Mobile electronic payment strategies could be key to future retail success
Feb 11, 2013 Dave King
As most company decision-makers probably know by now, electronic commerce sales are growing and will likely continue rising over the next decade. A recent internetretailer.com report, for instance, estimated that ecommerce revenue will total $1.25 trillion in 2013.
In response to this trend, many retailers have implemented electronic payments methods - but simply having an online payment option may not be enough, according to Tallya Rabinovich, CEO of Izzonet.com
"There are significant changes occurring in ecommerce, one of the biggest being an increasing shift towards tablet computers and mobile phones," Rabinovich said in a statement.
Many of the changes Rabinovich mentioned are already underway. According to a recent eMarketer report, mobile commerce in the United States jumped 81 percent year over year in 2012, increasing to $25 billion total in revenue. The study found that mobile electronic payments now accounts for 11 percent of all ecommerce sales.
As a result, Rabinovich stressed that for retailers to achieve successful online sales strategies, their websites "need to look as good and work as well on mobile devices as they do on PCs."
"It is important to work with someone who has a strong understanding of eCommerce design so that your store can be optimized for customer experience across platforms," she said.
The eMarketer report found that the rising popularity of smartphone and, especially, tablet shopping has spurred much of the sector's growth. The study projected that mobile commerce will jump another 56 percent year over year in 2013 - to account for 15 percent of all retail ecommerce - and will comprise nearly a quarter of all electronic sales by 2016.
In addition to these multi-platform approaches, Rabinovich suggested that companies have interactive websites, with top-notch customer service and personalized marketing campaigns.