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Reports: Mobile influence is growing
According to new data from WalkerSands, most consumers (42%) are carrying - at most - $20 in their wallets. The 2014 Future of Retail Study shows about 20% are carrying zero cash while 39% carry between $21 and $100. The company believes this new trend is a wake-up call for retailers and e-tailers to simplify mobile payments.
"Retailers must adapt to the cashless atmosphere consumers are demanding - online, through social and even while shopping in store," said Tory Patrick, account director and lead of the retail technology practice at Walker Sands. "There's much to be gained for retailers and technology companies through consistently evolving commerce strategies across channels, including the enhanced ability to attract and retain customers."
Other interesting findings from the report include:
• 66% of online shoppers say they're 'more inclined' to shop with retailers offering mobile payments
• 59% say they'd like to see mobile self-check options while shopping in-store
• 78% want increase security from retail websites, 68% want better online customer service
• 6 in 10 say they're engaging with favorite brands via social media
• 3 in 10 say Pinterest has influenced a purchase
Nexage sees a lot of potential in the mobile commerce space, as well. Looking back at Q3, Nexage analysis shows programmatic (RTB) ad buys are trending up in the mobile space. Private exchanges are seeing a huge upswing with revenue from the private exchanges increasing more than 500% in Q3. Moving forward Nexage experts believe RTB's share of the mobile ad spend will continue to increase.
Their analysis also suggests that great transparency will become more important for mobile brands as we move into 2014.
Image via Shutterstock
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