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FitForCommerce in the New York Times

Posted on January 4th, 2011

newspapers When the gray lady came calling, looking for our view on mobile commerce this holiday season, our experts were, needless to say, happy to oblige.   Three of us spent almost an hour with Verne Kopytoff, a New York Times business technology reporter, discussing mobile shoppers – who they are, what they are looking for, how they use mobile commerce.

Some points we covered with him were:

  • Retailers need to understand the “mobile moments” – where your shopper is and what he’s trying to accomplish at various points in time
  • Mobile commerce will depend, to a large extent, on what mobile phones and carriers allow: bandwidth, battery-life, pricing plans
  • Conversion of mobile sales is far better than typical online commerce; shoppers are primed and ready to buy
  • Mobile real estate is tiny, so retailers must reduce their product selection
  • The US is significantly behind Asia, where cell phones are their “wallets”
  • Apparel is the most advanced vertical, but luxury apparel lags behind
  • Shopping surge is 6-9pm; people interact while watching TV (particularly shows on the Food Network, Bravo and Shop.NBC)
  • Mobile retail is poised to get to 5% of retail sales in half the time that it took online shopping.

Stay tuned for our Mobile Commerce Benchmark and Guide.

To read the NYT article, click here.

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1 Comments so far ↓

  1. CandyNYC says:

    A very interesting and insightful post!

    I think another thing to consider is how the mobile user interface factor evolves, whether companies will invest in apps or mobile sites. There are some apps that offer such a smooth and engaging experience, in addition to some fantastic mobile functionality, but will consumers be bothered to download an app? Are businesses going to have to replicate apps across all the different mobile platforms? An obvious solution would be to build a great mobile site that is accessible from any phone however, in my opinion, there is such a huge void between apps and mobile site in terms of user interface.

    If you download the Patagonia iPhone app and compare it to many of the out-of-the-box mobile sites, such as Tory Burch and CandyWarehouse, the difference is painfully clear.

    Either way, there is a long way to go for mobile commerce but it’s obvious to see that there is gold at the end of the rainbow. A lot of what is out there at the moment is just replications of e-commerce sites on a phone. I really like the idea of these ‘mobile moments’, maybe it’s a case of creating a unique mobile interface that caters specifically to your consumer’s mobile moment.

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