Retailers’ spend on mobile marketing is set to increase with new researching forecasting annual figures to reach $55bn by 2015.
That’s almost double the $28bn expected to be spent in mcommerce this year, Juniper Research has predicted.
According to the analyst firm's new report, Retail mCommerce: Mobile & Tablet Marketing, Advertising & Coupon Strategies 2013-2017, the proliferation of smartphones and tablets has created new opportunities for brands looking to better engage customers.
The mcommerce boom will see ad spend grow strongly as retailers, particularly those in North America and Western Europe, migrate their spend to mobile, said Juniper.
Additionally, the research found that mobiles were responsible for driving revenue through coupons, as well as new technology channels such as augmented reality and near field communications – with both becoming increasingly integrated with in-store strategies.
Brands are also increasingly attempting to integrate campaigns across mobile social networks such as Foursquare and Facebook, said the report.
But not all retailers are ready for the mobile explosion, warned Juniper, with many websites still not optimised for mobile browsing, registration or payment.
Dr Windsor Holden, author of the report, said: “If retailers truly want to maximise the mobile monetisation opportunity, then optimisation is critical. If you are using mobile advertising for consumer acquisition, you need to push users to a site with which they can comfortably interact; retailers that fail to respond to consumer demand will fall behind.”