Mobile Money Makes for Savvy Consumers

  • By Vince Kadar
  • Thursday, April 11, 2013

A recent article on the Practical eCommerce site, 7 Ways Mobile Commerce Will Change Retail took a look how mobile commerce is transforming e-commerce and how it may just change how we shop.

While the article outlined the many ways mobile commerce is a game changer, there were a couple in particular that really stuck out. While the sheer convenience of mobile payments for consumers are obvious, the empowerment that mobile money, and commerce in general gives consumers isn’t right at the surface.

In short, mobile commerce is going to make for much more savvy consumers as they can easily comparison shop on the fly, use apps to make those comparisons and be in the know when it comes to shipping, or other perks. Another key element of this is consumer’s access to information from peers becomes a lot more relevant. Most online shoppers now look at the reviews before they buy, but as mobile commerce improves this will be even more prevalent as you can literally stand in a store and read reviews before you buy.

For retailers, big changes are coming with consumers who are even better educated about the items they are buying and the unique benefits of each offering available on the market. So while they assess the power of mobile money, they need to carefully examine all aspects of the equation because payment simply won’t matter if they can’t stand out from their competitors when it comes to comparisons, reviews and more.