Advertisements



M-commerce will work…for Gen Y…for now.

In the next 12 to 18 months analysts predict that m-commerce revenues will reach a half a billion dollars.  Pairing that with almost 300 million wireless customers, “someone” is going to be buying something through their wireless device. The question is who is that person? Is it the Baby boomer? No, they are just becoming comfortable with their computers and shopping online. Is it the Gen X’ers? No not yet, although they will follow pretty quickly as soon as the cool and the perceptive ease of use factors rises to a palatable level.

The answer my friend lies in your Gen Y users. The 15-29 users who just so happen to be your biggest social network users as well. This is, by no means coincidental. It makes complete sense on a lot of levels but here it is in its simplest terms. This generation is so technologically saavy that buying “things” using their mobile phones is nothing more than another viable option for spending money, communicating with their friends and being in the NOW.  It’s just another way to simplify their overly simplified “Me generation” entitled lives. It is a mere blip on the landscape that is their socialized technified world.

Not to sound bitter, and if I do it’s only because this generation can embrace a new technology so easily and so seamlessley that the projections for what kind of money might be generated might be underestimating the puchasing power of this group. The only way the numbers get pushed down is by overestimating the mobile purchasing power of a 15-19 year old who might not have a credit card to complete the transaction.

Gen Y users have 2 things working in their favor as well. 1) they account for almost a 100% ownership of cell phones and 2) have a purchasing power of almost $200 billion.  Add to this the fact that this group has no problem accessing the mobile web with relative ease, and couple it with their comfort level in regards to their expectation that mobile web sites meet their demands, and you have volatile mixture of a captive audience ready to buy with expendable cash.

In the next 12-24 months, marketers, consumers and advertisers will need to look to Gen Y to call the shots in regards to usage numbers, trends, and expectations. As soon as Gen X and the Boomers see how well it works for Gen Y. Look for M-commerce to explode. Look no further than Japan for a classic example, where in the last year e-tailers rang up almost $10 billion in revenue from M-commerce sales.

Advertisements

Advertisements

The Deets

Marc Meyer is a Digital and Social Media Strategist at DRMG. This is my personal blog where I share observations, thoughts and opinions that are all my own.

Feeds

social media conference

Latest tweet

Error: Twitter did not respond. Please wait a few minutes and refresh this page.

TwitterCounter for @marc_meyer
Alltop, all the top stories
Add to Technorati Favorites
View Marc Meyer's profile on LinkedIn
SocialTwist Tell-a-Friend

The social me

January 2008
M T W T F S S
« Dec   Feb »
 123456
78910111213
14151617181920
21222324252627
28293031  

Mad Props

My site was nominated for Best Business Blog!
qrcode

Enter your email address to subscribe to this blog and receive notifications of new posts by email.

Join 98,270 other followers

Advertisements

%d bloggers like this: