On Monday, BIA/Kelsey shared with MMW the release of a new report which explores the evolution of shopping, commerce and payments in the mobile age.
According to details presented in “Mobile Local Shopping and Payments: A Virtuous Cycle,” there are many opportunities for local media companies to integrate mobile marketing solutions and boost retention among SMBs and local merchants.
“Together, e-commerce and m-commerce only comprise 7 percent of U.S. retail spending—the rest is offline in physical stores, especially for products that shoppers want to see before they buy,” says Michael Boland, VP of content and senior analyst at BIA/Kelsey.
“Given the mobile device’s portability,” he continues, “the larger opportunity lies in mobile-assisted offline shopping. Mobile should help rather than hinder bricks and mortar businesses, becoming an important utility for shoppers and merchants if embraced in the right ways.”
The data contained in the report provides what researchers say is excellent context for four case studies, which highlight small merchants that have ventured into the world of mobile payments.
One of these merchants is Lemongrass, an Arlington, Virginia-based food truck that serves up Vietnamese cuisine and uses a mobile card reader in combination with an iPad to accept credit card payments, which account for 65-70 percent of its sales.
To learn more or to purchase the report, click here.