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3 demographics that are essential for mobile commerce

August 6, 2014

When designing a mobile commerce site it is important to take your target demographic into consideration, since the mobile site should be designed to fit their needs more than anyone else.

When designing a mobile commerce site it is important to take your target demographic into consideration, since the mobile site should be designed to fit their needs more than anyone else. 

The next $100 billion-dollar, venture-backed company to emerge will likely be a m-commerce business, according to TechCrunch. The last three of these “super-unicorns,” so called for their size and rarity, have all been consumer technology companies – Facebook, Google and Amazon. 

By 2020, the media outlet predicted that 75 percent of global online transactions will be completed on a smart phone or tablet. It stated that the next “super unicorn” will be a commerce company, and that in the future the 2010s will be the “decade of m-commerce.” This m-commerce “super unicorn” will likely fall into one of six commerce categories; mobile payments; retail enablement; mobile retail; marketplaces; on-demand services and app-based services. 

TechCrunch’s bold predictions paint the rest of the decade as an essential time for mobile entrepreneurs to kick start their businesses.

One in five people who own a smart phone, and one in 17 who own a tablet, according to Econsultancy. With one third of all online traffic coming from mobile devices, it is essential that a mobile start-up identify which of these consumers is the target demographic, and how this segment of shoppers will be reached effectively. Below are the three most important mobile shoppers:

1. Moms
More than 70 percent of household spending in the United States consisted of transactions initiated by moms according to a 2009 survey by Boston Consulting Group. In addition, the majority of moms own smart phones, which make them a powerful demographic in terms of retail spending. TechCrunch concluded that the prominence of moms in the retail spending market, in addition to their mobile connectivity, makes them the most important faction of the population to reach. 

Moms are important to engage properly with in order to begin taking a share of the mobile retail market. It is essential to keep in mind the busy schedule of a mother. Engaging shopping experiences that offer discounts and present the opportunity to ease responsibilities are important for capturing this essential demographic.

2. Millennials
A ComScore study found that 81 percent of millennials in the United States owned smart phones by the end of 2013. And the majority of all these young people check their e-mail and social networks, read the news and do their shopping on their mobile devices. This is particularly true of teenage and college-aged women who use their mobile devices in order to shop for apparel, accessories and beauty products. This segment of the population is extremely active in the app-based services categories and are particularly interested in apps related to dating and fitness.

In order to capture the attention of millennials, companies will have to move quickly. A National Center for Biotechnology Information study found that the average attention span dropped 33 percent from 12 seconds to 8 seconds from 2000 to 2013. 

Consumers don’t want to have to wait, no matter what their age, so speeding up load time is essential, according to Econsultancy. The average page load time is 2.9 seconds, which provides slightly over 5 seconds to capture a millenial’s attention. Speed is everything when capturing this demographic. 

3. Multinationals
The patterns exhibited by moms and millennials aren’t as prevalent when taking multinational consumers into consideration, though one thing is definite: a lot of them shop on smart phones. It is important to know which countries you are operating in, and how to reach consumers in those areas. A 2013 
Statista study found that the United States ranks 13th in smart phone penetration, which means there area 12 countries that have a larger percentage of potential mobile shoppers than the U.S. does. 

These three groups will be increasingly significant mobile shoppers as the decade moves on, and so it is important to latch on to their tendencies and take advantage of them to ensure mobile success, and the chance at becoming a “super unicorn.” 

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