Wednesday, March 21, 2012

What Drives M-Commerce Purchases?

Consumers don’t engage in m-commerce nearly at the rate you’d expect them to, considering they’re using their phones for all sorts of activities, according to a recent survey, such as:

56% of respondents were expecting to use their devices for shopping-related activities this holiday. More than a third (38%) will likely use the device to find store locations, 34% to compare prices, 28% to research deals or find coupons, and 27% to get product reviews.

How to get consumers over the hump of information-gathering to purchase? Well, their reticence may be melt… if there’s a deal in it for them!
In a survey of 1,000 U.S. consumers, 62% said they were willing to use their cell phones to make a purchase if offered an opportunity by coupon, discount offers, text alerts, gift cards or loyalty points.The actual impetus to buy by mobile device, however, does plummet without a direct incentive or prompt, as only 22% said they would make a purchase on their devices.
Not only are poorly designed m-commerce experiences holding consumers back, but expecting consumers to pay using payment methods they always have doesn’t work.

Generally, consumers remain unsure as to which mobile payment options are available, let alone reliable and trusted. The survey asked what m-payment solution might increase their use of direct m-commerce. A quarter said that a payment solution tied to their own financial institution would encourage their greater use of mobile payments, and 22% would be encouraged by PayPal availability. Only 18% said the presence of a credit card solution would persuade them to use mobile commerce.

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