The concept of mobile commerce, or m-commerce, refers to the purchases made by consumers using their mobile devices. And, as smartphone owners make more use of their devices each day, mobile commerce is also entering an era of growth, as consumers use mobile devices for searching, shopping, and buying on-device.
With one out of two phones are web- and application-enabled, mobile payments are predicted to reach up to $214 billion by 2015. But what’s more interesting is consumer habits: users are no longer buying only phone-related stuff using their handheld devices, but have shifted towards in-store-like purchases: books, apparel, jewlery… This hints at 2013 being a critical year for mobile’s influence on other retail channels.
According to Mickey Alam Khan, editor in chief of Mobile Marketer and Mobile Commerce Daily, New York: “Mobile is maturing to the point where the discussions for optimized commerce-enabled presence revolve not around why, but when. What retailers, marketers and financial services companies are finding is that consumers are increasingly beginning the research and shopping process on smartphones and tablets and then migrating the buying to the device itself or influencing the purchasing decisions in-store”.
What to expect in the future?
Mobile commerce is changing the showrooming as we know it. But it is also changing the shopper, the retailer and the financial services firms. Near Field Communication (NFC) technologies and e-wallets (like Google Wallet or ISIS mobile wallet) are definitely a step further from paper money, and this is a trend that is not going to go away.