Mobile commerce is transforming from more than just banking, coupons, and checkout to become a more transcendent medium for all aspects of commerce. It is important to recognize that commerce is more than purchasing. Commerce starts with an impression, leading to a purchase decision, and ultimately a purchase. There is a lot of money in the entire value chain, especially considering the huge amount of advertising spent by major enterprise companies.
The convergence of LTE, social and commerce represents an opportunity for wireless communications companies, commerce companies, and enterprise of all types to provide value-added solutions for retail customers to realize benefits across the entire advertising-to-purchase spectrum. Solutions include Smart Shopping, Online-to-Onsite (O2O), and more.
The primary objective of most solutions is to leverage mobile communications and applications to enable retailers sell more efficiently and effectively. Retailers recognize that sales traditional sales model is broken and that modern culture increasingly relies upon technology for the purchasing process to be more rewarding (less expensive, better decisions, entertaining, etc.). Accordingly, retailers of all types need to leverage the anytime, anywhere nature of mobile communications to combat online-only stores such as Amazon and others.
This report provides information for the reader to understand Fourth Generation (4G) cellular broadband, social networking, and commerce. More specifically, this research provides an understanding into the profound importance of their convergence and the solutions that are spawning as a result. These solutions will become increasingly important to retailers of all types but especially the so-called “Big Box” retailers who are suffering from cultural shifts towards online.
- Big box retail stores
- Retailers of all types
- Advertising agencies
- Social media companies
- Handset manufacturers
- Mobile network operators
- Mobile commerce companies
- Online consumer products portals
Mind Commerce Publishing's research methodology encompasses input from a wide variety of sources.
We rely heavily upon our Subject Matter Experts (SME) in terms of their market knowledge, unique perspective, and vision. We utilize SME industry contacts as well as previous customers and participants in our market surveys and interactive interviews.
In addition, we rely upon our extensive internal database, which contains modeling, qualitative analysis, and quantitative data. We review secondary sources and compare to our primary sources to update previous findings (for prior version reports) and/or compile baseline information for technology and market modeling.
We share preliminary models with industry contacts (select previous clients, experts, and thought leaders) to verify the veracity of initial modeling. Prior to final report production (analysis, findings, and conclusions), we engage in an internal review with internal SMEs as well as cross-expertise, senior staff members to challenge results.
We believe that forecasts should be prepared as part of an integrated process which involves both quantitative as well as qualitative factors. We follow the following 3-step process for forecasting.
Step 1 - Forecasts Input:
The inputs for the present and historical revenues are derived from industry players. Financial and other quantitative data for individual sub-market categories are derived from original research and tested with interviews with major industry constituents.
Step 2 - Forecasting of Future Years:
Mind Commerce extends forecasts based on a variety of factors including demand drivers as well as supply side data. Key success factors and assumptions are considered.
Step 3 - Validation of Data:
The final step is to validate projections, which is accomplished in consultation with both internal and external industry experts, including both topic and regional experts. Adjustments are made to the forecasts based on factors identified throughout this process.