Despite the undeniable surge in adoption of smartphones and tablets over the past five years, until recently any talk of the impending tidal wave of mobile commerce (m-commerce) has mostly been overstated. As we often see with forecasts about emerging technologies, a sense of irrational exuberance can cause predictions to get out ahead of the realities of consumer behavior.
But this past year appears to be an inflection point, with many consumers now expanding use of their mobile devices for more advanced functions – including digital commerce transactions. With m-commerce now accounting for about one out of every ten e-commerce dollars, it’s finally time for retailers and marketers to start paying close attention to this platform shift so they can develop strategies to meet the evolving needs of their customers.
Developing the right strategies must first begin with having the right context for how consumers are shopping and buying on their mobile devices today. With that in mind, here are 5 things that every marketer should know about the current state of m-commerce:
M-Commerce Success May Separate Winners from Losers in the 2013 Holiday SeasonThe 2013 holiday season is fast-approaching, and it just may be shaping up as a watershed moment for m-commerce. Savvy marketers will be focused on capitalizing on this emerging sales channel and will understand that as much as $10 billion in m-commerce sales could be up for grabs during the 4th quarter.
Consumers not only have smartphones and tablets, but they are also increasingly comfortable using them to transact. Retailers with an advanced understanding of m-commerce will be able to most effectively deploy their assets and marketing resources during the year’s most crucial spending period. Doing so just may be the difference between the winners and the losers this holiday season.