One thing I like about predictions is that, at least eventually, you can see how good they were. Another aspect is that if they're made by someone who at least should be in the know, they can point to some potential trends, even if the end prediction isn't realized. Since it's early in the year, the annual predictions around mobile payments are coming out, as expected. As usual, the predictions are for good times ahead in the world of mobile payments.
Using mobile devices for in-store shopping activities are about to be cranked up yet again. This is being driven by a continuing focus on creating the retail experience of the future, where new, interactive technology spreads throughout the retail world. As I roamed the various floors and displays at the National Retail Federation annual retail show of shows in New York this week, it became apparent that some of the technologies here and on the way are going to transform consumer in-store behavior.
The impact of mobile on this past holiday shopping season was projected to be huge, and huge it was. With final tallies coming in, spending via smartphone for online purchases hit $13 billion, based on a new study. That's an increase of 59% from a year ago, according to comScore, and that's just for the last two months of last year.
Mobile commerce is not always defined by an actual product introduced as much as by new capabilities ether delivered or implied within the new products. This struck me as evident yet again as I watched product after product introduction at the annual CES show in Las Vegas this week. Many manufacturers clearly save their big bangs for the show and as a result, announcements and introductions can overwhelm any normal day-to-day nuances that may impact commerce.