The retail sector is flat, but mobile commerce is growing rapidly. So why are Australian retailers so slow to embrace the opportunity?
PayPal says the value of their mobile payments grew 14-fold last year, to reach $42 million. The smartphone has had a big part to play here; according to Nielsen, 63 per cent of us now have internet-enabled mobile phones.
Yet, even though Australians have been quicker than most to take up 3G phones, our retailers have been slow to embrace the mCommerce opportunity. Overseas, major brands have realised that this is the next big phase for online sales. For example, check out the UK TV advertisement for Tesco's Grocery Shopping App.
The mobile phone is taking online commerce to the next level — it's convenient, personal and will probably replace the need for us to carry cash or a credit card. So why are Australian retailers ignoring the opportunity? Most don't even have a mobile-optimised website.
On this week's Twisted Wire you'll hear from:
Running time: 31 minutes, 31 seconds.