The phrase mobile commerce
was originally coined by Kevin Duffey in 1997, ten years before the first
iPhone was launched, to mean “the delivery of electronic commerce capabilities
directly into the consumer’s hand, anywhere, via wireless technology”. This was during the launch of ‘Global Mobile Commerce Forum’ in
November, 1997. At this forum, Duffy explained the potential of mobile
commerce, estimating that by the year 2000 there would be 150 million mobile
users. Duffy’s prediction was vastly wrong as he underestimated the rapid
growth of this technology; by the year 2000 there were just fewer than one
billion mobile users. Read more here.
There are currently some interesting developments within mobile commerce as corporations realise the great potential of this form of commerce and attempt to harness it. Some are just employing basic tactics that most e-retailers should by now have adopted, such as ensuring websites are both browser and mobile optimised so that the shopping experience is pleasant and as easy as possible. Other's are taking further steps to capitalise on this opportunity.
The value of this new phenomenon is set to more than double within four years
Dishman states that mobile commerce is expected to be worth $3.2 trillion by 2017, a 113% increase on 2013's $1.5 trillion. This is a huge opportunity for growth and profitability.
Mobile Payments
The way we pay for goods and services is facing another revolution, as it did at the end of the 20th century as credit cards overtook cheques, eventually rendering the latter obsolete in high streets. The world is gradually migrating from cash and credit cards to apps that are run on our smartphones. More and more stores are getting on-board, with Burger King in the US being the latest major brand too add a mobile payment option (Bloomberg News). According to analysis conducted by Forbes Insights and Appinions, there has been a significant increase in mobile payments in 2014. Since Apple CEO Tim Cook announced the tech giants interest in mobile payments there has been a sustained level of double the reaction's since before Cook's announcement, as shown in the graph below.
Source: Bruce Rogers, Forbes Chief Insights Officer 'Who is Leading the Digital Mobile Payment Influence Battle'
Mobile Retail Shopping
Apple is currently developing a mobile retailing infrastructure across the United States. Known as iBeacon, it is a retail tracking technology that enables retailers to set up transmitters that can be used to communicate with a nearby smartphone or tablet. his could allow shops to alert nearby customers of special offers or provide coupons, prepare pre-ordered items the minute someone walks through the door or even help with shopping list reminders. This, combined with the ability to pay with your smartphone instead of wallet, means Apple will have successfully closed the loop on mobile retailing. For more information, see Alex Hern's 'What is Apple's iBeacon', published in the Guardian UK.
The value of this new phenomenon is set to more than double within four years
Dishman states that mobile commerce is expected to be worth $3.2 trillion by 2017, a 113% increase on 2013's $1.5 trillion. This is a huge opportunity for growth and profitability.
Mobile Payments
The way we pay for goods and services is facing another revolution, as it did at the end of the 20th century as credit cards overtook cheques, eventually rendering the latter obsolete in high streets. The world is gradually migrating from cash and credit cards to apps that are run on our smartphones. More and more stores are getting on-board, with Burger King in the US being the latest major brand too add a mobile payment option (Bloomberg News). According to analysis conducted by Forbes Insights and Appinions, there has been a significant increase in mobile payments in 2014. Since Apple CEO Tim Cook announced the tech giants interest in mobile payments there has been a sustained level of double the reaction's since before Cook's announcement, as shown in the graph below.
Source: Bruce Rogers, Forbes Chief Insights Officer 'Who is Leading the Digital Mobile Payment Influence Battle'
Mobile Retail Shopping
Apple is currently developing a mobile retailing infrastructure across the United States. Known as iBeacon, it is a retail tracking technology that enables retailers to set up transmitters that can be used to communicate with a nearby smartphone or tablet. his could allow shops to alert nearby customers of special offers or provide coupons, prepare pre-ordered items the minute someone walks through the door or even help with shopping list reminders. This, combined with the ability to pay with your smartphone instead of wallet, means Apple will have successfully closed the loop on mobile retailing. For more information, see Alex Hern's 'What is Apple's iBeacon', published in the Guardian UK.
