Here’s what caught my attention in the commerce space this week.
Responding to real-time consumer intent
A new survey by behavioral commerce company SteelHouse shows that mobile commerce is getting more social. Mediabistro shared an infographic produced by SteelHouse that highlights a few important points for mobile commerce:
“… one-third of customers state browsing for items as the number one reason why they use a retailer’s apps, ahead of looking for discounts and deals (26 percent) and making purchases (22 percent). Overall, however, 66 percent of consumers prefer purchasing from a retailer’s website than via their app.”
Though the national survey was small — just 309 consumers across the U.S. were surveyed — the numbers confirm that social media is changing the way we shop.
Mashable took a look this week at four startups that are revolutionizing social ecommerce. Of the four, LocalResponse’s platform seemed to make the most of mobile. The post describes the product as “a social advertising platform that aggregates public posts and ‘check-ins’ across multiple platforms to help brands and businesses identify intent and respond to it.” The important note about this company is the way it’s making use of real-time data. Mashable reports:
“Targeting data, such as behavioral, demographic or contextual, is usually approximated. LocalResponse’s platform is able to identify where someone is, when they are there, and what they are saying about it. Marketers act on the consumer’s real-time intent by converting people with exclusive offers or coupons via mobile at point-of-sale.”
According to a post at Mobile Commerce Daily, making use of consumer data to discern consumer shopping behavior on an individual and geolocational level not only will ensure a future for mobile check-in platforms, but also will be the key for brands to better connect with consumers.
Another centuries-old business goes all-in on digital
Move over Encyclopaedia Britannica. A 350-year-old post office would like to join the club of centuries-old businesses stepping up to embrace the digital age. A post at Fast Company reports that the British Post Office, established in 1660, is launching an NFC-based payment system in each of its 11,500 locations, making it the “biggest adopter of contactless payments in Europe,” according to the post. Consumers will be able to ship packages and buy stamps using NFC-enabled debit and credit cards — and they won’t even need to sign or enter a PIN for purchases less than £20.
The Fast Company post also takes a look at other mobile payment activity in the U.K., including the launch of the PayPal in-Store App, new NFC-enabled phones, and NFC ticketing.
A new problem for banks: Staying “top of wallet”
The digital disruption unsettling the retail and publishing industries’ brick-and-mortar stores may have found an additional target: brick-and-mortar banks. A study (PDF) released this week by Carlisle and Gallagher shows that mobile wallets pose a threat to traditional banking. Carlisle and Gallagher’s Peter Olynick discussed the results in a press release:
“People have already slowed their use of cash and checks in favor of credit and debit cards. Within five years, half of today’s smart phone users will be using their phones and mobile wallets as their preferred method for payments. These customers will be using better tools to help them optimize transaction choices. Banks need to proactively consider how their products will stay ‘top of wallet’ in the new mobile wallet world.”
In light of the study, financial analyst Peter Wannemacher told PCWorld that “[f]inancial institutions risk ending up as back-end funding sources for mobile wallets and payment products owned by other brands, who operate the front-end, consumer-facing aspects of the interaction and transactions.” He says that traditional banks will need to offset the convenience of mobile wallets and mobile banking by offering compelling services.
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