Global FMCG retail is pegged at $4 trillion today, growing at a rate of just 4%, with signs of continuing sluggish performance in developed markets. On the other hand, total retail e-commerce is predicted to grow by 20% (combined annual growth rate) to become a $4 trillion market by 2020.
In the emerging age of tap and go, mobile payments offer the promise of greater convenience and security for consumers, as well as entirely new ways for consumers and brands to engage with one another. What are the opportunities for consumers and brands from the connection of payments to a range of other digital activities on their phones? Louise Keely offers key insights.
While the average Indian spends around two hours and forty five minutes per day on their smartphone, the ‘super consumers’ are substantially more involved with their phones, especially when it comes to data usage. They represent one-third of the telecom consumer universe and are influential in trendsetting and influencing behaviour.
As mobile device and service availability increase, particularly in developing markets, more and more consumers are experiencing the freedom to surf the Web and stay connected wherever their days take them.