BIA Estimates Local Broadcast TV Ad Revenues to Top $23.8 Billion in 2024, Bolstered by Political and Increased Auto and Legal Ad Spending
BIA CEO Addresses Television’s Share of the Local Advertising Marketplace for Key Ad Spending Verticals…
CHANTILLY, Va. (Dec. 9, 2013) – BIA/Kelsey, advisor to companies in the local media industry, today announced the release of a new report which explores the evolution of shopping, commerce and payments in the mobile age. “Mobile Local Shopping and Payments: A Virtuous Cycle” profiles top players, examines best practices, and determines the best opportunities for local media companies to integrate mobile marketing solutions and boost retention among SMBs and local merchants.
“Together, e-commerce and m-commerce only comprise 7 percent of U.S. retail spending—the rest is offline in physical stores, especially for products that shoppers want to see before they buy,” said Michael Boland, VP of content and senior analyst, BIA/Kelsey. “Given the mobile device’s portability, the larger opportunity lies in mobile-assisted offline shopping. Mobile should help rather than hinder bricks and mortar businesses, becoming an important utility for shoppers and merchants if embraced in the right ways.”
The report examines a range of elements that comprise the mobile shopping and payment landscape, including check ins, mobile coupons and card-linked offers, Apple’s Passbook, showrooming, third-party shopping apps, indoor mapping, mobile payments, smartphone and tablet card readers, ePOS systems, payment apps, specialized POS hardware, near field communication (NFC), and more.
BIA/Kelsey recently reported 40 percent of small and medium-sized businesses surveyed for its Local Commerce Monitor study now accept payments at the point of sale with a mobile credit card reader attached to a smartphone or tablet, and another 16 percent plan to add this capability within the next 12 months.
This data provides context for four case studies contained in the new report, which highlight small merchants that have ventured into the world of mobile payments. One of these merchants is Lemongrass, an Arlington, Virginia-based food truck that serves up Vietnamese cuisine and uses a mobile card reader in combination with an iPad to accept credit card payments, which account for 65-70 percent of its sales.
The new report is a follow up to BIA/Kelsey’s mobile insight paper, “From National to Local: Mobile Advertising Zeros In,” and takes the next step in the purchase cycle: engaging users while shopping, influencing their behavior, facilitating conversions and collecting data.
The 30-plus-page report is a useful resource for anyone focused on the trends and directions of mobile local shopping and commerce, including companies building mobile local products and vetting opportunities based on mobile shopping trends. The report, which is published for BIA/Kelsey’s mobile advisory clients, is also available for purchase. More information about the report and how to purchase it is available at http://www.biakelsey.com/Research-and-Analysis/Coverage-Areas/Mobile/insight-report-mobile-shopping.asp.
BIA/Kelsey advises companies in the local media space through consulting and valuation services, research and forecasts, Custom Advisory Services and conferences. Since 1983 BIA/Kelsey has been a resource to the media, mobile advertising, telecommunications, Yellow Pages and electronic directory markets, as well as to government agencies, law firms and investment companies looking to understand trends and revenue drivers. BIA/Kelsey’s annual conferences draw executives from across industries seeking expert guidance on how companies are finding innovative ways to grow. Additional information is available at http://www.biakelsey.com, on the company’s Local Media Watch blog, Twitter (http://twitter.com/BIAKelsey) and Facebook (http://www.facebook.com/biakelsey). Stay connected by subscribing to the firm’s bi-monthly newsletter.