Rampant interest in mobile payments is expected by 2015, along with a significant increase in mobile commerce. Due to this, Gartner, Inc. predicts that by 2017, US customers' mobile engagement behavior will drive mobile commerce revenue in the US to 50 percent of US digital commerce revenue.
A recent Gartner survey found that mobile commerce currently generates 22 percent of digital commerce revenue.
"Some sectors will migrate more quickly than others to accepting mobile payments and promoting mobile commerce," said Jennifer Polk, Research Director at Gartner. "For example, big-box retailers may not need to move as quickly as other industries because the in-store experience is still a critical part of their value proposition and the customer experience, making digital and mobile commerce a smaller portion of their overall revenue. However, new credit card standards will cause a shift in liability for fraudulent transactions in 2015, requiring retailers to update their point-of-sale systems for safer credit card transactions. This opens the door for point-of-updates to also accept mobile payment."
Marketers with digital and mobile commerce initiatives need to focus on encouraging the development of cross-functional teams — including IT, sales, customer support and legal — to create seamless path-to-purchase experiences, and postpurchase relationships with consumers who are increasingly using mobile devices to research and purchase products and services. Mobile marketing teams should investigate how to leverage mobile wallets, with the expected reinvigoration of consumer interest in mobile commerce and payments.
Gartner also predicts that bBy year-end 2016, more than $2 billion in online shopping will be performed exclusively by mobile digital assistants.
Mobile digital assistant technologies, such as Google Now, Siri and Cortana, are already connecting pieces of need/want assessment, information gathering and evaluation — all elements along a buying process sans autonomous purchasing.
By year-end 2015, mobile digital assistants will have taken on mundane tactical processes such as filling out name, address and credit card information. Fixed events such as grocery replenishment will be common and will build trust for these types of assistants to take on more. By year-end 2016, slightly more complex purchase decisions, such as buying back-to-school backpacks and chained events — such as scheduling a highly rated, date-type movie along with dinner and car pickup on an anniversary — will be easily achievable. By this time, autonomous mobile assistant purchasing will reach $2 billion annually, representing about 2.5 percent of mobile users trusting assistants with $50 per year.
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