03 05 2014

03 05 2014

Tablet Payments Soar As Mobile Makes Big Gains

As the consumer marketplace continues to take to mobile technology in virtually every sector, tablets are carving out a place of their own in the hands of customers. In 2013, tablet payments soared, for the first time making up more than 50 percent of all mobile sales, a new report found.

According to the Javelin Strategy & Research report, “Mobile Payments Market: Tablet Payments Surge as Overall Mobile Retail Sales Top $60 Billion,” in 2013, tablets were the source of $28.7 billion in ecommerce sales, outstripping mobile phones – which accounted for $27.9 billion in mobile sales – for the first time. Furthermore, the 2013 tablet sales figure was five times higher than 2012’s $5.1 billion.

Study finds mobile taking over ecommerce

According to the report, ecommerce sales have been bolstered by increased ownership of mobile devices – tablet ownership has doubled since 2012. Small and large businesses alike have benefited from adopting mobile ready technology and business tools, which can help a company bring in more revenue. Consumers, the report said, are changing the way they shop, beginning with the devices they use to make purchases.

“Mobile consumer purchasing habits are evolving from purely app- or browser-based purchasing toward both methods in tandem,” said Mary Monahan, Javelin Strategy & Research executive vice president and research director of mobile. “While functionality should differ between the two methods, it is also critical for vendors to ensure that the user experience is similar for both methods so that crossover is frictionless. Similar visual elements and layouts should be used to simplify the process and build a recognizable brand experience.”

Companies that neglect to adapt to mounting technological changes may soon be left behind, outperformed by competitors with better and more efficient user experiences. Businesses that are ready for the mobile revolution, on the other hand, who are prepared with up to date business equipment and mobile ready websites, can provide customers with easy shopping experiences. Organizations that are prepared, the report said, may find themselves faced with more opportunities than their less tech savvy counterparts.

Report shows consumers expect quality mobile experiences

Another report regarding the role of mobile technology in business found that not only does mobile affect sales, but also that consumers increasingly expect a strong mobile experience from retailers around the globe.

According to research from ExactTarget Marketing Cloud by Salesforce, while 83 percent of consumers said they want a “seamless experience across devices,” 54 percent of those surveyed said current mobile website content does not live up to these expectations and that information found on these sites is often lacking.

“Consumers are using smartphones as the dashboard to their life, operating in a mobile first world with a level of connectivity that is unprecedented,” said Michael Lazerow, chief marketing officer of ExactTarget Marketing Cloud. “Today’s hyper connected consumer requires companies to create personalized experiences and deliver value at each touchpoint to increase brand loyalty and drive sales.”

The “2014 Mobile Behavior Report,” which surveyed 470 consumers and gathered mobile usage data, also found that for 85 percent of respondents mobile devices play a central role in their daily lives, while more than 90 percent of customers said being able to access web content on all their devices was “somewhat” or “very” important.

Small business leaders may be interested in changing their operating plans to use smarter technology. Updating business tools, computers, mobile devices or investing in website compatibility with smartphones and tablets can all help move business forward. Furthermore, presenting a unified and tech smart front is good for a company’s reputation, as they can stay ahead of competitors and increase web traffic. Those interested in expanding their reach and improving their organizations should contact National Funding for more information on equipment leasing options and other financial opportunities.

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