The future of mobile business might actually sound slightly appropriate in today’s context. Again and again, as smart phones penetration increases year after year, businesses certainly have to consider this huge untapped market where consumers are generally more well educated. Marketers could reach them in a myriad ways, but that does mean it is easier now to sell the products to them. According to BusinessWeek’s article, the main user group of smart phones and latest mobiles, 18-to-34-year old, are “mainly drawn by sales and promotion”. Amazingly, 24% of this age group consumers actually describes their lives as financial desperation. Most of them want to be fashion-driven and have the latest gadgets, but they are not willing and, some unable, to pay for it. Hence, here lies a huge problem for the current businesses, especially the retail businesses.
Of course, it is not as bad as it sounds. But as mobile shopping slowly taking away the share of online shopping (through desktops or PCs), businesses should really consider their primary targeted consumer groups and weigh the financial costs of offering mobile/online shopping. Serving up a platform where many people wouldn’t afford just does not sound like a good plan.
Sources:
The Future Of E-Commerce And Online Business, http://www.searchenginejournal.com/the-future-of-e-commerce-and-online-business/27002/
The Future Of E-Commerce, Sramana Mitra, http://www.forbes.com/2009/04/30/ecommerce-amazon-ebay-technology-internet-ecommerce.html
Young Consumers Pinch Their Pennies,Matt Townsend, Ashley Lutz and Christopher Palmeri, http://mobile.businessweek.com/articles/2012-03-22/young-consumers-pinch-their-pennies
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