- Using the Power of Influence in M-Commerce
- The MUST HAVE List of Features for B2B M-Commerce
- Is M-Commerce Just an Extension of E-Commerce?
- 4 Paths to Focus on in M-Commerce
- Will M-Commerce Revolutionize Our Lives?
- Direct Sales and M-Commerce–A Perfect Mix
- Personal Predictions for M-Commerce
- Will M-Commerce Affect Traditional Retail?
M-commerce has strong features that can affect the way we look at traditional retail. Here are a few:
- Electronic coupons
- Customized promotions
- In-store research
- In-store product location
Let’s look in more detail at how these features can change retail today and how companies can adapt to them.
Electronic coupons: Several apps are already doing this type of promotion. For consumer companies, this is a perfect deal, because you attend to the right consumer at the right time, creating in them a desire to buy products faster. These can be really important for retail too, because it will increase sales in products that sometimes would not be bought if it weren’t for the promotion. Retail only needs to avoid skepticism and facilitate the use of the “m-coupon.” The only issue that need to be resolved is the logistics and the relations among the manufacturer, the app, and the retail site.
Customized promotions: The company that first understands the consumer has a bigger chance of being the future winner of retail. The most difficult aspect in promotion today is to create something that the consumer can relate to (except for the consumers that only discriminate on the basis of price). With m-commerce, companies can offer different products to make bundle promotions and even communicate a price discount — all of this being related to consumer needs creating a higher expectation of short- and long-term success.
In-store research: With mobile apps, it will be easier for the consumer to research product characteristics and pricing, so retail businesses will have to re-organize their portfolio of products. The consumer will only choose products with good price and quality. Any product out of line will tend to sell less and receive less space in the market to the point of not being there at all in the future.
In-store product location: With the number of options in retail today, it’s sometimes hard to find what you want. In the near future, retail sites will be mappped for mobile making searching for a product a lot easier.
Payment: The payment system is the feature that has the possibility to change retail even more with easier payment tending to decrease lines. Moreover, having fewer and shorter lines can increase the use of the space for more products and services.
Traditional retail will have to adapt to these new trends, and, in fact, it has a huge potential to be really profitable for traditional retail and to be a win-win situation for the consumer.