Let’s take a moment to deeply digest the real power and impact of the mobile internet on humanity.
For 2017 the number of mobile phone users is forecast to reach 4.77 billion – Statista
As of Nov 2017, WhatsApp has 1.3 billion users and WeChat houses a billion.
Mobile Commerce sales have more than quadrupled past six years, from $56B in 2014 to $242B in 2020 – Statista
Pinterest, a social commerce App gets 80% traffic from its mobile channel, indicating the strong link between social media, commerce, and smartphones – Venture Beat
American Airlines mobile-based sales might hit one billion dollars shortly, ~ 35% of their total bookings – McKinsey
Fundamentally, mobile has created new channels and marketplaces in retail, communication, banking, travel, and media that never existed before, making the consumer lives, spending, and experience much easier than before.
The willingness of consumers has increased to spend on mobile devices because the trust deficit which existed earlier has now been settled. The strong indication of why and how new market needs have been leveraged with the help of smartphones.
Radioshack sells smartphones, and today these devices that have mobile commerce apps are giving a tough time for the electronics retailer.
Google classified consumer’s mobile behavioral intent into four primary use cases:
- I want to Do moments
- I want to Know moments
- I want to Go moments
- I want to Buy moments
Researching, searching, chatting, emailing, watching and sharing videos, listening to music, browsing, shopping, purchasing, paying bills, ordering food, sharing pictures, getting rides, liking comments, reading news, applying for a job, dating the list is endless.
As of October 2016, mobile and tablet internet usage has surpassed the desktop for the first time.
Mobile has changed the way we humans fundamentally live and function daily, which makes it the biggest disruptor in retailing and the commerce business.
Here is a deeper case study from ThinkWithGoogle, describing Arthur’s journey, who is planning on a cruise with his wife.
Arthur is a 66-year old man from Missouri, who sometimes relies on a travel agent to book his flight but also sometimes does all the research and decision making on his mobile device.
Data point: Arthur had 250 interactions online, almost 50% occurring on mobile.
Key Insight: Consumers have become mobile-first. The world is going mobile-first.
All consumer touching businesses must think about providing rich mobile experiences in search, content, commerce, ads, texts, messages and promotions.
Fact: We live in a mobile-first world, catch your consumer’s eye-ball on the mobile device.