Accepting payments made via mobile devices will be an important step retailers need to take in the coming years – and the CEO of Apple recently spoke about why.
Mobile credit card and debit card payment processing equipment may even become a necessity over the course of the next few years. Tim Cook, CEO of Apple, explained that mobile payments are likely to become even more popular as applications make it easier for consumers to complete transactions they began on their phones, according to a recent report from The Wall Street Journal.
“We are seeing that people love being able to buy content, whether it’s music or movies or books, from their iPhone using Touch ID,” Cook said, according to the news outlet. “It’s incredibly simple and easy and elegant and it’s clear there’s a lot of opportunity there. The mobile payment area in general is one that we’ve been intrigued with. That was one of the thoughts behind Touch ID. … You can tell by looking at the demographics of our customers and the amount of commerce that goes through iOS devices versus the competition that it’s a big opportunity.”
The Journal went on to note that Cook had referred to the mobile payments industry as being “in its infancy” just one year ago, illustrating the speed with which consumers have become comfortable making payments on their phones.
Social media websites may also be driving sales
Another driver of retail sales in the coming years may also be directly tied to mobile phones: the use of social media websites and mobile applications. Internet Retailer, for example, recently reported the results of a study from the University of Wisconsin-Milwaukee that found that products hosted on Instagram using aspirational or attention-grabbing compositions tend to sell better than products displayed in other types of images.
“Marketers may use a supermodel to get your attention on a billboard,” Pau Sabria, co-founder of Olapic, told Internet Retailer. “But when you’re ready to make a purchase, you’re interested in reality. You’re wondering, will this fit me? Is it nice quality?”
The news outlet went on to note that the study found that unfiltered images hosted on Instagram, as well as images with copious amounts of yellow and blue in the frame and images backed by long captions, tend to sell better at e-commerce websites than images hosted in other manners.Back To Blog