Mobile In Retail – According to the report analysis, ‘MOBILE IN RETAIL – THEMATIC RESEARCH’ suggests that the online market is set to be the fastest growing area of retail within the next five years and spend via smartphone is rising rapidly as consumers continue to turn to their convenient handheld devices to complete everyday tasks. Many company and market players have introduced functional app and mobile optimized websites to ensure the mobile shopping experience is user friendly and seamless in order to drive conversion despite the screen size being much smaller than most desktops or laptops. Not only has this, many key players are taking advantage in this market which includes Alibaba group, Amazon, JD.com, Best Buy, ASOS Shop Direct, Otto group, Suning Electronics, Apple, Home depot, Tesco and others. Whereas, mobile retail is a type of retail market in which many key players can easily establish their business operations without investing huge capital or maintain huge inventories in order to meet increase in the demand from various customers.
In the Market of mobile in retail numerous number of major players are currently working throughout the globe, whereas some of the essential key players possess financial capabilities are able to aggressively expand in this domain. Additionally, online pure players such as Amazon and ASOS have implemented useful functions within their apps such as the ability to pay via Google Pay on ASO’ android app and push notifications to inform customers of updates to their orders on amazon’s app. The consumers can instantly open their Smartphone and look up for the product they wish to buy rather than moving to a store for a physical inspection of products. Hence, smartphones have brought appreciable facility into the inhabit of both the consumer as well as the retailers. The entrance of smartphones in the market has been increasing rapidly throughout the globe due to decrease in the cost and improvement in the technology which allows more and more users to easily use these devices. Easy usage of smartphones and decrease in prices of latest new smartphones are the growth drivers for the retail mobile phone market.
New innovations and development in the old processing units transform the market trend and completely change the industry of mobile retail and furthermore will lead to a simultaneous increase in the mobile retail industry. Moreover, development will welcome the new companies in the market which are having the potential of perceiving an Omni channel platform where a consumer who wants to buy smartphone can easily buy all types of goods and services which is driven by multiple factors which includes improved adoption by buyers for sales completion and improved mobile functionality for retail users.
With the entrants of new companies the market would have to bring in new innovation, change the overall penetration of smart phones which lead competition in the market and enhance the consumer experience and which further more increase number of firms in this industry which change the landscape of mobile retailing industry. Therefore, the future of this industry is expected to grow in the coming years.
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Ankur gupta, head marketing & communications