Everyone talks about the way m-commerce has galvanized the retail business especially in developing markets like India and China. More than 40% of Indian online shoppers prefer to shop from their smartphones and more than 30% of all Chinese shoppers who made online purchases did so from their smartphones. This number is more than any major economy including the USA. So how then will the next big leap happen in m-commerce?
Well by using the most obvious tech feature in all smartphones: The Camera! You have used camera for a myriad of scenarios, but using it for shopping is something you will fall in love with instantly.
This is how it will work: You are walking down a high street and you spot a really trendy handbag. It could either be in a shop window or in the arms of a lovely lady. You take a picture of that instantly and search for a similar product online. Once you find what you are looking for, you just go on to the m-commerce site, pay for it, and its delivered to your home! Really smart and cool new way of shopping.
Snap.Find.Buy. That’s what Neiman Marcus has named the feature. Neiman Marcus, a Texas-based luxury specialty department store included this revolutionary feature in their mobile search. And its working really well.
Amazingly, this technology can also convert a magazine into a shopping catalog. Just click a picture of what you like in the magazine and you may just as well shop it online instantly! Target Stores did that for the September issue of Elle magazine with a series of visual search-enabled ads.
Slyce, a company that delivers the visual search technology used in many retail apps, recently launched a new product for retailers, called Snap-to-Coupon. The technology, when integrated into a retailer app, enables consumers to snap a photo of any coupon they see from that retailer – whether via newspaper, catalog, or receipt – and instantly generate a mobile-optimized version which can be stored on the retailer’s app. The retailer is then able to leverage push notifications to remind the consumers to use the coupon. These reminders can be automatically triggered based on pending expiration dates of coupons or when a consumer is near a physical store. According to industry updates, leading stores like JCPenney and Macy’s are also adopting the mobile visual search technology in some form. That’s why this is the hottest new feature that is likely to take m-commerce to another level…