The Connected Consumer and the
Future of Mobile Commerce
Everyone is talking about the mobile Internet and how more and more consumers are browsing and using lots of apps anywhere they and their mobile phones happen to be. Are cell phone owners also becoming more comfortable buying things with their phones? If not, what would make them more likely to shop with their phones? This Retrevo Pulse Study looked at consumers and mobile commerce and found many willing shoppers ready to make purchases with their phones.
Consumers Are Warming to Mobile Commerce
In February of 2010, a Retrevo Pulse study found almost 10% of the respondents indicating they had purchased something with their cell phones. Four months later, with a different sample, that number had doubled to 20%.

The bad news is that a little less than half the respondents have never purchased anything with their phone and have no plans to do so in the future. The better news is the 27% that haven't bought anything yet but indicate they will in the future. That leaves about 20% who purchased something through their phone.

Apps Make Shopping Easier

Apps make everything so much easier and more fun, and that includes shopping. Retrevo found that nearly 42% of those who have shopped with their phones said they have used apps to make purchases. When we looked at gender and smartphone owners we weren't surprised to see male mobile shoppers outnumbering females and iPhone owners leading the pack.
Credit Cards Might Be Getting in the Way
Note to retailers: if you want more sales from mobile customers, make it easy for them to store their credit card info and while you're at it, keep your eye on retailers like Amazon with innovations like PayPhrase or Mobile Payments Service that might take some of the friction out of online or mobile transactions.
Visa vs. Verizon
If retailers can't get the credit card out of the way, how about the carriers? Will we see AT&T or Verizon get into the mobile payment business? The idea seems to be popular in Japan where the dominant carrier, NTT DoCoMo offers a “mobile wallet” with their handsets. And what about Apple or Google; they're building huge collections of credit cards. Will we see an Apple Bank spin out of the iTunes Store?
Mobile commerce is here and gaining ground fast as mobile devices and apps make it easier for consumers to press the "buy" button. Despite its growing popularity, we have to wonder if consumers might be apprehensive about transferring credit card info using their phones. If retailers want more business from smartphone toting shoppers they'll need to improve the process.
Shopping On-The-Go?
Coincidentally, Retrevo Has a Mobile Shopping Service called RetrevoQ, Anyone can send a tweet or SMS text message to Retrevo's mobile shopping service and get back a message telling them whether or not it is a good deal and what would be a fair price to pay. Click Here to learn more.
About Retrevo Pulse Report
The Retrevo Pulse Report is an ongoing study of people and electronics from the consumer electronics shopping and review site Retrevo.com. The data for this report came from a study of online individuals (non-Retrevo users) conducted by an independent panel. The sample size was over 1,000 distributed across gender, age, income and location in the United States. Most responses have a confidence interval of 4% at a 95% confidence level.

For more information contact:
Jennifer Jacobson
Director of Public Relations
press "at" retrevo "dot" com

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