Confidence in mobile commerce is on the rise with almost half (42%) of online consumers completing financial and travel purchases via smartphones and tablets and over half (54%) booking hotels via mobile devices, according to a joint study by Unique Digital and YouGov.
The study, which reviewed consumer use of apps for booking hotels, car hire, banking, purchasing insurance and flights found the development of mobile has resulted in a quarter of consumers now completing a quarter of consumers will turn to their smartphone or tablet when finalising a purchase. Previously an apparent lack of confidence in mobile payment systems led to many consumers buying on a desktop or tablet, and even researching on mobile and purchasing in-store.
Phil Stelter – managing director of Unique Digital – remarked on the latest IAB figures, which he believes reflect the growing importance of mobile.
“Our research shows that we are at the start of an all-commerce age: terms such as Ecommerce and Mcommerce are set to be consigned to the dustbin of history. The days of consumers just researching items on mobile devices are gone: purchases are being completed on the same device with increasing regularity now”`
Demand for instant transactions
“With the introduction of Apple Pay and companies releasing first generation NFC payment technologies, online and offline purchase behaviour will converge as the customer begins to determine which POS they prefer” continued Stelter
The number of online consumers using mobile devices for researching and purchasing products now exceeds those who use them solely for research and, when it comes to apps, consumers are demanding convenience, most notably ease and speed of use.
Increased spend on mobile advertising
With companies such as Rubicon and Inmobi claiming mobile click rates are now six times higher than desktop, the performance of mobile ad campaigns is growing at an impressive rate.
“Brands need to take advantage of this trend by focusing on the data collection that unifies their understanding of a new mobile consumer” said Stelter, adding companies should focus on campaign planning that delivers messaging and experiences which don’t try to dictate how consumers should interact with brands.
Consumer confidence in mobile purchasing has been a key factor in the rise in mobile advertising spend in the last year, up 68% according to the latest IAB figures, and with brand marketer budgets surging 142% between 2011 and 2013, mobile advertising is currently the fastest growing component of the advertising industry.