Mobile commerce represents significant business opportunity
With the proliferation of mobile devices, it has become easier than ever for consumers to research products and purchase them directly from their smart phones and tablets. According to a study by eMarketer, roughly 25 percent of retail transactions will take place on mobile devices by 2017.
Phil Carter and Patricia Nakache of Trinity Ventures discuss in an article how mobile commerce, or mCommerce, presents a significant opportunity for innovation in the retail sector. Noting timing as a key factor in the success of a new mobile business, they offered some insight that companies in mobile may want to pay attention to.
According to the authors, smart phones will make it possible for the next $100 billion venture-backed company (referred to as a "super unicorn") to come to fruition. They offer a prediction for the future of mCommerce that is worth noting.
"By 2020, smartphones and tablets will account for more than 75 percent of global online commercial transactions and more than 50 percent of spend. And the world's first mobile super unicorn won't be an audience company like Facebook or Google, but a commerce company like Amazon. When tech historians look back on the 2010s, they will remember it as the mCommerce decade."
Businesses that are looking to take advantage of this opportunity are advised to get to know the mCommerce landscape, which includes services like mobile retail, mobile payments and on-demand services. These types of technologies allow consumers to use their smart phones to complete retail transactions, and there are many opportunities for companies to create technologies in these areas.
When it comes to an acquisition strategy, timing plays a significant role. Companies that are able to catch on to an innovative idea before the rest of the market does stand a chance at reaching a high level of success. An M&A advisor can help your company determine a strategy for success.