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Service Providers Cash In On Mobile Retail Opportunities
The increased adoption of smartphones is a major driver behind the mobile retail and mobile payments trend. Many experts indicate that about 50 percent of the world's population will have a smartphone by 2014. Once smartphone users begin relying on their phones for more than calls, they begin incorporating other services and apps, and they demand more functionality and features from the phone to make their lives easier.

Studies show that about 11 percent of U.S. retailers are providing coupons and marketing to their customers' mobile numbers. Another 11 percent are providing coupons and marketing based on their customers' locations. Most telling, however, is that more than 60 percent of retailers in the study indicate they plan to build upon their existing mobile Web presence or launch a new application in the next year.

Mobile retail and payments vendors are developing and introducing new solutions at an impressive pace because retailers and consumers show interest in the technology. Retailers recognize the consumer convenience factor, with customers able to research and compare prices while in the store, as well as make quick, secure payments. They are also eager to gain greater insight into customers' spending habits to better stock merchandise and stay competitive.

Consumers are eager to try mobile retail and payment options, as well. Those consumers in emerging markets that primarily rely on cash want the added protection and convenience of paying with a mobile phone. Consumers in developed markets want the convenience of not carrying credit cards, and they like the added benefits of storing and using retailer loyalty cards and credits without carrying an additional piece of plastic.

Some figures place the current worldwide global mobile payment volume at around $60 billion, with projections by 2014 indicating it could grow to more than $1 trillion. As for the benefit to service providers, global mobile payments will account for between 3 and 5 percent of their volume, making it an attractive market opportunity for providers.

As service providers continue to seek ways to differentiate their services and create value-added services that build customer loyalty, they should investigate and invest in mobile retail and mobile payment solutions to do so.

Service Providers Cash In On Mobile Retail Opportunities examines the mobile retail market and how it is expected to develop over the next two years. It examines opportunities that service providers have in the market, including areas with the most growth potential for the next 24 months and what service providers should be doing to take advantage of the market. It includes a comparative analysis of solutions available in the market. It also examines the geographic landscape of the market for service providers, challenges the industry presents and trends expected in the mobile retail vertical.
Sample research data from the report is shown in the excerpts below:
Table of Contents (mni0911_toc.pdf)
Over the next 18 months, demand for mobile payment services will continue to increase, as carrier rates decrease and more merchants accept mobile payments. This in turn will drive demand for virtual goods and services, digital goods and physical goods. The excerpt below shows the expected growth over the next 24 months in market sectors for mobile retail, based on estimates from technology providers.
[click on the image above for the full excerpt]
Companies analyzed in this report include: Billing Revolution Inc.; BOKU Inc.; Cellit LLC; Intuit Inc. (Nasdaq: INTU); Micros Systems Inc. (Nasdaq: MCRS); Mocapay Inc.; Obopay Inc.; and Wantlet Inc.
Total pages: 13
To view reports you will need Adobe's Acrobat Reader. If you do not have it, it can be obtained for free at the Adobe web site.
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