What We’re Reading: Thanksgiving Edition
Below are interesting stories the Banking.com staff has been reading over the past week. What have you been reading? Let us know in the comments section below or Tweet @bankingdotcom.
- Mobile Thursday? Plans for Thanksgiving Day smartphone and tablet shopping almost double, Digitas study finds
In fact, 28 percent of adult smartphone and tablet owners plan to shop using those mobile devices on Thanksgiving Day, according to a new study conducted by Harris Interactive for Digitas. That’s almost double the 15 percent of U.S. adults age 18 and older who made the same claim in 2011. “The fact that it’s just about a 100 percent year-over-year increase shows the big behavioral change that mobile devices are causing,” said Chia Chen, mobile lead at Digitas. “Mobile is not just a channel—it’s really about this kind of technology-driven cultural change.”
- Mobile Payments to Top $1 Trillion by 2017: IDC
In new research released Wednesday, IDC Financial Insights is predicting that by 2017, worldwide purchase volume over mobile devices will reach $1 trillion. Most of the overall volume in mobile will come from mobile commerce, which IDC Financial Insights defines as digital media consumed on the device as well as electronic commerce performed through a mobile web browser. IDC Financial Insight’s forecast is focused on consumer and business spending over mobile networks, on goods and services and direct fund transfers, from 2012 to 2017. This does not include spending by service providers on technology to enable such services.
- Tweet This: 1 In 5 Banks Are Twitter Quitters
Who’s adding the most followers? Does tweeting more boost follower counts? Answers to banks’ tough Twitter questions in this exclusive study from The Financial Brand — follower growth, tweeting efficiency and other performance metrics for over 300 U.S. retail banks. The hard data doesn’t lie. This study encompassed 314 banks on Twitter, estimated to represent around 4.2% of all U.S-based deposit-taking retail institutions in the U.S. and at least 20% of all such banks on Twitter. Only banks that sent at least one tweet from a public Twitter account with a customized profile were included.
- Black Friday Puts Payment Processing Stocks Into Focus
The days of waking up at 3:00 in the morning on Black Friday to go shopping is a tradition that may never go away. But it is increasingly sharing the stage with people staying at home in their pajamas and taking advantage of Black Friday specials online. The stakes are huge. Last year, shoppers in the U.S. spent an incredible $52 billion over the long holiday weekend, nearly $20 billion online.
- Online Outages Wear on Profits, Not Just Customers’ Patience
Outages become even more of a threat as consumers become more reliant on the Internet for daily activities, from banking and shopping to directions and communication. Cyber Monday, for example, has become the busiest online shopping day of the year with sales in 2011 reaching $1.3 billion and Adobe (ADBE) forecasting sales will grow 18% this year to $2 billion, marking the most lucrative online shopping day in history.As retailers prepare for the rapidly approaching Black Friday weekend, having mechanisms in place to prepare for an influx in traffic as well as tightening security to help fend off third-party cyber crimes might mean the difference between success and failure not only this holiday season but in the future as well.
- Global consumer survey finds 88% of mobile media users now engage in mobile content and commerce
Nearly nine in ten (88%) of the world’s mobile media users now engage in mobile content and commerce – up from 82% in 2011 – according to the findings of the MEF’s latest annual global consumer survey published today. Conducted in partnership with On Device Research, the study across 10 countries – which defines mobile commerce as “anyone using a mobile phone for research, purchase or banking” – reveals that the mobile market is maturing, with 80% of all consumers using their phones for research, rising to 88% among over. Similarly 55% of people have purchased from their mobile but the figure is 64% for over 35s. There is also a rise in mobile banking, with 64% of consumers now use their devices to conduct mobile banking (up from 57% in 2011). Interestingly, payment via card has taken over from operator billing, with 27% of those surveyed used a card for m-commerce, against just 14% making payments via the phone bill (not including purchasing airtime).
- Mobile Plays A Growing Role In Cyber Monday Shopping [Infographic]
Read Write released an infographic which showed that mobile plays a growing role in cyber Monday shopping. The infographic said that a total of almost $1.25 billion was spent on Cyber Monday in 2011. That was nearly 12% of all the money spent by November online shoppers in one day. In 2011, 12% of shoppers visited a website from their mobile devices, of which 6.7% made a purchase, double the rate from 2010. The average mobile shopper (42%) is between the ages of 25 and 44, with men spending more money than women from their mobile devices ($312 to $222, respectively).
- 10 Apps To Manage Black Friday Mayhem
Retailers have upped the Black Friday ante with more and bigger sales on the classically American retail holiday that used to arrive the day after Thanksgiving. This year the shopping frenzy starts early Thursday evening, at about pumpkin pie o’clock, and the 30-hour marathon of staggered sales and promotions is enough to leave even the most professional shopper frazzled.
- 7 ways to avoid overspending and being duped during holiday season
‘Tis the season to shop until you drop. Or is it? You’ve heard of all the things to do this shopping season. Here are some things you don’t want to do. You don’t want to waste your money, bust your budget or even carelessly let your guard down for thieves to steal your credit cards — and even your identity — while shopping for door-buster deals. Here are seven “Don’ts” to assure you have a memorable — and safe — holiday season without going over budget.