Mobile commerce growth in Australia provides opportunity for retailers to maximise multichannel operations and increase the consumer shopping experience.
It’s confirmed: mobile commerce is here to stay. For some time it’s been clear that mobile usage is becoming increasingly more essential and relevant to the shopping experience.
Whether used to conduct valuable pre-purchase research or simply used to share consumer post-purchase joy on social media, mobile channels have experienced exponential growth in recent years. As mobile usage has grown, so has mobile commerce, with the channel now considered an essential link in the all-important multichannel strategy.
New research by Australian Communications and Media Authority (ACMA) confirms this increased use, with a recent report concluding Australian consumers are now more inclined to shop for and purchase products from their mobile devices.
Since December 2010, mobile commerce has grown by 448 percent with more than 3.4 million people having used mobile payment platforms. Consumers are becoming more comfortable with mobile devices and are using them to quickly and conveniently manage funds with money transfers being the most widely used mobile service among Australian consumers.
More Highlights from the Report:
- The increased use of transactional m-commerce was most significant for people aged 25–34 years old.
- Mobile banking and online shopping more than doubled between December 2010 and December 2013. During December 2013, 35 per cent of mobile phone internet users banked or paid bills online via mobile phones, while 22 per cent shopped online.
- During December 2013, 3.4 million people aged 18 years and over (41 per cent of the total number of mobile phone internet users) undertook a non-transactional banking activity, compared to 0.6 million (21 per cent of mobile internet users) during December 2010.
- 62 per cent of internet users went online via three or more devices—typically a desktop computer, mobile phone and portable computer.
- Don’t completely forget e-commerce for now. E-commerce sales coming from a PC are growing at a rapid pace, with traditional e-commerce sales 27% higher than sales being recorded from mobile devices.
The huge growth of m-commerce is believed to be a direct result of increased smart phone ownership, with an 8 per cent increase in smartphone owners since May 2013. Increased use of internet using mobile devices has also grown by 196 per cent in three years, with over 8.3 million active users now able to access the internet from their mobile devices. Increased availability and use of mobile phone banking and shopping applications also played a huge factor in the overall increase of m-commerce, with greater access to mobile devices and payment services available to a wider user base. The national roll out of 3G and 4G mobile phone networks have also benefitted the growth of m-commerce, with improved network connections providing superior online experiences.
The research findings are confirmed in a report recently released by Criteo and discussed in a recent Power Retail article, Use Branded Mobile Apps to Maximise Mobile Marketing. Criteo, a global technology company that specialises in digital performance advertising, revealed their latest consumer e-commerce insights in their Q1 2014 Mobile Flash report, released last week. Their research confirms the conclusion that mobile is here to stay, with consumers now relying less on PCs for internet access and instead opting to browse and purchase online using only mobile devices. Effective mobile campaigns were also found to be a powerful tool, with click through rates (CTRs) being higher on mobile devices than on PCs across most industry verticals.
The implication of both reports is the importance of optimising the mobile channel for both commerce purposes and the mobile marketing strategy. The effective deployment of a mobile marketing strategy proves to be key to effectively capturing the mobile channel, drive traffic to the site and generate greater CTRs.