How Retailers Are Trying To Own Mobile Commerce

Here are a few ways retailers are trying to own the mobile experience: 

• First off, mobile commerce is big and growing bigger: 29% of U.S. mobile users already have used their smartphones to make a purchase. Bank of America predicts $67.1 billion in revenue from smartphone and tablet retail purchasing by European and U.S. shoppers in 2015. Many other statistics - such as YOY quadrupling in traffic from tablet visitors to retail websites - suggest a similarly huge wave of mobile commerce to come.
• Location targeting and in-store mobile marketing: Whether online or offline, commerce has always struggled with two basic challenges: increasing consumer traffic and influencing shopping decisions just as the consumer's about to buy. Mobile attacks these problems head-on. With location targeting, shoppers can be enticed into stores for items they're in the market for. With in-store mobile marketing, an indecisive consumer can be nudged toward a specific brand or product. 
• Gamification: In the retail context, this is essentially a new approach to digital loyalty marketing (usually via apps). Gamified apps keep users engaged by offering challenges and rewards for completed tasks — just as games do. These apps boost consumer engagement, and allow retailers to influence shopping decisions, while also producing a valuable trove of consumer data. 
• SoLoMo, or "Social Local Mobile":  Location-based services and social media have a very specific meaning for mobile commerce. That's because mobile users tend to use their devices to complete intentions (Where can I buy a nice umbrella? Is there a cheap cofeeshop nearby?), rather than as an in-depth research tool. SoLoMo can be harnessed to increase foot traffic from these mobile users, but also to drive sales and engagement in the store. 

Read more: http://www.businessinsider.com/bii-report-how-retailers-are-trying-to-own-mobile-commerce-2012-11#ixzz2DG2HB9qC

Here are a few ways retailers are trying to own the mobile experience: 

• First off, mobile commerce is big and growing bigger: 29% of U.S. mobile users already have used their smartphones to make a purchase. Bank of America predicts $67.1 billion in revenue from smartphone and tablet retail purchasing by European and U.S. shoppers in 2015. Many other statistics - such as YOY quadrupling in traffic from tablet visitors to retail websites - suggest a similarly huge wave of mobile commerce to come.
• Location targeting and in-store mobile marketing: Whether online or offline, commerce has always struggled with two basic challenges: increasing consumer traffic and influencing shopping decisions just as the consumer's about to buy. Mobile attacks these problems head-on. With location targeting, shoppers can be enticed into stores for items they're in the market for. With in-store mobile marketing, an indecisive consumer can be nudged toward a specific brand or product. 
• Gamification: In the retail context, this is essentially a new approach to digital loyalty marketing (usually via apps). Gamified apps keep users engaged by offering challenges and rewards for completed tasks — just as games do. These apps boost consumer engagement, and allow retailers to influence shopping decisions, while also producing a valuable trove of consumer data. 
• SoLoMo, or "Social Local Mobile":  Location-based services and social media have a very specific meaning for mobile commerce. That's because mobile users tend to use their devices to complete intentions (Where can I buy a nice umbrella? Is there a cheap cofeeshop nearby?), rather than as an in-depth research tool. SoLoMo can be harnessed to increase foot traffic from these mobile users, but also to drive sales and engagement in the store. 

Read more: http://www.businessinsider.com/bii-report-how-retailers-are-trying-to-own-mobile-commerce-2012-11#ixzz2DG2HB9qC

Here are a few ways retailers are trying to own the mobile experience: 

• First off, mobile commerce is big and growing bigger: 29% of U.S. mobile users already have used their smartphones to make a purchase. Bank of America predicts $67.1 billion in revenue from smartphone and tablet retail purchasing by European and U.S. shoppers in 2015. Many other statistics - such as YOY quadrupling in traffic from tablet visitors to retail websites - suggest a similarly huge wave of mobile commerce to come.
• Location targeting and in-store mobile marketing: Whether online or offline, commerce has always struggled with two basic challenges: increasing consumer traffic and influencing shopping decisions just as the consumer's about to buy. Mobile attacks these problems head-on. With location targeting, shoppers can be enticed into stores for items they're in the market for. With in-store mobile marketing, an indecisive consumer can be nudged toward a specific brand or product. 
• Gamification: In the retail context, this is essentially a new approach to digital loyalty marketing (usually via apps). Gamified apps keep users engaged by offering challenges and rewards for completed tasks — just as games do. These apps boost consumer engagement, and allow retailers to influence shopping decisions, while also producing a valuable trove of consumer data. 
• SoLoMo, or "Social Local Mobile":  Location-based services and social media have a very specific meaning for mobile commerce. That's because mobile users tend to use their devices to complete intentions (Where can I buy a nice umbrella? Is there a cheap cofeeshop nearby?), rather than as an in-depth research tool. SoLoMo can be harnessed to increase foot traffic from these mobile users, but also to drive sales and engagement in the store. 

Read more: http://www.businessinsider.com/bii-report-how-retailers-are-trying-to-own-mobile-commerce-2012-11#ixzz2DG2HB9qC