Mobile devices have had an unprecedented impact on the way consumers discover, interact with and buy products and solutions. Today, a revolution is sweeping across the retail industry and the impact of this is on par with the changes that the introduction of plastic payments made to the retail industry in the 1950s or to the launch of the Internet and e-commerce in the early 1990s.
Payment facilitators including PayPal and Visa are predicting huge changes in the way that we will pay for services and products soon. Paypal predicts that we will no longer use physical wallets by 2016. Visa Europe predicts that 50% of all its transactions will be made via mobile by 2020.
According to eDigital Research, retailers are already reporting that up to 12% of their traffic comes from mobile channels.
While the sudden impact on business models in the Internet retailing era caught many retailers unaware, they know that they need to move quickly with mobile retailing to stay ahead of the curve.
Another huge change introduced by mobile retail is a need for retailers to cater to and fulfill individualized preferences as personalization is now at the n=1 level. Retailers need to be able to respond with super-targeted marketing while enabling their customers to buy what they want, when they want, and where and how they want it.
At Sasken, we understand the challenges that retailers will need to overcome to render their products and solutions truly mobile. Our strong understanding of the mobile space as well as deep investments and experience in this domain will ensure that retailers identify and adopt the best approach and outlook to address their consumers with custom built solutions as well as industry grade platforms and offerings.
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