Congratulations everyone, we’ve set a new record. On Cyber Monday, online retail sales rocketed to over $1billion for the first time ever, the heaviest online spending spree in history.
So…did you do your online shopping on your laptop or PC, or did you break with tradition and do it on your mobile?
Even though m-commerce truly hit the retail scene this year, with plenty of new m-commerce sites and apps, surprisingly few retailers have managed to harness its sales potential properly in time for the holiday season, which could result in a poor rather than merry Christmas for many and one heck of a New Year’s hangover.
Indeed, in the UK the aptly-named ‘Sock Report’ - compiled by an integrated mobile comms specialist – revealed that only 16 out of 57 top UK retailers actually had a mobile application, and of these 16 only nine could actually process a transaction. During the experiment, all they were trying to buy was that staple Christmas present of a pair of socks.
If retailers really are this slow to embrace the technology we all have at our fingertips, it’s perhaps a little optimistic that some reports here in the US are predicting that m-commerce will account for at least $127billion – or 28 per cent – of the predicted spend this holiday season.
After all, any retailer can produce an app, but we don’t want showy shop windows, we want to be able to browse and buy without hours of frustrated finger-swiping.
Mobile technology allows us to shop and spend where ever we are in the world. We don’t have to be confined to a laptop or PC anymore to shop online, indeed Morgan Stanley are predicting that mobile will overtake fixed line internet access by 2013, and industry analysts are betting that m-commerce will gain faster market share than traditional online shopping.
So what’s the New Year’s resolution for 2011? If you’re a retailer, then you’d better get your fingers on the touchscreen pulse of how your shoppers actually want to buy. At StrawberryFrog we are building mobile into our Cultural Movements. After all, you want to give your customers what they want, right? So do we.