Top 5 Mobile Commerce Trends for 2010
Posted by: Micah Pratt
What do you use your smart phone for most? Is it to find the nearest bakery, or get directions to the airport, or is it to check the latest scores of the Royals vs. Angeles game while at work? Whatever it is you use your phone for the fact is life is made a lot easier with it. Here is an article from mashable.com about the top five mobile commerce trends in 2010.
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Considering that most people would rather lose their wallet than misplace their cell phone, it’s fitting that the mobile world is quickly becoming a new hub for business. For many of us, our cell phone never leaves our side. It holds a place at the dinner table, is easily accessible in your bag’s front pocket, and often, somehow it even manages to end up sharing your pillow at night. Busy schedules mean people are often on the move and when marketers and companies can’t reach consumers at their computers, on TV, before the previews at the movies, with billboards, or magazine and newspaper ads, they must feel assured that they can still reach them on their cell phones.
Mobile commerce, or m-commerce, is simply the ability to conduct business transactions through a mobile device. With smartphone sales rising 49% in the first quarter of 2010, never before has it been so easy to shop, anywhere, anytime from the palm of your hand. There is an enormous amount of ongoing market research, and though there has been a variety of numbers estimated and reported, they all conclude that mobile commerce is a profitable and rapidly growing market.
By 2015, it’s estimated that shoppers from around the world will spend about $119 billion on goods and services bought via their mobile phones, according to a study by ABI Research released this past February. In the United States alone, mobile shopping rose from $396 million in 2008 to $1.2 billion in 2009, and mobile campaign spending also increased by 25 to 30% over the past year, with companies shelling out just under $313 million according to the same study. Senior Analyst Mark Beccue, said that he’s forecasting U.S. sales to reach about $2.2 billion in 2010.
Here are five mobile commerce trends to keep an eye on for the remainder of 2010.
1. Bargain Hunting
It would seem that mobile purchasing often lends itself to an impulse buy. Maybe you just have to suddenly download that song from the iTunes Store or really want to make sure you have tickets to that hot concert. In this case, it’s the savvy shopper that has taken note of mobile commerce. Beccue said that in the fourth quarter of 2009, he started to notice something unexpected and a bit “weird.”
Bargain hunting has become extremely popular with apps like RedLaser that allow users to scan product bar codes and discover it’s various prices at different retailers. Shoppers are melding the two worlds of online/mobile shopping with actual physical shopping to make sure they get the best prices.