Tag Archives: shopping

Ecommerce Hit Milestone

Digital commerce, fueled by growth in mobile purchasing, hit a huge milestone last year.  In 2012, B2C ecommerce spending totaled on $1 trillion globally.  New research has come available that shows it’s not even close to slowing down.

shutterstock_111037535● From 2011 to 2012, global ecommerce grew 21% to reach $1.2 trillion

● By 2016, ecommerce is projected to hit $1.5 trillion worldwide

● In North America, digital spending grew 14% to nearly $365 billion.  Next year it is expected to expand to over $400 billion

● The number of digital buyers in the US is expected to grow from 150 million last year to 175 million in 2016

● China is expected to see the greatest growth.  Ecommerce is projected 65% from 2012 to 2013 and the number of digital customers will rise by nearly 25%

What Does This Mean To You?

What does your ecommerce strategy look like?
Digital purchasing, mcommerce in particular, is rapidly changing and growing. Having a strategy is important, but making sure it’s scalable is equally important.  Things like mobile point of sale will have a dramatic affect on how your business operates.  The international adoption of digital purchasing may open new markets for your business as well.  While we can’t predict the changes that may occur, being nimble and being able to quickly pivot is something that could give your company a competitive advantage in the future. For more information on how to capitalize on ecommerce growth, please contact your Orlando Sentinel Media Group representative or:
Al Fiala
Advertising Research Supervisor
407-420-5702
afiala@orlandosentinel.com

Source: Emarketer

Consumers And Mobile Banking Apps

Recently, we’ve published posts on how popular mobile banking and consumer behaviors that will probably come from it. We’ve said many times that the reason why consumers are so dependent on their mobile device is convenience.  The same could be said for mobile banking apps.  While it may be fun to work “banker’s hours”, those hours don’t make physically visiting financial institutions convenient at all.  Online banking and now mobile banking have made banking easier.  New research is out that gives information on the percentage of mobile banking and what mobile banking customers are looking for.

shutterstock_92978851• In a recent survey, 44% of consumers had downloaded a banking app

• Among those who have downloaded a mobile banking app, 55% say they use the app more now than when they first downloaded it

•  Two-thirds of mobile banking customers expect to receive notifications immediately when their balance is low or are in an insufficient funds situation

• Seven in 10 want to receive communications to help them avoid financial trouble

• Among 18 to 24 year olds, Three-quarters of them expect notifications

• Less than half of mobile banking consumers said they receive balance updates, One-third were notified when their balance was low and three in 10 receive messages when a bill is due

• 13% of users want to get notifications through their app (push notifications), over 20% said they wanted to get notices via SMS text and nearly half wanted to get the information through email

What Does This Mean To You?

There are a couple of big take-aways from this research.  First being that mobile banking may be the first step towards mobile point of sale payment.  While mobile payment through sites like Pay Pal have been around for years, there is mounting evidence that making payments directly through your mobile device is on the way.  Whether it’s through scanning or NFC, mobile point of sale can make checking out very easy.
The other take-away is that consumers are open to receiving direct notifications from merchants, if they find the content valuable.   SMS and email can be key components to a loyalty program and can help you create sales from existing customers.  For more information on how mobile technology can help your business better engage prospective customers, please contact your Orlando Sentinel Media Group representative or:
Al Fiala
Advertising Research Manager
407.420.5702
afiala@orlandosentinel.com
www.orlandosentinel.com/mediakit

Source: Mobile Commerce Daily; Wakefield Research

Luxury Shoppers Expect Mobile Optimized Experiences

There was a time not too long ago when luxury shoppers lagged behind the general population in mcommerce adoption.  There were a variety of reasons for this, affluent consumers tended to fall into older age brackets and those consumers were in the early stages of mobile adoption. Also, affluent shoppers liked the personal service and attention from shopping in store.  New research suggests that luxury shoppers now expect retailers to be mobile-ly optimized and are active mcommerce participants.

shutterstock_86160289• Over half of affluent shoppers expect the brands they shop to have a mobile site and 49% anticipate them to have a mobile app

• Over 40% think these brands should have mobile purchasing functionality and over one-third expect the mobile site to offer the same assortment of products & services as the retailer’s desktop site

•  Over a quarter of luxury shoppers own a tablet compared to roughly 16% of US web users

• Nearly 60% of digital luxury shoppers have made a mobile purchase compared to 12% of total smart phone owners

• The median age of a digital luxury shopper in the US is 37%, which is much younger than the median age of a mainstream digital shopper.  Their median age is 44

What Does This Mean To You?

If your business targets upper-end consumers, mobile is a must have.  Not having a mobile site could eliminate half of your potential target shoppers.  Not having a mcommerce option could purge 40% of them from your customer base.  This buying segment values service as well as convenience.  Things like mobile chat and mobile product videos are things that will enhance their experience and build loyalty to your business.  The fact that these shoppers are more inclined to be tablet owners also gives you more options to improve their shopping experience.  Large screen sizes and enhanced features can help you better show off everything you have to offer.  For more information on how your business can engage the luxury mobile consumer, please contact your Orlando Sentinel Media Group representative or:
Al Fiala
Advertising Research Manager
407.420.5702
afiala@orlandosentinel.com
www.orlandosentinel.com/mediakit

Source: Mobile Commerce Daily; Forrester

The Mobile Future

Last week, we published a post on the huge growth of mobile shopping year over year.  Mobile allows you put your message in the palms of prospective consumer’s hands on devices they have with them most of the time. New research has come out that looks into the future growth of mcommerce and the devices consumers will be using.

shutterstock_86160289• In 2013, it’s estimated that over $38 billion in mcommerce will take place. Over 60% is projected to take place on tablets

• By 2016, mcommerce is anticipated to reach over $86 billion.

• Over the next few years, tablets are expected to be the main conduit for mobile shopping.  By 2016, $7 out of every $10 in mobile spending will come from a tablet

• From now to 2016, mobile sales via tablet are predicted to grow by over 150%.  Mcommerce from smart phones are likely to grow by over 80%

What Does This Mean To You?

Mobile is constantly evolving and that means more ways for you to influence prospective customers & more ways for consumers to find your business and buy things from you.  It also means there are more ways for your competition to take business away from you.  It’s important for you not to think of your marketing plans and mobile tactics as set in stone.  Be ready to pivot as new technology becomes available and consumer’s use of mobile technology changes.
Things like mobile payment adoption, more uses for near field communication and increased acceptance of augmented reality can increase convenience for mobile users  and increased engagement with your business.  For more information on how to stay ahead of the mobile curve, please contact your Orlando Sentinel Media Group representative or:
Al Fiala
Advertising Research Manager
407.420.5702
afiala@orlandosentinel.com
www.orlandosentinel.com/mediakit

Source: eMarketer

 

Making Mobile Shopping More Convenient

In yesterday’s post, we looked at research that showed what tablet shoppers thought would make their experience better. Today, we’re going to look at overall mobile shopping and the factors that could make it more convenient for consumers.  Convenience is one of the factors driving the rapid growth in mobile.  The convenience of having the device around at all times, the convenience of nearly instantaneous web access and the convenience of mobile sites.  New research is available that looks at what consumers think would make shopping via mobile more convenient.  This can help your business build a better mcommerce strategy.

shutterstock_99408548• The most important thing to mobile shoppers was the finding the products they want to buy – nearly one in four mobile shoppers answered that way

• One in six mobile shoppers wanted the checkout process to be easier,
16% said that it should be easy to check out

• Just over 10% were looking for easier access to their billing information and 8% wanted improved sharing tools

What Does This Mean To You?

As we’ve seen in prior posts, mobile shopping is sharply on the rise.  As consumers are becoming more mobile-ly enabled, they expect more from your mobile offerings. If your site is not convenient to use and navigate, consumers will look to other competitive sites.
One of the things to measure is your rate of shopping cart abandonment.
This will help you gauge your checkout process.  The ability to share was lower on the list of mobile “wants” but can be important in the future.  Social is rapidly becoming a mobile-first function.  Sharing is one of the chief functions of social shopping.  The more consumers share your products, the more exposure your brand and products receive.
For more information on how to increase the results from your mcommerce tactics, please contact your Orlando Sentinel Media Group representative or:
Al Fiala
Advertising Research Manager
407.420.5702
afiala@orlandosentinel.com
www.orlandosentinel.com/mediakit

Source: Mobile Commerce Daily; SiteWorx

Creating a Better Tablet Shopping Experience

Earlier this week, we showed information on how smart phone shoppers and tablet shoppers differed in their holiday purchasing activities.  Tablet shoppers were more likely than smart phone shoppers to make purchases.  New research has come out that shows what features make tablet shopping more convenient.

shutterstock_106896515• Ease of finding products was the top reason at 22%

• 13% of users said that being able to get reviews and rating were important

• Another 13% wanted an easy checkout system

• 8% indicated that they required access to billing information through the tablet

• 6% thought that social activities such as sharing projects with friends was something wanted

What Does This Mean To You?

Tablet shoppers are important. Not only are they a great demographic, their numbers are rapidly increasing.   If consumers move away from apps as a tablet function, you will want to incorporate these attributes into your WAP functionality.  It’s always a good idea to watch how your customers are using technology and listen to how you think your offerings could be improved.  Businesses who respond to customer wants usually perform better.  Some things they want may not be financially feasible or technologically possible today, but we never know what the future may bring as the speed of innovation continues increase. For more information on creating more revenue from tablet shoppers, please contact your Orlando Sentinel Media Group representative or:
Al Fiala
Advertising Research Manager
407.420.5702
afiala@orlandosentinel.com
www.orlandosentinel.com/mediakit

Source: Mobile Commerce Daily; SiteWorx

How Consumers Used Mobile Devices Over The Holidays

From prior posts, we’ve chronicled information on much mobile shopping activity was done this past holiday season. Today, we’ll look at what types of shopping activity were done via smart phone and tablet.  This information can help you fine tune your mobile strategies for the future.

shutterstock_112912783• One-third of smart phone owners used their device to look up store hours, directions and locations. 20% of tablet owners looked for the same information

• 19% of smart phone owners and 18% of tablet owners read product reviews on their devices respectively

• Tablet owners were 28% more likely than smart phone owners to compare prices on their devices

• The biggest difference was in making a purchase.  13% of smart phone owners bought something over the holidays on their device.  19% of tablet owners completed a sale on their device

What Does This Mean To You?

While smart phones and tablets are both mobile devices, how consumers use them is different.  Smart phones are used much more often in-store or in transit than tablets.  This makes sense – it’s bad enough to see people drive and use their smart phone, image them trying to type on a tablet and drive.  Also, while many tablets are 3G & 4G enabled, many more are run from wifi.
Research suggests that consumers use tablet more to complete the sale.  Users are checking prices and buying items more often on tablets.  One of the big buzz words you’ll be hearing more about this year is device agnostic.  It basically means that that users will have the same digital experience on whatever device they connect with.  Layouts will automatically scale to the screen size of the device that are accessing on no matter if it’s a smart phone, tablet or phablet (new buzzword alert. A phablet is described as a smaller sized tablet – usually with a 5 inch screen).  These design improvements can help you better display your merchandise to mobile users.  For more information on how your mobile site can contribute more to your bottom line, please contact your Orlando Sentinel Media Group representative or:
Al Fiala
Advertising Research Manager
407.420.5702
afiala@orlandosentinel.com
www.orlandosentinel.com/mediakit

Source: Mobile Commerce Daily; SiteWorx