By: Becky Bracken
Service providers are trying to carve out new revenue streams and enabling commerce is one of the most obvious. There is no doubt that the ubiquity of smartphones and connectivity is changing the way people shop. In fact, according to comScore's latest findings, 38 percent of smartphone owners have used their phone to make a purchase at least once in the course of their device ownership. The most popular products purchased on smartphones during the month of September included digital goods, clothing/accessories, tickets and daily deals.
â€śFueled by smartphone adoption, mobile is becoming a central part in the shopping funnel for many consumers,â€ť said Mark Donovan, comScore senior vice president for mobile. â€śIn September we saw two-thirds of all smartphone owners perform shopping activities on their phones, including comparing products and prices, searching for coupons, taking product pictures or locating a retail store. Considering there are currently 90 million smartphone owners in the U.S., retailers without a well-developed mobile strategy are not only missing a tremendous opportunity with these customers, but also risk becoming obsolete in the minds of these digital omnivores.â€ť
Take a trip to the local farmer's market and Jimbob can whip out his card swipe smartphone attachment and accept your plastic faster than you can say â€ś100 percent organic berries.â€ť Even the most back-to-basics-minded folks realize cash is clumsy and over. Mobile payment is demolishing shopping boundaries. Service providers with all kinds of angles are eying mobile commerce opportunities.