While your customers may not be looking to make purchases with their phones today, tomorrow may be a different story. While proactive business owners may be excited to start leveraging customer engagement and omni-channel retailing, consumers are also driving the growth in the mobile payments landscape. This presentation covers why so many consumers are moving to mobile payments and some projections on where the market is headed.
What are the Benefits of In-Store Mobile Commerce
We often think of mobile’s role in commerce as simply allowing the consumer to do research in the store. Increasingly, though, shoppers are using their smartphones to actually purchase items, replacing their credit cards and wallet entirely. In this presentation, we examine the benefits of mobile commerce for consumers – and why businesses would be wise to pay attention.
Why Consumers Love Mobile
Depending on the merchant’s mobile processing system, customers can pay with their choice of debit card, credit card, or e-wallet.
Salespeople can now ring up customers in the aisles instead of sending them to a busy cash register.
In stores with NFC and/or QR code support, customers can reap exclusive savings right at the point of sale simply by scanning with their smartphones.
No more carrying around different loyalty cards for a dozen retailers. Today’s customers can participate in every loyalty program to which they belong using just their phones.
The Mobile Commerce Opportunity
Mobile commerce isn’t just a theoretical possibility; it’s a real trend that customers are participating in right now:
- 73% of consumers say they have used their mobile phones in stores.
- 38% of smartphone users have used their phones to make purchases.
- 21% of consumers search for mobile coupons on their phones while in stores.
Mobile Set to Dominate Contactless Payments by 2013
In its winter 2012 “Optimized” report, Discover credit card company projected contactless payments to go mobile in a big way. Seeing Non-Mobile dropping below $200 million by the year 2015, while Mobile rises to over $22 billion.
Discover alone has already installed contactless readers at over 200,000 restaurants, gas stations, convenience stores, pharmacies, and public transit agencies.
In-store mobile commerce is highly appealing to customers, is already taking place today, and is growing in scale every year. If you aren’t taking advantage yet, now is the time to start!
- Interactive Advertising Bureau