Otherwise they’ll miss out on rising m-commerce
A significant minority of retailers have yet to optimise their sites for mobile, according to Dr Windsor Holden, author of a recent Juniper Research report on m-commerce. “Unless retailers ensure a seamless, user-friendly mobile shopping experience, they will fall behind competitors who are already using mobile channels to enhance customer relationships,” Holden warns. The report also found that lengthy POS (Point Of Sale) infrastructure replacement lifecycles were hampering NFC deployments in both the retail and transport sectors.
Many players are reluctant to upgrade infrastructure to support NFC without a demonstrable return on investment.
Nevertheless, the value of m-commerce transactions conducted via handsets and tablets will exceed $3.2 trillion by 2017 – up from $1.5 trillion in 2013, Juniper says.
The increasing popularity of mobile devices for bill payment is reflected in the fact that the mobile banking sector accounts for the lion’s share of transaction values over the next five years.
To put global m-commerce into context, total financial transactions in the USA alone exceeded $4,400 trillion in 2012.
The introduction of mobile wallet services was providing first time financial access in many emerging markets where the proportion of unbanked adults exceeded 50 per cent.
In the same markets, partnerships between OTT storefronts and network operators – enabling payment via direct operator billing – were enabling greater access to the digital economy.
The report highlights the fact that retail, airline, financial institutions are emphasising the importance of the mobile channel as an engagement, delivery and payment mechanism.
It cites the activities of Visa and Mastercard with regards to NFC certification and the airline industry’s wider eTicketing initiative as key developments.
More details on the report – ‘Mobile Commerce Markets: Sector-by-Sector Trend Analysis & Forecasts 2013-2017′ can be found here.