The future of commerce and a Google Wallet resource for US retailers

Psychological_medchanisms_behind_social_shopping
A really extensive review of the future of commerce - very timely given the launch of Google Wallet this week.

If you are a US retailer make sure that you are Google Wallet ready - check out this resource to help you.

 

THE FUTURE OF COMMERCE: REAL R.O.I. INSIDE
ADDITIONAL RESOURCES
This week in the UK, New Look is reported to have seen orders from mobile users increase by 60% in the three months to July.

The results came after the high street fashion retailer paired with Mobile Interactive Group (MIG) to launch its first mobile-commerce site in April.

Since then, revenue generated by mobile users visiting New Look’s web properties increased 45%, with the number of mobile users visiting its site having increased 800% during the year to July.

New Look also partnered with Responsys to drive traffic to its m-commerce site by targeting users who open their emails on their smartphones in a campaign that generated a 300% increase in click-through rates.

NMA reported that earlier this year, the Direct Marketing Association in the UK released research indicating that retailers were generally behind consumer demand for m-commerce.
One study, published in June 2011 by Direct Marketing Association (DMA) in conjunction with Empirix of over 3,900 consumers, indicated that 82% of respondents wanted to buy products via their mobile phones. Despite 82 per cent of shoppers saying they want new mobile services, only 42 per cent of businesses say that they have a mobile strategy and 14 per cent of organisations state that they have no plans to put a strategy in place. Of those with or looking at a mobile strategy, 75 per cent siad they were unsure of how to deal with the cross channel impacts in writing a business case for mobile.

Retailer marketing research - are you aware where people research before making a purchase?

Media_httpstaticcompe_kigvi

With the Christmas shopping season approaching if you are a retail business are you aware of how consumers are researching BEFORE they make a purchase?

Compete.com recently published some research which indicated that if people are making a purchase of over $100 then 81% of them will research before making a purchase.

The chart above demonstrates where people are researching - a few specific points to note for retailers with a bricks and mortar business are the importance of search engine optimisation and having an email newsletter.

Additional resources that you might find of assistance if you are a retail business are the following:

-- The Compete Retail Blog

-- The Compete Online Shopper Intelligence Study articles:

February 2010 article

January 2010 article

-- The Insight Driven Retail Blog from Oracle

What other resources do you find of assistance in relation to digital and social media marketing for retailers?