Have we reached the tipping point for mcommerce?by
Statistics suggest that mobile is set to subsume desktop in terms of our online shopping device of choice, however up until now research has varied around how exactly consumers use their phones for shopping.
Data from the Centre for Retail Research (CRR) states that, while the mcommerce market is set to be a £14.95 billion market in UK in 2015, desktop computers are still predominantly the go-to device for UK consumers making purchases online, with 89% of transactions still made via a PC or laptop.
And Erik Engellau-Nilsson, chief consumer business officer at Klarna recently called mobile retail ‘broken’, and that it was time to pull retailers out of a monetisation stone age in order to improve the transaction conversion figures on mobile.
Despite this, the ONS has today revealed that 96% of UK adults now access the internet through a mobile phone, more than doubling from just 24% in 2010, and many industry experts believe the announcement represents something of a tipping point for mobile retailers.
Dan Wagner, eCommerce veteran, Founder and CEO of Powa Technologies believes the ONS statistics prove the opportunities for retailers to crack the mcommerce market have never been so good, but that brands must adapt their philosophy if they are to improve current sales figures:
“The rapid increase in personal internet access has transformed many aspects of our lives, but perhaps none more so than how we browse and purchase goods and services. The vast majority of the population now shops online, with over 12% of all retail sales coming through ecommerce in June.”
“The advent of the smartphone and access to reliable mobile internet has changed the landscape completely in the last five years. In today’s always-on, mobile-driven culture, it seems hard to believe that only 24% of people accessed the internet via mobile in 2010.
“The writing has been on the wall for many years now, but a surprising number of brands and retailers have still not adapted their strategies to match consumer demand. People have become accustomed to the ability to browse and buy on a whim, and time is running out quickly for those brands without a comprehensive mobile strategy.”
Wagner believes businesses must seek out new ways to attract and engage their customers through mobile devices wherever they are, “whether walking past a shop window, waiting for a bus, or browsing online at home”; and that brands should be more engaging with consumers in the ‘research’ phase of the buying process.
This fact has led to a number of big retailers, such as Ted Baker, investing in location-based marketing tools in a bid to improve the engagement between consumers, their phones and physical stores.
Chris is Editor of MyCustomer. He is a practiced editor, having worked as a copywriter for creative agency, Stranger Collective from 2009 to 2011 and subsequently as a journalist covering technology, marketing and customer service from 2011-2014 as editor of Business Cloud News. He joined MyCustomer in 2014.