Mobile shopping is on the rise, with more and more consumers using their smartphones to research and buy products. Some mobile shoppers use their phones while in-store, in order to compare prices and find product reviews. This trend will likely continue as mobile devices become even more ubiquitous. However, mobile shopping is not without its challenges. For retailers, it can be difficult to keep up with the latest trends and ensure that their mobile offerings are best in class. In addition, there is always the risk of fraud when customers input their payment information into their phones.
Mobile shopping is here to stay, with 92% of consumers saying that they would continue to use their mobile device in-store to help them secure the best deal, according to Klarna’s recent Mobile Shopping Report.
“Consumers are increasingly mobile-oriented when it comes to how they shop and engage with the brands they love. They are not just using their phones to shop online — they’re also using them in-store to research products, search for price comparisons, and more,” says Raji Behal, head of US Partner Success with Klarna.
Shopping online has become increasingly popular in recent years, as people have become more comfortable making payments and storing digital cards online. There are a number of advantages to shopping online, including the ability to compare prices, read reviews, and track orders. When it comes to payments, 73% of shoppers embrace digital cards for online shopping, and that number is higher among millennials at 81%.
According to Behal, “”This preference towards mobile is driving significant behavioral changes among consumers, who can access the world at their fingertips and are therefore demanding greater convenience and flexibility while shopping.”
Overview by Don Apgar, Director, Merchant Services Advisory Practice at Mercator Advisory Group