Mobile Shopping Improving the Consumer Journey

Mobile Shopping Improving the Consumer Journey

Mobile advertising is growing speedily. An ongoing Customer Journey only a fraction of purchases really takes place through smartphone. More and more brands are taking mobile ecommerce, offering mobile applications and mobile-optimised sites to their customers. But mobile shopping sites and apps are increased in popularity; customer expectations are rising extremely with it, so brands need to be doing more to keep pace.

The key finding: online surfers use smart mobile phones primarily as information sources. If a mobile purchase does actually occur then it proceeds very quickly. As customers’ expectations of mobile ecommerce increases, now a days businesses understand that the customer experience is no longer just about the number of sales, site clicks or social media mentions. Alternatively, they need to know what causes of customers to behave the way they do – what types of customer behaviour exist, how different types of problem impact their behaviour and how this can help ebusinesses to improve their overall online customer experience.

Conversions take place on the desktop is 83% and traffic share is only 70%. Regardless all efforts by e-commerce businesses to improve usability is only 9% of sales obtained through smartphones although they account for 21% of all traffic in the web shops determined. In many cases it was apparent that users only wanted to get information about product quickly without having a definite wish to buy the product. Success in providing that uncommon experience for mobile shoppers involves making it as simple as possible.

That means very small effort on the customer part to get to what they want and complete their purchases. That also means a lot of work for retailers who have not compulsory made these changes to provide such an incredible mobile experiences for their customer.

Bruno Miller is a chief editor at MarketPRNews. He has 13 + years of experience in Content Writing & blogging. His hobbies are Travelling, Reading and learning new things.

Payment Security Market by Solution According To Market Research Industry Growth, Trends, Share and Size, Forecast 2022

Increased adoption of digital payment modes is expected to drive the growth of the payment security market

The payment security market size is expected to grow from USD 11.39 billion in 2017 to USD 24.63 billion by 2022, at a Compound Annual Growth Rate (CAGR) of 16.7%. The growth of the payment security market is driven by various factors, such as increased adoption of digital payment modes, need to adhere to PCI guidelines, and rise in fraudulent activities on eCommerce. However, lack of trust in online banking may restrict the growth of the payment security market.

Encryption solution segment is expected to grow at a higher CAGR during the forecast period

Encryption transforms consumer’s financial information into non-readable form called cipher text using mathematical algorithms. The encrypted data is not readable by anyone, which secures cardholder’s details. Thus, encryption solution helps to reduce the vulnerability of the data, which ultimately reduces a merchant’s business risks. The solution also fulfills the regulatory requirements of PCI DSS compliance. Therefore, it is expected to witness high growth rates in the near future.

The retail vertical is expected to dominate the payment security market

The popularity of online shopping is increasing in the retail industry. Retail merchants regularly face a challenge in managing consumer’s sensitive data related to payment cards and complying with the regulations. This vertical is one of the most targeted verticals by cyber-attackers because of the potential payouts and huge number of monetary transactions made via VISA, MasterCard, and other payment processing networks. This necessitates substantial investments in payment security solutions by this vertical, making it the highest contributor in the payment security market.

Asia Pacific (APAC) is expected to have the highest growth rate during the forecast period

APAC includes emerging economies such as China, Australia, Singapore, and India, which are rapidly deploying payment security solutions. It is expected to grow at the highest CAGR during the forecast period. This is mainly due to the rise in fraudulent activities on eCommerce in many industry verticals, such as retail, Information Technology (IT) and telecom, travel and hospitality, healthcare, and education. Furthermore, North America is estimated to have the largest market size in 2017.

In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, innovation and technology directors, and executives from various key organizations operating in the payment security market.

• By Company Type: Tier 1: 55%, Tier 2: 20%, and Tier 3: 25%
• By Designation: C-Level: 60%, Director Level: 25%, and Others: 15%
• By Region: North America: 40%, Europe: 20%, APAC: 10%, and RoW: 30%

The report includes the study of the key players offering payment security services, such as Braintree (Illinois, US), CyberSource Corporation (California, US), Elavon (Georgia, US), Index (Nevada, US), Ingenico ePayments (Hoofddorp, Netherlands), Intelligent Payments (Gibraltar), GEOBRIDGE Corporation (Virginia, US), Shift4 Corporation (Nevada, US), Transaction Network Services (TNS) Inc. (Virginia, US), and TokenEx, LLC (Oklahoma, US).

Research Coverage

The report covers the payment security services offered across different regions. It aims at estimating the market size and growth potential of this market across different segments, such as solutions and services, organization size, verticals, and regions. Furthermore, the report also includes an in-depth competitive study of the key market players along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.

Key Benefits of Buying the Report

The report will help the market leaders/new entrants in the payment security market with information on the closest approximations of the revenue numbers for the overall payment security market and subsegments. This report will help stakeholders to understand the competitor landscape, gain more insights to position their businesses better, and plan suitable go-to-market strategies. The report also helps the stakeholders to understand the pulse of the market, and it provides them with information on the key market drivers, restraints, challenges, and opportunities.

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Bharat Book is the leading market research information provider for market research reports, company profiles, industry study, country reports, business reports, newsletters and online databases Bharat Book Bureau provides over a million reports from more than 400 publishers around the globe. We cover sectors starting from Aeronautics to Zoology.