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The Future of Retailing: Building Mobile Commerce!

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The Future of Retailing: Building Mobile Commerce!

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The growth of smartphone market is undergoing exponential surge in the last 18 months as data traffic on smart phones 1600%. Apart from mails, collaborations suites and social media, retail commerce and ecatalogs form a critical chunk of applications accessed by smartphones. With falling data rates and rising smartphone user volume mobile commerce is all set to grow as a trend that is here to stay. One of the indications of this emerging trend is the onslaught of Tablet and mid size devices in the market. Consumers no longer have to wait till they get to office or home to log in and access stores to make a purchase. Smart devices and tablets make this experience available to buyers on the go. The future of ecommerce is about aligning Retail towards the increasing growth of Mobile Commerce ! Here is some industry data stats from BBC site that show the rise of smartphone users in China (http://www.bbc.co.uk/news/business-14679595 )

  • China’s online shopping had turnover of $80bn, and grew 87% year-on-year
  • China’s 420 million internet users spend a billion hours each day on-line
  • China had 288 million mobile internet users by the end of 2010, up 18.5% year to year
  • Mobile Internet sales is in its infancy but has already started to generate significant revenue reaching USD261 million in the second quarter of 2011
  • Last year, 185 million Chinese made at least one online purchase
  • This volume is expected to increase 4X by 2015

We as providers of ecommerce solutions need to anticipate this rising demand and optimise our existing ecommerce platforms for this form, design and functionality. Our objective has to be about implementing a seamless, unified cross-channel platform experience across users that enables a mobile optimized website accessible through Smart phones and Tablets anytime, anywhere by anyone. We need to push the user experience as one that is highly personalized and beyond geographic barriers.

Here is a list of offering / features that have to be geared up for mobilecommerce:

  1. ECatalogs, rich mobile optimised images
  2. Mobile Website – HTML5 powered
  3. Product pages on Social Media
  4. Mobile based promotional flyers
  5. Loyalty Programs for mobile checkins
  6. Mobile based product search capability
  7. Barcode and QR Code scanning capability
  8. Maps and Geolocation capability for locating a Store

So as product aggregators we need to gear up our online offering to plan for the increasing user demand to enable better and personalised user experience .

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