The mobile retail market is anticipated to exceed $12 billion by 2014, driven by one-to-one marketing and the rapid proliferation of smartphones. In addition, there are also other factors that will help this market grow such as the growth of the mobile web, the availability of high speed mobile broadband networks and the ever-growing usage of SMS marketing.
Juniper Research thinks of the mobile retail market as a mixture of mobile coupon redemption values, smart poster fees and advertising expenditure. In that sense, the research company believes that coupons would initially dominate the market until they are exceeded by mobile advertising expenditures by 2013.
Other findings from the Juniper report include:
- For brands and retailers, mobile offers the ability to change campaigns quickly, and the ability to track the success and customer acquisition rates.
- Usage of the mobile in a live shopping situation can be particularly effective – i.e. for product price comparisons.
- Mobile will be more effective channel for younger users, whereas older demographic groups are not that likely to use their mobiles in a retail situation.
And you can get additional information about Juniper’s report titled “Mobile Marketing & Retail Strategies: Advertising, Coupons & Smart Posters 2009-2014″ from their website.