Analysts project that the mobile commerce market will reach $31 billion by the end of 2017. As this growth takes place, we can expect to see more than a handful of major retailers battling for their piece of the pie.
Although most retailers understand the importance of mobile and have started investigating ways to engage their customers, many have not used the medium to its full potential.
Smart retailers are finding that it is becoming less about replacing the in-store shopping with mobile commerce, and more about bringing together all channels to create one great customer experience.
By year’s end, more than half of mobile phone users will have smartphones. More interesting is that 93 percent of smartphone users use their phones inside the home, per Google.
The average marketing budget today commits around 15 percent to digital – the majority of which is still via PCs. And for CPG and physical stores, it is a mere 2 percent. Why the discrepancy?