- Category: July 2011
According to the survey, consumer engagement in mobile commerce has exploded. As much as 74% of respondents in Singapore said they access the mobile web on a daily basis, while 84% have already adopted mobile commerce by using their device to either research or buy goods. The majority of mobile purchases are digital goods (40%), but physical goods constitute a notable part, with 15% of consumers having bought electronic goods via mobile.
Mobile banking is also clearly establishing itself in this market, with 32% regularly checking their balance via mobile and almost one-fifth (18%) paying bills on a mobile device.
In Indonesia, 63% of respondents had sent airtime remittances via mobile. Among those in Indonesia that have bought something on their mobile, 19% have done so through a retailer mobile store front, illustrating the value of the mobile channel for retailers. Meanwhile, 41% have bought items via their network operator in the last six months.
“This global research clearly demonstrates that consumers across the world are embracing mobile as a key access point for their content and commerce needs,” commented Andrew Bud, Global Chairman, MEF, adding: “It also illustrates that mobile is an essential platform for companies wishing to drive consumer engagement and monetize their goods, services and digital products.”
MEF expands mission to represent wider mobile ecosystem
This change in consumer habits, and the increasing focus placed on mobile by a growing number of companies as a consequence, is the reason why now is the right time for MEF to expand its mission to include the entire mobile content and commerce ecosystem.
“As a global organization with strong local representation, MEF is ideally placed to shape the industry, connect thought leaders, drive monetization opportunities and provide competitive advantage for mobile content and commerce leaders,” said Rimma Perelmuter, Executive Director, MEF. “Over the past 10 years, MEF has helped to grow mobile content into the $36 billion industry it is today, assisting its members in navigating the complexities of the channel and capitalizing on its opportunities”, he concludes. Fuelled by MEF’s deep engagement in mobile commerce, companies from a range of verticals have contacted MEF recently, interested in leveraging its expertise, skills and global network.
Over the past 18 months, the organization has led a global mobile commerce initiative promoting the enormous commercial potential of the mobile channel. This work includes a partnership with ASC X9, the US technical group that develops financial industry standards, to establish privacy and security standards to advance m-Commerce. Concerns about security were cited by an average of 27% of respondents across all markets surveyed as a reason why they did not make more purchases using their mobile devices.
"It's a truly exciting time to be leading MEF in Asia, particularly as the association adapts to the amazing dynamics of this fast-paced industry. By focusing on a wider business remit, we can better address the market challenges faced by companies in multiple categories, including banking and retail, who are already seeking more guidance for mobile best practice across Asia,” commented Colin Miles, Chairman, MEF Asia.
“MEF Asia will proactively represent its enlarged membership base in the knowledge that we are in a strong position to benefit all our members in the Asia Pacific region, which continues to lead the way in all things mobile," he added.
“We look forward to working with all of our members, be they mobile operators, content owners, brands or financial institutions, to ensure the delivery of a robust and trusted mobile commerce experience for all consumers,” concluded Perelmuter.
Source: MEF (www.mefmobile.org)