Consumers will embrace mCommerce in 2014, says Prentice Capital
Michael Zimmerman's hedge fund Prentice Capital believes up to 80 per cent of consumers will embrace mCommerce in 2014, and it anticipates significant increases in the amount of money shoppers spend online via mobile.
This view is supported by research published in a report from mobile ad network InMobi which states that 83 per cent of surveyed respondents plan to use mobile commerce in the next 12 months with a further 48 per cent of respondents using mobile to influence their purchasing decisions.
Michael Zimmerman's Prentice Capital, a hedge fund that invests heavily in consumer retail stocks with strong online sales strategies, identifies a sales "sweet spot" with mobile and tablet users preferring to spend between USD25 and USD100. Mobile devices have become integral to everyday life, but moreover, trust and reliance on mobile devices has increased and Zimmerman expects this to have a significant impact on mobile commerce growth in 2014.
Retail sales increased 0.3 per cent MoM in February. The increase was led by a large jump in non-store retailers, which saw an impressive 1.3 per cent MoM increase and 6.8 per cent compared with the same period last year.
"[The] positive retail sales report indicates that the economy is primed for growth," NRF president and CEO Matthew Shay says.
Michael Zimmerman's Prentice Capital fund is an employee-owned financial investment advisory firm headquartered in Greenwich, founded in 2005 by Zimmerman. The fund primarily invests in consumer and retail equity stocks.
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