2014 has already been a “watershed year” for mobile commerce, but there are billions of pounds worth of revenue still to be won or lost over the Christmas period.
According to the founder and CEO of e-commerce firm Powa Technologies Dan Wagner, retailers with a weak mobile strategy will miss out on the combined £1.3 billion online sales predicted for Christmas and Boxing Day.
Research by retail association IMRG and information services group Experian predict that sales will peak at £519,000 being spent per minute on Boxing Day across 167 million retail outlets. The study confirms that mobile devices such as smartphones and tablets are likely to make up a major proportion of these sales.
Dan Wagner believes that retailers now have a duty to make online shopping not simple convenient, but as enjoyable as possible.
“Shoppers now see hunting for bargains on online and mobile sites as a fast, fun activity to dip into anytime, and retailers must be equipped to make the entire process as easy as possible”.
In particular, speed and ease have also become key factors for physical retailers, with many shoppers needing to fit their purchases around their busy lives. Many shops are expecting a surge in business between 1pm and 2pm today as consumers look to buy those last minute Christmas gifts.
“Avoiding crowds and long lines at the tills is a major factor in the growth of online sales, and the traditional checkout system can turn the retail experience into an incredibly tedious one,” Mr Wagner added. “Retailers must explore ways to combine their bricks-and-mortar and mobile strategies to bring the same level of ease and flexibility to their stores, regardless of how busy they are.”
Alongside PowaTag, which lets consumers buy products direct from an advert, a number of other mobile payment solutions are expected to become more popular, including Apple Pay.