The success of mobile commerce has grown significantly and rather quickly. In just three years, mobile has risen from three percent of e-commerce sales to 11 percent, according to a comScore report. Not including travel-related purchases, this totals to consumer spending of $18.6 billion.
Current mobile trends, including coupons, apps and catalogues, have greatly contributed to this growth, which experts predict will grow to 15 percent by the close of 2013.
How do coupons build such big results? Business Insider investigated the effectiveness of mobile commerce and how coupons are helping merchants.
One of the biggest benefits of mobile coupons is the ability to connect to consumers. Aside from offering discounts, coupons create relationships between the merchant and their customers and show that the merchant cares. Mobile coupons also increase foot traffic. Having access to coupons on their smartphones encourages customers to go to the physical store to purchase products.
Another positive result of mobile coupons is the data it provides. The increased in-store purchases using mobile coupons allows merchants to collect consumer information and better link online and offline purchaser info.
Mobile coupons have been proven to drive sales, online and in store. The Business Insider report found that mobile coupons are have a redemption rate of 10 percent, with paper coupons only redeemed one percent of the time. BI also predicts mobile coupon users will be at 53.2 million by 2014.
For the full Business Insider report, visit businessinsider.com
Source: Business Insider,