This week was another exciting one for mobile commerce! First, we finally hear further news about the mobile payments system being developed from dozens of big retailers such as Wal-Mart, Target and Best Buy. The payment platform is expected to launch in 2015. Also, mobile traffic for online shopping overtakes desktop traffic in the UK for the first time! We also see growth in eCommerce in general, as new online retailers become favorites for consumers. Then we see some news backing up the concept of omni-channel commerce. While many were worried that consumers would use stores for show-rooming and simply purchase online, it actually turns out that many web-room and buy in store! Check out the full summaries below in our Weekly Wrap Up!
Retailers Taking Mobile Payments Into Their Own Hands
It’s been two years since dozens of big retailers such as Wal-Mart, Target and Best Buy got together to create their own smartphone payments network and mobile wallet. Now, they are finally out with a name and ready for a release date in 2015! Their payment platform name will be called CurrentC and has huge potential. According to the Merchant Customer Exchange, CurrentC is designed to be more than just a swipe-less smartphone payments method. It will be a repository for member loyalty cards and a means for distributing, storing, and redeeming special offers. Do you think this will be able to compete with Apple’s rumoured mobile payments system?
I’m sure many have seen this coming, but maybe not this quick! For the first time, online shopping on mobile devices have overtaken desktop traffic in the UK! About 52% of visits were made on a mobile device. As for actual purchases, desktop is still winning, but at this rate it may not be long until mobile catches up. Currently, 36% of UK online sales are completed on a mobile device. This is a huge landmark in the growth of mCommerce!
A recent survey conducted by Prosper Insight & Analytics identifies the online retailers that consumers most frequently name as their favorites. What do the results show? Besides the regular eCommerce dominants – Amazon, Wal-Mart and eBay, there are new names! Over the past few months, consumers are getting much more comfortable with online shopping and thus are more inclined to try new retailers. The survey also looked into some demographic differences as well as online shopping behaviors. Check out the articles for the full list!
Web-rooming Becoming The New Practice for Consumers
One of the biggest concerns for retailers entering eCommerce was that online sales will just cannibalize their in-store sales. However, that has so far proven not to be the case! Even more, it turns out that many shoppers actually use the web to research on products that they want before purchasing them in store. While 51% of people browse products in stores before ultimately buying online, an even larger number do the opposite! 60% of consumers often browse products online before ultimately purchasing them in stores. This is a newer practice known as “web-rooming”, and it is strengthening the concept of omni-channel retailing!