Consumer confidence in m-commerce hits all-time high | Mobile Payments | Mobile Entertainment

Consumer confidence in m-commerce hits all-time high

Consumer confidence in m-commerce hits all-time high
Daniel Gumble

by

Payments / Commerce / January 30th 2013 at 11:00AM

New BuzzCity report shows that consumers more willing than ever to shed the shackles of security concerns in order to tread the mobile path.

The uptake for m-commerce by consumers is now at its strongest, according to today’s BuzzCity report on the current trends leading the international mobile advertising industry.

There has been something of a sea change in the attitudes of consumers towards m-commerce over the past 12 months. Previously, one of the key areas of concern for many was around the issue of mobile payment security.

However, these fears seem to have been significantly diminished over the past year, with just three per cent of consumers admitting to fears over payment security, as opposed to 27 per cent 12 months previously.

Commenting on this shift in attitudes, Dr KF Lai, CEO of BuzzCity, told Mobile Entertainment: Consumers are getting far more comfortable with using their mobile for purchases, as the fear around security issues has clearly subsided. People are now far more comfortable with using mobiles for things like app purchases, which means most mobile users have bought something using their device.

“This comes as a result of continuous education by the mobile industry to overcome concerns such as trust and security, combined with falling data costs and increased capabilities of smartphones and tablets.”

BuzzCity’s research also illustrates how shoppers are utilising their phones to ‘browse and buy’. Search engines and social media proving to be a key source of information, while 14 per cent are using review and comparison sites, and 17 per cent look to their friends for recommendations. 

However, mobile advertisements are still significantly influential when it comes to purchasing, with 17 per cent claiming to have been persuaded to buy via an ad. 

Meanwhile, the report highlights the element of convenience as a major factor when it comes to mobile purchases. Its findings show that 74 per cent of consumers use their mobile for last-minute purchases. This is linked to the growing prevalence of mobile vouchers and QR codes to drive people to connect mobile with the offline world.

Elsewhere, BuzzCity’s research looks at the impact that increased consumer confidence has had what on people are buying, as consumers are increasingly purchasing physical items, as well as digital products. Furthermore, sales of  physical items could soon outstrip digital as the key products driving mobile commerce in the UK (56 per cent), the US (37 per cent), South Africa (33 per cent) and Nigeria (35 per cent).

Dr KF Lai noted: “Mobile is now the first screen for many. Our research shows that there are many influences involved in consumers’ decisions when shopping via a mobile device. Marketers must ensure that they put strategy before tactics and take into consideration user behaviour as well as multi-screen viewing. Any brand embarking on global campaigns should bear in mind that consumer reliance on these services can differ greatly by region, and merchants need to understand these cultural nuances by localising content strategies and apportioning resources accordingly.”

To view the report in full, please visit http://www.buzzcity.com/f/bcreports

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