[Infographic] How M-Commerce is Transforming Retail
The relationship between retail and technology continues to evolve at incredible pace. Less than twenty years ago, the idea of purchasing products online was generally met with scepticism, with fears in relation to security issues and a lack of trust. While security issues when shopping online have not been eradicated entirely, the introduction of SSL and recognised online payments systems such as PayPal have revolutionised the consumer experience and contributed to allaying fears when purchasing products over the internet.
Recent years have seen an incredible surge in mobile device usage globally, and this coupled with improving high-speed Internet access has seen new opportunities for both consumers and retailers in the form of M-Commerce.
Figures indicate that by 2018 M-Commerce revenue will be over $600 billion globally. However, studies show that only 10% of retailers surveyed by Deloitte plan to implement a mobile strategy, but 63% feel that it is important in order to maintain market share.
Shoppers using smartphones in-store convert at a rate of 40% more than those who dont Click To Tweet
This infographic by Snap Parcel provides interesting information regarding increased mobile usage on a global scale and provides insights into consumer shopping habits while using mobile devices.
It also touches on several methods that retailers can implement to ensure that they are capitalizing on the available opportunities, and more importantly, provide and facilitate an improved consumer experience in order to maintain and increase market share.