The best chance of success within an industry or trend is to start it when the only way is up and the market is not over saturated. This idea can be applied to today’s mobile commerce market. The majority of retailers and service providers recognize that their needs to be an app or mobile-optimized version of their website offered to keep mobile users happy. Full blown mobile commerce strategy complete with mobile payments is still a relatively uncommon practice. In fact, data suggests that 72% of US millennials still prefer shopping on their PC or laptop over their mobile devices. This is the demographic that usually drives new technological trends forward. 88% of US millennials are yet to adopt a mobile wallet at all. This suggests that there is still room before the concept takes off. Will your business be ready?
To help fine tune your mobile commerce strategy Skilled.co have published a new infographic with 10 top tips. It draws from a 2016 behaviour report on US millennial’s smartphone habits.
The data reveals several interesting facts, including that mobile shopping is most popular among high school students and millennials on maternity leave. The exact reasons for this are unclear, though we can speculate that school kids tend to try new technologies before other demographics. High use among those expecting a baby may boil down to having more free time and the possibility that it’s more comfortable to shop on a phone than to sit at a desktop computer. Whatever the reasons, targeting the right audience should be an important part of any strategy. The mobile audience is quite different from the traditional online shopping audience.
For example, purchasing fashion items and booking flights and hotels are some of the most common e-commerce segments. They are ranked the lowest in smartphone spending priorities. Conversely buying flowers is not particularly popular overall, but 40% of millennials spend more money on flowers via their smartphone than any other product. It is therefore important to recognize that some commerce niches are not going to experience success right away.
Here are 5 other interesting facts that could be of use to your mobile commerce strategy:
5) Good luck for female fashion retailers, as women are twice as likely as men to spend money on clothing using their phones.
4) Smartphone addiction is so strong that 82% of millennials check their device within an hour of rising and 73% sleep with it beside their bed. Can this be exploited to your benefit?
3) The top ranked feature of using a smartphone among college students is easily finding a location. If you have a physical retail outlet, do you have a method for mobile users to find the address?
2) As a percentage of more entrepreneurs use a smartphone wallet than full-time employees.
1) Despite massive room for growth, the idea of mobile shopping is still high up on most people’s lists. In fact millennials rank the ability to shop on their smartphone as one of the key benefits to owning one, even if they’re not actually going through with it.
For more interesting facts about millennial smartphone usage and how these can be used to improve your mobile commerce strategy, take a look at the full infographic.
This blog is part of a collaboration between Webdura Technologies and Skilled.co. We have partnered with skilled.co to provide you with some high-quality articles as part of our knowledge sharing initiative.
This resource was published by skilled.co01 December 2017
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