The shift of retail commerce into the mobile world is bad news for retailers, according to a Forbes article by Panos Mourdoukoutas. On the other hand, it’s great news for consumers.
Mourdoukoutas notes that mobile commerce has increased by 25 percent over the past season, which digital commerce overall has increased by 16 percent. While he doesn’t cite these statistics, the general trend is accurate – it’s the major factor that has pushed industry experts to recommending enhanced biometric security on mobile devices, as Apple has installed on its handhelds.
The problem with this shift – for retailers, that is; it is no problem at all for consumers – is that it brings the retail industry pretty close to a situation of “perfect competition”, in which consumers can immediately access all competing offerings and therefore have the upper hand in driving down prices. While this could be a major issue for smaller retailers, potentially driving them out of the market, consumers win big in this scenario by getting cheaper prices. As long as they secure their devices against the growing threat of fraud, the mCommerce revolution could prove to be a huge win for shoppers.