesses. In the final analysis, it is inevitable that mobile technology is getting more progressive and growing in the years to come. Wise judgment should guide business retailers that it is high time for them to invest more on how they can make their business accessible to mobile internet devices. If they really intend to make their businesses a big success and maximize the use of modern information technology to their advantage, it is high time for them to enhance their advertising initiatives through mobile internet technology.
Here Are Great Ways in Optimizing Your Business Website for Mobile
- Keep your mobile website simple and with a clean interface.
- Make sure that your mobile website is responsive to any mobile device that your website customers are using.
- Optimize your website design for smaller screen size.
- Use appropriate font design and size to accommodate better viewing of your website elements.
Making your online retail business more relevant to the mobile commerce demands can be daunting. That is why WE CAN HELP you expedite the process of optimizing your business needs to make it more compliant and significant to the mobile commerce trend.