Mobile phones have increasingly become tools that consumers use for banking, payments, budgeting, and shopping. Given the rapid pace of developments in the area of mobile finance, the Federal Reserve Board began conducting annual surveys of consumers’ use of mobile financial services in 2011. This 78-page report, “Consumers and Mobile Financial Services” (March, 2015) examines trends in the adoption and use of mobile banking, payments, and shopping behavior and how the emergence of mobile financial services affects consumers’ interaction with financial institutions.
Harnessing Mobile Commerce to Close In-Store Sales
Shoppers who have in the past turned to the Internet for their research before heading to brick-and-mortar stores are increasingly melding their online and in-store shopping with the exploding popularity of mobile applications for use on smartphones.
Now shoppers can actually get instant price comparisons online based on their scans of in-store bar codes. For merchants who have the customers in their stores, a mobile sales and marketing strategy can help win over an increasingly “mobile” customer.
From eCommerce Times: “The quick research conducted on a mobile device while in-store is frequently the final push customers need to make the purchase. You’ll often see big-ticket customers standing in store aisles, iPhone or BlackBerry in hand, researching product comparisons and reviews for the big-screen TV or appliance they are considering.
Mobile commerce means more than just buying goods through your phone. Increasingly, mobile is impacting how consumers search, locate and decide to purchase goods both online and in brick-and-mortar stores. As consumers are evolving into true cross-channel shoppers, the real mobile opportunity for retailers presents itself. Integrating mobile into a comprehensive cross-channel strategy ensures you are meeting your customers where — and how — they shop for your products today.
Read more – via E-Commerce Times
