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QR Codes Transition Consumers To Mobile

08/26/2013

Screen shot 2013-08-26 at 6.24.14 AM

There is considerable discussion about mobile and mobile commerce these days.

Rightly so.

According to technology research firm, Gartner, mobile commerce will see a 44% increase globally, reaching $235 billion this year. These increases will only continue, forecasting a $721 billion market with 450 million mobile commerce users by 2017. This figure includes transactions such as bill payments, money transfers and consumer payments.

Though mobile payments are expect to reach significant growth in the coming years, users have been slow to adopt mobile consumer payments. Starbucks is the only company that has found significant success. Starbucks saw nearly $500 million worth of mobile transactions in the last year according to Berg Insight.

American consumers have been slow to adopt mobile payments because “the buying experience has yet to be optimized”, according to Gartner. This observation is spot on. The Starbucks mobile payment app simplifies consumers interaction with the company but also delivers benefits like free app downloads, specials and other marketing touches.

Just over a year ago we wrote about Starbucks and its success with mobile payments. In “3 Reasons Why Starbucks Mobile Payment Will Prevail” In it we stated that Starbucks ubiquitous as well as their intended expansion deeper into grocery stores combined with adept marketing puts the brand firmly in place to lead the mobile payment trend.

One challenge brands have is moving traditional payment consumers into mobile payment. More brands are using QR codes to do just that. For example DSW shoes is encouraging consumers to scan the QR on post cards to keep the coupon on their smartphone. Once consumers get more accustomed to scanning their phones for discounts the transition to payment via smartphone becomes more likely.

Mobile is invaluable both as a tool for consumers but also for brands to connect and transact with consumers.

We’ll keep our money on Starbucks as being the industry leader here.

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