DEFINING THE FUTURE OF COMMERCE
It is a great time for mobile commerce as the rapid development shows no signs of slowing down. Business insider predicts that mobile commerce will make up 45% of total e-commerce, equaling $284 billion in sales by 2020. This growth makes it very attractive for new
competitors to enter the market with their disruptive business models, making the payment
world more and more challenging.
But who is pushing this development? We believe it is the customer as they strongly know what they want and expect a great shopping experience. The bottleneck here is the retailer, who is still struggling to deliver the digital transformation of financial services and adapt to the changing consumer behavior. A big problem for mobile commerce remains conversion as mobile checkouts are not as smooth as they should be and people tend to remember a bad checkout experience.
A big question is whether a mobile website or a mobile app is the right way to go. Many believe apps are the way to go but there are a lot of challenges to good execution. At the moment, most channels lead shoppers to their mobile browser, indicating that that is the place where the money is being made. According to Moovweb, only the leaders with the biggest reach (Target, Amazon, Walmart) have been able to get enough regular usage on their mobile apps in order to outpace their traffic and purchases on the mobile web. Only a small subset of shoppers has been willing to dedicate space on their smartphone or tablet to a retailer’s application. Whether you choose to go for a mobile website or an mobile app, it is in the end all about making sure you build a solid mobile presence that better engages the highly active mobile customer base and provide them with fantastic user experience.
MCP2017 will be tackling the major issues retailers are facing in this fast changing world of payments. We will focus on what the changing environment means for retailers and how they can finally benefit from this rapidly growing market. We will continue to define the future of commerce for retailers by creating the platform for future cooperation with financial institutions, fintech, consultants, wallets and technology companies.
Do you want to find out how to tap into your consumers by listening to leading experts from both the online and physical world of retail technology? Join us in January!
Stephen Brogarth, Project Director, Copperberg
Maaike Gerritse, Editorial Director, Copperberg
Download the agenda for Innovative Mobile Commerce&Payments 2017 as a PDF file:
MCP 2017 Agenda.pdf