Missing the Mobile Commerce Revolution

Shop-App-BWhile a large percentage of actual shopping transactions may not happen on a smartphone, it doesn’t mean the mobile device isn’t having a significant impact on purchases.

A new study looking at multi-screen activity found that a majority (75%) of consumers learned something new via mobile and their in-store purchase was influenced for almost half (45%) of them.

The global study in 14 markets by InMobi focused on the impact of various media and found that mobile is increasing in importance.

For example, mobile ranked first in media consumption among mobile Web users, who consume 108 minutes per day, compared to 52 minutes from radio and 92 minutes from television.

But from a mobile commerce standpoint, the more significant findings center on the impact mobile has on shopping activities.

In terms of mobile influence on their shopping behavior, the study found that mobile helped 69% of consumers find something nearby, 55% to reconsider a product and 46% to buy via their mobile device.

Many people think of mobile commerce as the actual, final transaction when money changes hands, whether physically or digitally. But this misses the bigger picture of what’s going on in world of mobile shopping.

Studies often rank mobile vs. tablet transactions based on the actual purchase, when in reality, that is only one stage of the mobile purchase cycle.

Numerous studies point to the majority of retail transactions still occurring within the walls of brick and mortar stores, despite the massive adoption of smartphones and tablets.

This misses the impact mobile is having on shopping behavior.

Whether watching TV, in transit, in a store, near a product or even after a physical transaction, mobile consumers continually use their devices to shop.

Mobile commerce is a holistic process comprising many continuous and iterative stages that typically involve a monetary transaction at one stage of the cycle.

Focusing on only one stage of this mobile shopping process can cause any merchant a total miss in the mobile commerce revolution.

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Save the Date: OMMA mCommerce, July 15, New York. Here’s the AGENDA.

Tags: mcommerce, mobile
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