Being in the business of ecommerce, it’s not surprising to find ourselves riding the next big tech wave – mobile commerce. Seeing that most people have their cell phones attached at the hip, literally for many, it’s natural for marketers to grab this opportunity to reach prospective customers. The chances are far greater for retailers to reach consumers on their mobile devices than anywhere else these days, regardless of the media.
Just last week, Mobile Commerce Daily reported:
- Best Buy unveils mobile consumer electronics marketplace
- The Oxford Club, Spa and Salon increases customer loyalty via mobile marketing initiative and
- Lane Bryant pushes apparel sales via mobile coupon promotions, among others.
Mobile commerce is happening and it’s happening now. Smartphone sales are booming with an increase of 49% in the first quarter of 2010, alone (May 19, 2010 Gartner press release). The Number of US smartphones will increase from 60M in 2010 to 100M in 2011 (The Nielsen Company). Three-quarters of online retailers have either implemented a mobile strategy or plan to perform mobile commerce, according to a new study from Forrester Research - “The State Of Retailing Online: Marketing, Social Commerce and Mobile Report (Retailer Daily – Sept 23, 2010).
The mobile channel gives retailers an avenue to consumers who are ripe for buying. With a smartphone, relevant products and timing – the moment of impulse – the potential growth opportunity for online merchants is real.
Examining recent trends and data, it’s difficult to conclude that a strategy of waiting on the sidelines is a safe bet for retailers. Online merchants who want to stay ahead of the competition should be looking to test the market now or risk falling behind.
Taken together, the increase in smartphone use, improved technology and a want-it-now culture, it’s not hard to see that this confluence of forces has created a considerable growth opportunity for online merchants.
Stay tuned ... next we’ll discuss how to adopt the right mobile strategy for your business.
