Ericsson ConsumerLab Report: M-Commerce in Latin America shows that the majority of people in Latin America who are not using m-commerce services today would be interested in using such services in the future. Convenience and security are important drivers for m-commerce in the region. Lack of trust in the services, perceived low network quality and a general knowledge gap among consumers are barriers to overcome in securing greater spread of m-commerce.
IBM Retail | Meeting the demands of the smarter consumerIBM Retail
New technologies and socioeconomic trends are changing the retail marketplace. Discover the survey results of over 32,000 consumers to find out how their buying behaviors are evolving and what smarter consumers will demand from retailers in the future.
Find out how your brand can create the right emotional connection for Millennials
Millennials are entering an important life stage for banks, as this segment of the population is starting to build wealth while driving potential sales growth in financial products and services. This segment tends to use more primary banking products than Baby Boomers and carry a higher minimum balance in their checking accounts. An additional reason for the increased focus on this segment is based on the rapid growth in size versus other cohorts such as Baby Boomers. This study will translate the many research documents into an ideal Millennial Experience (MX) for the banking industry through our Omni Experience Model and will help define the role of physical branches versus online. http://www.sld.com
Future of payments - Insights from Discussions Building on an initial perspe...Future Agenda
The initial perspective on the Future of Loyalty by MasterCard kicked off the Future Agenda 2.0 global discussions taking place through 2015. This summary builds on the initial view and is updated as we progress the futureagenda2.0 programme. www.futureagenda.org
IBM Retail | Meeting the demands of the smarter consumerIBM Retail
New technologies and socioeconomic trends are changing the retail marketplace. Discover the survey results of over 32,000 consumers to find out how their buying behaviors are evolving and what smarter consumers will demand from retailers in the future.
Find out how your brand can create the right emotional connection for Millennials
Millennials are entering an important life stage for banks, as this segment of the population is starting to build wealth while driving potential sales growth in financial products and services. This segment tends to use more primary banking products than Baby Boomers and carry a higher minimum balance in their checking accounts. An additional reason for the increased focus on this segment is based on the rapid growth in size versus other cohorts such as Baby Boomers. This study will translate the many research documents into an ideal Millennial Experience (MX) for the banking industry through our Omni Experience Model and will help define the role of physical branches versus online. http://www.sld.com
Future of payments - Insights from Discussions Building on an initial perspe...Future Agenda
The initial perspective on the Future of Loyalty by MasterCard kicked off the Future Agenda 2.0 global discussions taking place through 2015. This summary builds on the initial view and is updated as we progress the futureagenda2.0 programme. www.futureagenda.org
Mobile Wallets In China: What You Need To Know Mark Opao
Sooner or later, mobile wallets will become a norm rather than a trend in the way we do payments in China, online or offline. In this report we have gathered relevant research to assess the current state and future potential of mobile wallets in China that marketers should know- including the prominent wallet types, usage trends, key challenges and future prospects.
Bankings Biggest Problem: The Millennial Generation (Updated)George Samuel Samman
Millennials are the fastest growing demographic worldwide and they have unique characteristics which companies must tap into if they want to succeed in the coming decades. Fintech is seizing this opportunity and the banks are failing. There is a major opportunity here for those who win the millennials and the underbanked globally.
This is an updated view on future of currency. Building on the new initial perspective authored by Patrick Teng, CEO of Six Capital, it includes insights from events in Asia and will be added to in Europe as we explore how currency is changing over the next decade.
Engaging millenials for financial servicesJason Dea
Webinar sponsored by Empathica discussing how the financial services industry can leverage great experiences to better engage with the Millennial generation
Find a great Infographic summary of some of the research here http://forewardsapp.com/blog/influence-millenials-drive-customer-referrals/
Ericsson ConsumerLab: Mobile Commerce in Emerging AsiaEricsson
A report from Ericsson ConsumerLab has explored the possibilities of widespread m-commerce adoption in emerging Asia. The countries included in the study were Bangladesh, Indonesia and Vietnam.
Future of privacy - Insights from Discussions Building on an Initial Perspect...Future Agenda
The initial perspective on the Future of Privacy kicked off the Future Agenda 2.0 global discussions taking place through 2015. This summary builds on the initial view and is updated as we progress the futureagenda2.0 programme. www.futureagenda.org
Financial literacy in China as an innovation opportunityJan Brejcha
The purpose of the study was to get insights of the financial knowledge, behavior, and attitudes of the young generation of Chinese (Millenials or Little Emperors, i.e. born between 1980-1995), in order to find and exploit design opportunities to improve the financial well being of our target group. Our paper presents an introduction to the research area, the current technological trends, the results of our initial study, and further directions both for research and design of solutions targeted at our tentative users.
This slideshow highlights some of the events and speakers that made presentations during the MMT APAC conference in Manila that was organized by Clarion Events and the M-Banking Dialogue organized by MicroSave and MABS in December 2009.
Mobile Wallets In China: What You Need To Know Mark Opao
Sooner or later, mobile wallets will become a norm rather than a trend in the way we do payments in China, online or offline. In this report we have gathered relevant research to assess the current state and future potential of mobile wallets in China that marketers should know- including the prominent wallet types, usage trends, key challenges and future prospects.
Bankings Biggest Problem: The Millennial Generation (Updated)George Samuel Samman
Millennials are the fastest growing demographic worldwide and they have unique characteristics which companies must tap into if they want to succeed in the coming decades. Fintech is seizing this opportunity and the banks are failing. There is a major opportunity here for those who win the millennials and the underbanked globally.
This is an updated view on future of currency. Building on the new initial perspective authored by Patrick Teng, CEO of Six Capital, it includes insights from events in Asia and will be added to in Europe as we explore how currency is changing over the next decade.
Engaging millenials for financial servicesJason Dea
Webinar sponsored by Empathica discussing how the financial services industry can leverage great experiences to better engage with the Millennial generation
Find a great Infographic summary of some of the research here http://forewardsapp.com/blog/influence-millenials-drive-customer-referrals/
Ericsson ConsumerLab: Mobile Commerce in Emerging AsiaEricsson
A report from Ericsson ConsumerLab has explored the possibilities of widespread m-commerce adoption in emerging Asia. The countries included in the study were Bangladesh, Indonesia and Vietnam.
Future of privacy - Insights from Discussions Building on an Initial Perspect...Future Agenda
The initial perspective on the Future of Privacy kicked off the Future Agenda 2.0 global discussions taking place through 2015. This summary builds on the initial view and is updated as we progress the futureagenda2.0 programme. www.futureagenda.org
Financial literacy in China as an innovation opportunityJan Brejcha
The purpose of the study was to get insights of the financial knowledge, behavior, and attitudes of the young generation of Chinese (Millenials or Little Emperors, i.e. born between 1980-1995), in order to find and exploit design opportunities to improve the financial well being of our target group. Our paper presents an introduction to the research area, the current technological trends, the results of our initial study, and further directions both for research and design of solutions targeted at our tentative users.
This slideshow highlights some of the events and speakers that made presentations during the MMT APAC conference in Manila that was organized by Clarion Events and the M-Banking Dialogue organized by MicroSave and MABS in December 2009.
Gen Y consumers will earn 46% of the income in the United States by 2025, but they’re often misunderstood or ignored by financial services providers. This is especially true when it comes to online and mobile behavior and attitudes toward traditional banking.
Understanding this problem and designing to overcome it is critical to our work at Comrade, so we’re pleased to have partnered with Javelin Strategy & Research to publish “The Three Costliest Myths about Gen Y". This report applies consumer data to dispel the myths circulating in financial services today about Gen Y consumers. Beyond exposing pervasive misconceptions, it also explains how to optimize digital and physical touchpoints to attract tomorrow’s most profitable bank customers.
Future of payments - An initial perspective by MasterCardFuture Agenda
An initial perspective on the future of payments by MasterCard. This is the starting point for the global future agenda discussions taking place through 2015 as part of the the futureagenda2.0 programme. www.futureagenda.org
p a r t1Introduction toRetailingC h a p t e r 1P.docxalfred4lewis58146
p a r t
1
Introduction to
Retailing
C h a p t e r 1
Perspectives on Retailing
C h a p t e r 2
Retail Strategic Planning
and Operations Management
Perspectives on Retailing
OVERVIEW:
In this chapter, we acquaint you with the nature and scope of retailing.
We present retailing as a major economic force in the United States and
as a significant area for career opportunities. Finally, we introduce the
approach to be used throughout this text as you study and learn about
the operation of retail firms.
LEARNING OBJECTIVES:
After reading this chapter, you should be able to:
1. Explain what retailing is and why it is undergoing so much change
today.
2. Describe the five methods used to categorize retailers.
3. Understand what is involved in a retail career and be able to list the
prerequisites necessary for success in retailing.
4. Explain the different methods for the study and practice of retailing.
What Is Retailing, and Why Is It Undergoing So Much
Change Today?LO 1
What is retailing, and
why is it undergoing so
much change today?
It is easy to take for granted the impact retailing has on our economy and lifestyle.
The full importance of this statement was recently pointed out to one of the authors
when his niece, after working in New York City and Atlanta, made a career move to a
town of 15,000 in the upper Midwest. While the town had a regular Walmart (not a
Supercenter), she was now 41 miles from a Target and Walmart Supercenter and
almost three hours from a major department store. While she now spent less time in
stores, she was frustrated by the lack of selections. As a result, her overall spending
declined. This situation illustrates the impact retailing has on the economic pros-
perity of any nation as well as the lifestyle of individuals. History has shown that the
nations that have benefited from the greatest economic and social progress have
been those with a strong retail sector.1 After all, it is retailing that is responsible for
matching the individual demands of the consumer with vast quantities of supplies
produced by a huge range of manufacturers and service providers.
Retailing’s contribution to a nation’s economic growth can be further pointed
out by these two examples. First, in 2006, the Nobel Peace Prize was given to
Bangladesh economist Muhammad Yunus and the Grameen Bank, a microretail
bank which he founded decades earlier. The prize committee recognized the
importance of financing the business aspirations of ‘‘millions of small people’’ with
c h a p t e r
1
loans as little as $20 to help some of the world’s most impoverished people start
businesses so that they could work to bring about their own development by
establishing small retail outlets that helped build the retailing sector of the
economy.
The second example can be found by looking at the impact of the world’s
largest retailer, Walmart, on the U.S. economy. One business writer suggested
tongue in cheek that Walmart, which was founded in Arkan.
Digital Banking Customer 3.0: “What Changed in the Satisfaction and Loyalty i...Fabio Mittelstaedt
Fintech Startups are bringing new banking business models focused on simple and effective customer experience based on mobile and with lower fees. And traditional Banks are struggling to face these neo banking challengers by developing new internal digital capabilities or collaborating with Fintech and even buying them. But in this new Fintech hype scenario, how is the satisfaction and loyalty of banking customers?
This consumer research report looks into the current picture of debt recovery processes in the UK and the impact they have on customers, both good and bad. We've examined the behaviours, attitudes and experiences of 1,500 UK households to paint a true picture of debt recovery and who's getting it right and wrong.
Ericsson Technology Review: Versatile Video Coding explained – the future of ...Ericsson
Continuous innovation in 5G networks is creating new opportunities for video-enabled services for both consumers and industries, particularly in areas such as the Internet of Things and the automotive sector. These new services are expected to rely on continued video evolution toward 8K resolutions and beyond, and on new strict requirements such as low end-to-end latency for video delivery.
The latest Ericsson Technology Review article explores recent developments in video compression technology and introduces Versatile Video Coding (VVC) – a significant improvement on existing video codecs that we think deserves to be widely deployed in the market. VVC has the potential both to enhance the user experience for existing video services and offer an appropriate performance level for new media services over 5G networks.
BRIDGING THE GAP BETWEEN PHYSICAL AND DIGITAL REALITIES
The key role that connectivity plays in our personal and professional lives has never been more obvious than it is today. Thankfully, despite the sudden, dramatic changes in our behavior earlier this year, networks all around the world have proven to be highly resilient. At Ericsson, we’re committed to ensuring that the network platform continues to improve its ability to meet the full range of societal needs as well as supporting enterprises to stay competitive in the long term. We know that greater agility and speed will be essential.
This issue of our magazine includes several articles that explain Ericsson’s approach to future network development, including my annual technology trends article. The seven trends on this year’s list serve as a critical cornerstone in the development of a common Ericsson vision of what future networks will provide, and what sort of technology evolution will be required to get there.
ERIK EKUDDEN
Senior Vice President, Chief Technology Officer and Head of Group Function Technology
Ericsson Technology Review: Integrated access and backhaul – a new type of wi...Ericsson
Today millimeter wave (mmWave) spectrum is valued mainly because it can be used to achieve high speeds and capacities when combined with spectrum assets below 6GHz. But it can provide other benefits as well. For example, mmWave spectrum makes it possible to use a promising new wireless backhaul solution for 5G New Radio – integrated access and backhaul (IAB) – to densify networks with multi-band radio sites at street level.
This Ericsson Technology Review article explains the IAB concept at a high level, presenting its architecture and key characteristics, as well as examining its advantages and disadvantages compared with other backhaul technologies. It concludes with a presentation of the promising results of several simulations that tested IAB as a backhaul option for street sites in both urban and suburban areas.
Ericsson Technology Review: Critical IoT connectivity: Ideal for time-critica...Ericsson
Critical Internet of Things (IoT) connectivity is an emerging concept in IoT development that enables more efficient and innovative services across a wide range of industries by reliably meeting time-critical communication needs. Mobile network operators (MNOs) are in the perfect position to enable these types of time-critical services due to their ability to leverage advanced 5G networks in a systematic and cost-effective way.
This Ericsson Technology Review article explores the benefits of Critical IoT connectivity in areas such as industrial control, mobility automation, remote control and real-time media. It also provides an overview of key network technologies and architectures. It concludes with several case studies based on two deployment scenarios – wide area and local area – that illustrate how well suited 5G spectrum assets are for Critical IoT use cases.
5G New Radio has already evolved in important ways since the 3GPP standardized Release 15 in late 2018. The significant enhancements in Releases 16 and 17 are certain to play a critical role in expanding both the availability and the applicability of 5G NR in both industry and public services in the near future.
This Ericsson Technology Review article summarizes the most notable new developments in releases 16 and 17, grouped into two categories: enhancements to existing features and features that address new verticals and deployment scenarios. This analysis and our insights about the future beyond Release 17 is an important component of our work to help mobile network operators and other stakeholders better understand and plan for the many new 5G NR opportunities that are on the horizon.
Ericsson Technology Review: The future of cloud computing: Highly distributed...Ericsson
The growing interest in cloud computing scenarios that incorporate both distributed computing capabilities and heterogeneous hardware presents a significant opportunity for network operators. With a vast distributed system (the telco network) already in place, the telecom industry has a significant advantage in the transition toward distributed cloud computing.
This Ericsson Technology Review article explores the future of cloud computing from the perspective of network operators, examining how they can best manage the complexity of future cloud deployments and overcome the technical challenges. Redefining cloud to expose and optimize the use of heterogeneous resources is not straightforward, but we are confident that our use cases and proof points validate our approach and will gain traction both in the telecommunications community and beyond.
Ericsson Technology Review: Optimizing UICC modules for IoT applicationsEricsson
Commonly referred to as SIM cards, the universal integrated circuit cards (UICCs) used in all cellular devices today are in fact complex and powerful minicomputers capable of much more than most Internet of Things (IoT) applications require. Until a simpler and less costly alternative becomes available, action must be taken to ensure that the relatively high price of UICC modules does not hamper IoT growth.
This Ericsson Technology Review article presents two mid-term approaches. The first is to make use of techniques that reduce the complexity of using UICCs in IoT applications, while the second is to use the UICCs’ excess capacity for additional value generation. Those who wish to exploit the potential of the UICCs to better support IoT applications have the opportunity to use them as cryptographic storage, to run higher-layer protocol stacks and/or as supervisory entities, for example.
Mobile data traffic volumes are expected to increase by a factor of four by 2025, and 45 percent of that traffic will be carried by 5G networks. To deliver on customer expectations in this rapidly changing environment, communication service providers must overcome challenges in three key areas: building sufficient capacity, resolving operational inefficiencies through automation and artificial intelligence, and improving service differentiation. This issue of ETR magazine provides insights about how to tackle all three.
Ericsson Technology Review: 5G BSS: Evolving BSS to fit the 5G economyEricsson
The 5G network evolution has opened up an abundance of new business opportunities for communication service providers (CSPs) in verticals such as industrial automation, security, health care and automotive. In order to successfully capitalize on them, CSPs must have business support systems (BSS) that are evolved to manage complex value chains and support new business models. Optimized information models and a high degree of automation are required to handle huge numbers of devices through open interfaces.
This Ericsson Technology Review article explains how 5G-evolved BSS can help CSPs transform themselves from traditional network developers to service enablers for 5G and the Internet of Things, and ultimately to service creators with the ability to collaborate beyond telecoms and establish lucrative digital value systems.
Ericsson Technology Review: 5G migration strategy from EPS to 5G systemEricsson
For many operators, the introduction of the 5G System (5GS) to provide wide-area services in existing Evolved Packet System (EPS) deployments is a necessary step toward creating a full-service, future-proof 5GS in the longer term. The creation of a combined 4G-5G network requires careful planning and a holistic strategy, as the introduction of 5GS has significant impacts across all network domains, including the RAN, packet core, user data and policies, and services, as well as affecting devices and backend systems.
This Ericsson Technology Review article provides an overview of all the aspects that operators need to consider when putting together a robust EPS-to-5GS migration strategy and provides guidance about how they can adapt the transition to address their particular needs per domain.
Ericsson Technology Review: Creating the next-generation edge-cloud ecosystemEricsson
The surge in data volume that will come from the massive number of devices enabled by 5G has made edge computing more important than ever before. Beyond its abilities to reduce network traffic and improve user experience, edge computing will also play a critical role in enabling use cases for ultra-reliable low-latency communication in industrial manufacturing and a variety of other sectors.
This Ericsson Technology Review article explores the topic of how to deliver distributed edge computing solutions that can host different kinds of platforms and applications and provide a high level of flexibility for application developers. Rather than building a new application ecosystem and platform, we strongly recommend reusing industrialized and proven capabilities, utilizing the momentum created with Cloud Native Computing Foundation, and ensuring backward compatibility.
The rise of the innovation platform
Society and industry are transforming at an unprecedented rate. At the same time, the network platform is emerging as an innovation platform with the potential to offer all the connectivity, processing, storage and security needed by current and future applications. In my 2019 trends article, featured in this issue of Ericsson Technology Review, I share my view of the future network platform in relation to six key technology trends.
This issue of the magazine also addresses critical topics such as trust enablement, the extension of computing resources all the way to the edge of the mobile network, the growing impact of the cloud in the telco domain, overcoming latency and battery consumption challenges, and the need for end-to-end connectivity. I hope it provides you with valuable insights about how to overcome the challenges ahead and take full advantage of new opportunities.
Ericsson Technology Review: Spotlight on the Internet of ThingsEricsson
The Internet of Things (IoT) has emerged as a fundamental cornerstone in the digitalization of both industry and society as a whole. It represents a huge opportunity not only in economic terms, but also from a global challenges perspective – making it easier for governments, non-governmental organizations and the private sector to address pressing food, energy, water and climate related issues.
5G and the IoT are closely intertwined. One of the biggest innovations within 5G is support for the IoT in all its forms, both by addressing mission criticality as well as making it possible to connect low-cost, long-battery-life sensors.
With this in mind, we decided to create a special issue of Ericsson Technology Review solely focused on IoT opportunities and challenges. I hope it provides you with valuable insights about the IoT-related opportunities available to your organization, along with ideas about how we can overcome the challenges ahead.
Ericsson Technology Review: Driving transformation in the automotive and road...Ericsson
A variety of automotive and transport services that require cellular connectivity are already in commercial operation today, and many more are yet to come. Among other things, these services will improve road safety and traffic efficiency, saving lives and helping to reduce the emissions that contribute to climate change. At Ericsson, we believe that the best way to address the growing connectivity needs of this industry sector is through a common network solution, as opposed to taking a single-segment silo approach.
The latest Ericsson Technology Review article explains how the ongoing rollout of 5G provides a cost-efficient and feature-rich foundation for a horizontal multiservice network that can meet the connectivity needs of the automotive and transport ecosystem. It also outlines the key challenges and presents potential solutions.
This presentation explains the importance of SD-WAN technology as part of the Enterprise digital transformation strategy. It goes over the first wave of SD-WAN in a single vendor deployment, with Do-it-yourself (DIY) as the preferred model. Then continues with the importance of orchestration in the second wave of SD-WAN deployments in a multi-vendor ecosystem, turning to SD-WAN Managed Services as the preferred model. It ends up with some examples of use cases and the Verizon customer case. More information on Ericsson Dynamic orchestration - http://m.eric.sn/6rsZ30psKLu
Ericsson Technology Review: 5G-TSN integration meets networking requirements ...Ericsson
Time-Sensitive Networking (TSN) is becoming the standard Ethernet-based technology for converged networks of Industry 4.0. Understanding the importance and relevance of TSN features, as well as the capabilities that allow 5G to achieve wireless deterministic and time-sensitive communication, is essential to industrial automation in the future.
The latest Ericsson Technology Review article explains how TSN is an enabler of Industry 4.0, and that together with 5G URLLC capabilities, the two key technologies can be combined and integrated to provide deterministic connectivity end to end. It also discusses TSN standards and the value of the TSN toolbox for next generation industrial automation networks.
Ericsson Technology Review: Meeting 5G latency requirements with inactive stateEricsson
Low latency communication and minimal battery consumption are key requirements of many 5G and IoT use cases, including smart transport and critical control of remote devices. Thanks to Ericsson’s 4G/5G research activities and lessons learned from legacy networks, we have identified solutions that address both of these requirements by reducing the amount of signaling required during state transitions, and shared our discoveries with the 3GPP.
This Ericsson Technology Review article explains the why and how behind the new Radio Resource Control (RRC) state model in the standalone version of the 5G New Radio standard, which features a new, Ericsson-developed state called inactive. On top of overcoming latency and battery consumption challenges, the new state also increases overall system capacity by decreasing the processing effort in the network.
Ericsson Technology Review: Cloud-native application design in the telecom do...Ericsson
Cloud-native application design is set to become standard practice in the telecom industry in the near future due to the major efficiency gains it can provide, particularly in terms of speeding up software upgrades and releases. At Ericsson, we have been actively exploring the potential of cloud-native computing in the telecom industry since we joined the Cloud Native Computing Foundation (CNCF) a few years ago.
This Ericsson Technology Review article explains the opportunities that CNCF technology has enabled, as well as unveiling key aspects of our application development framework, which is designed to help navigate the transition to a cloud-native approach. It also discusses the challenges that the large-scale reuse of open-source technology can raise, along with key strategies for how to mitigate them.
Ericsson Technology Review: Service exposure: a critical capability in a 5G w...Ericsson
To meet the requirements of use cases in areas such as the Internet of Things, AR/VR, Industry 4.0 and the automotive sector, operators need to be able to provide computing resources across the whole telco domain – all the way to the edge of the mobile network. Service exposure and APIs will play a key role in creating solutions that are both effective and cost efficient.
The latest Ericsson Technology Review article explores recent advances in the service exposure area that have resulted from the move toward 5G and the adoption of cloud-native principles, as well as the combination of Service-based Architecture, microservices and container technologies. It includes examples that illustrate how service exposure can be deployed in a multitude of locations, each with a different set of requirements that drive modularity and configurability needs.
Tata Group Dials Taiwan for Its Chipmaking Ambition in Gujarat’s DholeraAvirahi City Dholera
The Tata Group, a titan of Indian industry, is making waves with its advanced talks with Taiwanese chipmakers Powerchip Semiconductor Manufacturing Corporation (PSMC) and UMC Group. The goal? Establishing a cutting-edge semiconductor fabrication unit (fab) in Dholera, Gujarat. This isn’t just any project; it’s a potential game changer for India’s chipmaking aspirations and a boon for investors seeking promising residential projects in dholera sir.
Visit : https://www.avirahi.com/blog/tata-group-dials-taiwan-for-its-chipmaking-ambition-in-gujarats-dholera/
Digital Transformation and IT Strategy Toolkit and TemplatesAurelien Domont, MBA
This Digital Transformation and IT Strategy Toolkit was created by ex-McKinsey, Deloitte and BCG Management Consultants, after more than 5,000 hours of work. It is considered the world's best & most comprehensive Digital Transformation and IT Strategy Toolkit. It includes all the Frameworks, Best Practices & Templates required to successfully undertake the Digital Transformation of your organization and define a robust IT Strategy.
Editable Toolkit to help you reuse our content: 700 Powerpoint slides | 35 Excel sheets | 84 minutes of Video training
This PowerPoint presentation is only a small preview of our Toolkits. For more details, visit www.domontconsulting.com
What is the TDS Return Filing Due Date for FY 2024-25.pdfseoforlegalpillers
It is crucial for the taxpayers to understand about the TDS Return Filing Due Date, so that they can fulfill your TDS obligations efficiently. Taxpayers can avoid penalties by sticking to the deadlines and by accurate filing of TDS. Timely filing of TDS will make sure about the availability of tax credits. You can also seek the professional guidance of experts like Legal Pillers for timely filing of the TDS Return.
Cracking the Workplace Discipline Code Main.pptxWorkforce Group
Cultivating and maintaining discipline within teams is a critical differentiator for successful organisations.
Forward-thinking leaders and business managers understand the impact that discipline has on organisational success. A disciplined workforce operates with clarity, focus, and a shared understanding of expectations, ultimately driving better results, optimising productivity, and facilitating seamless collaboration.
Although discipline is not a one-size-fits-all approach, it can help create a work environment that encourages personal growth and accountability rather than solely relying on punitive measures.
In this deck, you will learn the significance of workplace discipline for organisational success. You’ll also learn
• Four (4) workplace discipline methods you should consider
• The best and most practical approach to implementing workplace discipline.
• Three (3) key tips to maintain a disciplined workplace.
Unveiling the Secrets How Does Generative AI Work.pdfSam H
At its core, generative artificial intelligence relies on the concept of generative models, which serve as engines that churn out entirely new data resembling their training data. It is like a sculptor who has studied so many forms found in nature and then uses this knowledge to create sculptures from his imagination that have never been seen before anywhere else. If taken to cyberspace, gans work almost the same way.
[Note: This is a partial preview. To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
Sustainability has become an increasingly critical topic as the world recognizes the need to protect our planet and its resources for future generations. Sustainability means meeting our current needs without compromising the ability of future generations to meet theirs. It involves long-term planning and consideration of the consequences of our actions. The goal is to create strategies that ensure the long-term viability of People, Planet, and Profit.
Leading companies such as Nike, Toyota, and Siemens are prioritizing sustainable innovation in their business models, setting an example for others to follow. In this Sustainability training presentation, you will learn key concepts, principles, and practices of sustainability applicable across industries. This training aims to create awareness and educate employees, senior executives, consultants, and other key stakeholders, including investors, policymakers, and supply chain partners, on the importance and implementation of sustainability.
LEARNING OBJECTIVES
1. Develop a comprehensive understanding of the fundamental principles and concepts that form the foundation of sustainability within corporate environments.
2. Explore the sustainability implementation model, focusing on effective measures and reporting strategies to track and communicate sustainability efforts.
3. Identify and define best practices and critical success factors essential for achieving sustainability goals within organizations.
CONTENTS
1. Introduction and Key Concepts of Sustainability
2. Principles and Practices of Sustainability
3. Measures and Reporting in Sustainability
4. Sustainability Implementation & Best Practices
To download the complete presentation, visit: https://www.oeconsulting.com.sg/training-presentations
Discover the innovative and creative projects that highlight my journey throu...dylandmeas
Discover the innovative and creative projects that highlight my journey through Full Sail University. Below, you’ll find a collection of my work showcasing my skills and expertise in digital marketing, event planning, and media production.
Attending a job Interview for B1 and B2 Englsih learnersErika906060
It is a sample of an interview for a business english class for pre-intermediate and intermediate english students with emphasis on the speking ability.
VAT Registration Outlined In UAE: Benefits and Requirementsuae taxgpt
Vat Registration is a legal obligation for businesses meeting the threshold requirement, helping companies avoid fines and ramifications. Contact now!
https://viralsocialtrends.com/vat-registration-outlined-in-uae/
What are the main advantages of using HR recruiter services.pdfHumanResourceDimensi1
HR recruiter services offer top talents to companies according to their specific needs. They handle all recruitment tasks from job posting to onboarding and help companies concentrate on their business growth. With their expertise and years of experience, they streamline the hiring process and save time and resources for the company.
Premium MEAN Stack Development Solutions for Modern BusinessesSynapseIndia
Stay ahead of the curve with our premium MEAN Stack Development Solutions. Our expert developers utilize MongoDB, Express.js, AngularJS, and Node.js to create modern and responsive web applications. Trust us for cutting-edge solutions that drive your business growth and success.
Know more: https://www.synapseindia.com/technology/mean-stack-development-company.html
Kseniya Leshchenko: Shared development support service model as the way to ma...Lviv Startup Club
Kseniya Leshchenko: Shared development support service model as the way to make small projects with small budgets profitable for the company (UA)
Kyiv PMDay 2024 Summer
Website – www.pmday.org
Youtube – https://www.youtube.com/startuplviv
FB – https://www.facebook.com/pmdayconference
Memorandum Of Association Constitution of Company.pptseri bangash
www.seribangash.com
A Memorandum of Association (MOA) is a legal document that outlines the fundamental principles and objectives upon which a company operates. It serves as the company's charter or constitution and defines the scope of its activities. Here's a detailed note on the MOA:
Contents of Memorandum of Association:
Name Clause: This clause states the name of the company, which should end with words like "Limited" or "Ltd." for a public limited company and "Private Limited" or "Pvt. Ltd." for a private limited company.
https://seribangash.com/article-of-association-is-legal-doc-of-company/
Registered Office Clause: It specifies the location where the company's registered office is situated. This office is where all official communications and notices are sent.
Objective Clause: This clause delineates the main objectives for which the company is formed. It's important to define these objectives clearly, as the company cannot undertake activities beyond those mentioned in this clause.
www.seribangash.com
Liability Clause: It outlines the extent of liability of the company's members. In the case of companies limited by shares, the liability of members is limited to the amount unpaid on their shares. For companies limited by guarantee, members' liability is limited to the amount they undertake to contribute if the company is wound up.
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Capital Clause: This clause specifies the authorized capital of the company, i.e., the maximum amount of share capital the company is authorized to issue. It also mentions the division of this capital into shares and their respective nominal value.
Association Clause: It simply states that the subscribers wish to form a company and agree to become members of it, in accordance with the terms of the MOA.
Importance of Memorandum of Association:
Legal Requirement: The MOA is a legal requirement for the formation of a company. It must be filed with the Registrar of Companies during the incorporation process.
Constitutional Document: It serves as the company's constitutional document, defining its scope, powers, and limitations.
Protection of Members: It protects the interests of the company's members by clearly defining the objectives and limiting their liability.
External Communication: It provides clarity to external parties, such as investors, creditors, and regulatory authorities, regarding the company's objectives and powers.
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Binding Authority: The company and its members are bound by the provisions of the MOA. Any action taken beyond its scope may be considered ultra vires (beyond the powers) of the company and therefore void.
Amendment of MOA:
While the MOA lays down the company's fundamental principles, it is not entirely immutable. It can be amended, but only under specific circumstances and in compliance with legal procedures. Amendments typically require shareholder
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2. Contents
Ericsson ConsumerLab has more than 15 years experience
of studying people’s behaviors and values, including the
way they act and think about ICT products and services.
Ericsson ConsumerLab provides unique insights on market
and consumer trends.
Ericsson ConsumerLab gains its knowledge through a
global consumer research program based on interviews with
100,000 individuals each year, in more than 40 countries and
15 megacities – statistically representing the views of
1.1 billion people. Both quantitative and qualitative methods
are used, and hundreds of hours are spent with consumers
from different cultures.
To be close to the market and consumers, Ericsson
ConsumerLab has analysts in all regions where
Ericsson is present, which gives a thorough global
understanding of the ICT market and business models.
All ConsumerLab reports can be found at
www.ericsson.com/consumerlab
A BOOMING CONSUMER MARKET
STILL VERY MUCH A ‘CASHONOMY’
THE IMPORTANCE OF CONSUMER CONTROL
FAVORABLE CONDITIONS FOR M-COMMERCE
STRUGGLERS AND ACHIEVERS
SAFETY AND CONVENIENCE: KEY DRIVERS
SCEPTICISM AND KNOWLEDGE BARRIERS
THE CULTURAL LEGACY OF DISTRUST
UNLOCKING FUTURE POTENTIAL
3
4
5
6
7
8
9
10
11
2 ERICSSON CONSUMERLAB M-COMMERCE IN LATIN AMERICA
Argentina
21% 30% 31% 28% 31%
BRazil Chile Mexico
Figure 1: Current Use of M-commerce
M-commerce
Mobile banking
Mobile wallet
Mobile shopping
Source: Ericsson ConsumerLab, Analytical Platform, 2012 Base: Internet users (Argentina, Brazil, Chile, Colombia, Mexico)
12% 20% 20% 20% 18%
7% 13% 11% 10% 12%
11% 15% 15% 14% 17%
Introduction
A wide range of mobile financial services – mobile pay-
ments, remittances and banking, exist in Latin America
but the market is largely fragmented and current use is
low. However, smartphone penetration in Latin America is
increasing rapidly and consumer interest in m-commerce is
at an all-time high.
Ericsson ConsumerLab has conducted a study into the
possibilities of widespread m-commerce adoption in Latin
America through interviews and studies in Brazil, Argentina,
Chile, Mexico and Colombia. With this report, we examine
consumer behavior and customs, the key drivers and bar-
riers to using mobile financial services, and how m-com-
merce can gain ground.
Colombia
3. A booming
consumer market
Latin America is a diverse continent, both culturally and
economically. On one hand, there is great prosperity, but on
the other, a unique set of challenges. The region is character-
ized by wide-ranging consumer profiles, representing varying
social conditions and a deep division between the richest
and the poorest. The markets covered in this study regularly
produce resilient annual GDP growth and reached nearly 3.5
percent in the last year alone.
Social mobility is common in the region. Over the past
decade, Latin America’s middle class grew 50 percent - the
equivalent of 50 million consumers. The middle class now
represents 30 percent of the population. Regardless, many
millions of people have been left behind, with poverty levels
ranging from 15 percent in Chile, to 50 percent in Mexico.
> Convenience Is a Key Driver
of M-commerce
The main driver for m-commerce among Latin
Americans is convenience. Depending on eco-
nomic status and financial inclusion, the con-
venience m-commerce can bring is expressed
in different ways. For unbanked consumers, in
this report referred to as ‘strugglers’, the main
benefit would be avoiding time-consuming lines
when paying bills. For consumers who already are
banked, ‘achievers’, m-commerce would mean
a more flexible everyday life, where payments,
shopping and other transfers can be handled
from anywhere at any time.
> Security and Control Essential
for Latin Americans
Latin America can be described as a ‘cashono-
my’, where cash is still the most common means
of payment for consumers. A majority of them
handle their economy exclusively in cash. While
cash is seen as convenient and easy to use, the
major drawback is safety concerns. The very
thought of not having to handle cash, or even
cards, is seen as a key benefit of m-commerce,
however hard to grasp since it still is a novel
concept. Control over one’s own economy is also
important for consumers; many of which keep
detailed budgets as well as record of expenses.
Having complete control over spending is impor-
tant, especially among ‘strugglers’ with lesser
economic margins.
> Widespread Consumer Distrust in
Institutions and Network Performance
Overall consumer distrust in institutions is an
obstacle in Latin America. Consumers are inher-
ently cautious and question the ability of the
mobile channel to deliver reliable and secure
m-commerce solutions. The consumer perception
that m-commerce transactions can be interrupted
or disturbed by an unreliable Internet connection
is a common fear. It is therefore paramount to im-
prove network reliability, and customer relations,
to build consumer trust. Another major barrier is
lack of knowledge. In order for consumers to fully
embrace m-commerce services, education and
validation from independent and trusted parties
are key factors. Government regulations to protect
the consumer are also imperative to gain trust.
key findings
ERICSSON CONSUMERLAB M-COMMERCE IN LATIN AMERICA 3
Figure 2: The Growth of the Middle Class in Latin America and the Caribbean, 1995-2010
Source: The World Bank, Economic Mobility and the Rise of The Latin American Middle Class, 2012
Poor (US$0-US$4 a day)
Middle class and rich (>US$10 a day)
Vulnerable (US$4-US$10 a day)
1995
Middle Class Growth
(US$10-US$50 a day)
2010
39%
46%
23%
33%
36%
21%
41%
million people
2003 2009
million people
4. Still very much
a ‘cashonomy’
Figure 3: Financial Inclusion in Latin America
61%
48%
of the population is unbanked
of the labor force is informally employed
An Economy Built on Cash
In most markets in the study, ongoing regulation is tak-
ing place with the objective of financial inclusion. However,
Latin America is still very much a ‘cashonomy’. Whenever
and wherever possible, consumers in the region choose to
pay with cash, regardless of socioeconomic status. Infor-
mal workers receive their salary in cash and formal workers
often use an ATM to withdraw most or all of their salary on
pay day. Many save money at home rather than relying on a
bank account. This is especially common among low income
consumers.
In many places, cash is the only acceptable means of pay-
ment. Consumers simply need to carry cash with them to
make sure they are able to pay for a taxi fare, grocery shop-
ping at a local store, or when paying for certain goods or
services. It’s not uncommon for household bills to be paid
in cash too, especially when it comes to rent.
The Tangibility of Cash
Using cash is a natural part of people’s lives, and little
thought is given to why. Among consumers, cash is consid-
ered a fast, convenient and transparent means of payment
that provides a great sense of control over one’s spending.
Some stores that accept debit and credit cards implement
two queues for the customers – one queue for card pay-
ments and one for cash payments. Naturally, consumers
often find the cash queue faster.
Just as different discounts can be linked to specific credit
cards, paying in cash can also result in a discounted price in
for example Brazil, Argentina and Colombia.
Safety Issues a Concern
A big disadvantage of using cash is safety concerns. Crimi-
nality is a major concern in the everyday life in all markets in
the study, and many have first-hand experience of robberies.
Thus, consumers have developed individual strategies that
increase their sense of safety when forced to handle large
sums of cash. Keeping the money hidden close to the body
is one way of feeling more safe.
Conspicuous Consumption
Status purchases such as flat screen TVs, high-end smart-
phones and clothes from international brands, are prevalent
especially among middle class consumers. It is a way for
people to show others that they have accomplished a cer-
tain economic status. In order to afford it, large purchases
like these are often bought in installments, and it is not
unusual to be on multiple plans at the same time.
The bigger dream in people’s lives seem to revolve around
aspirations less conspicuous, such as buying your own
home, a new car, or perhaps even travelling or working
abroad.
“When I buy food I always pay cash with
the money I get from an ATM. That’s
because I have a hard time realizing
how much I spend when I use debit.”
— Male, 30, Argentina
4 ERICSSON CONSUMERLAB M-COMMERCE IN LATIN AMERICA
Sources: World Bank Global Financial Inclusion Database, 2012
and International Labour Office, Labour overview, 2012
5. The importance of
consumer control
Control Over One’s Economy Important
People stress the importance of being in control over their
own economy. Many wage-earners begin each month by
settling all monthly bills, mortgage payments and rent. This
provides an overview of the means available for the rest of
the month.
Forgetting to pay bills on time is a major concern, mostly
due to the inconvenience of having to physically go to the
bank or to the bill recipient to pay in case of a missed due
date. This is prevalent in several of the countries in the study.
Detailed Accounting of Household Economy
The need for control manifests itself in the form of detailed
accounting of household incomes and expenditures. Budg-
eting is often quite formal and it is common to use note-
books or Excel sheets.
Control over one’s finances is important to the average
Latin American. Many people choose to keep records of
payments to avoid future problems. Payment verifications
are stored for a long time as evidence in case the payment is
challenged or for tax reasons. Payment verification via e-mail
or SMS is considered favorable.
Concerns Over Spending
Many consumers, independent of economic status, find it
difficult to control spending if funds are available. Despite
difficulty to control spending, middle and high-income earn-
ers appreciate constant access to their money. However,
low-income earners with more strained economies do not
find high accessibility as attractive.
Cash gives people a high degree of control over expenses,
but limits accessibility of funds in case of need. On the other
hand, cards and m-commerce solutions make funds readily
available, but increase the risk of overspending.
Cautiousness to Debt
Fear of debt, both from private loans and credit cards, is
commonplace, especially among low-income consumers.
Loans are considered both risky and costly, and many con-
sumers strive to repay loans as quickly as possible.
The purpose of loans differs between higher and lower
income consumers. Low-income consumers take loans
primarily to cover unforeseen expenses or to cover daily
expenses when their income fluctuates. Middle and high-
income consumers use loans for larger expenses, such as
buying a home or a car. Both consumer groups however
consider buying a home the most legitimate reason to take
a loan.
”If a bill is lying on the table in the
living room I’m afraid I will forget
about it. So I put reminders on the
mobile phone and on the fridge.
Once I forgot to pay for my medical
insurance. The next month I had
to pay for two months, it was
a lot.”
— Female, 43, Argentina
ERICSSON CONSUMERLAB M-COMMERCE IN LATIN AMERICA 5
6. Many Consumers Lack Access
to Financial Services
A large portion of the Latin American population is left out-
side of the financial system, receiving their incomes in cash
and lacking bank affiliations, savings accounts, and credit or
debit cards.
At the same time, mobile penetration is high and smart-
phone adoption is increasing rapidly. In 2017, the smart-
phone penetration in the region is estimated to be over 60
percent*.
The low financial inclusion combined with the high mobile
penetration is opening up opportunities for m-commerce in
Latin America. Among consumers currently excluded from
the financial system, but connected through their mobile
phones, m-commerce can provide an attractive alternative
to traditional financial services.
From E- to M-commerce
Experience of online shopping, for items such as clothes,
electronics goods, and even food, is common among the
region’s achievers. The online marketplace Mercadolibre,
the largest e-commerce ecosystem in Latin America, is very
popular in the region.
Migration from e- to m-commerce is evident across this
vast region. Seven percent of Mercadolibre’s sales is via the
mobile channel. PayPal recently reported that 15 percent of
sales in Brazil and Mexico was carried out via mobile chan-
nels last year, and that this figure is increasing all the time.
Groupon, a deal-of-the-day website, reports that between
five and ten percent of sales is done via mobile in the region.
Searching for Deals and Discounts
It is common for a great number of consumers to seek out
deals and discounts at stores, supermarkets and shopping
malls. The degree to which consumers do this naturally cor-
responds to their financial situation – the more affluent the
less price hunting.
Consumers are interested in using their mobile phone for
this purpose. Two out of three consumers in the study say
they are interested in getting good deals and save money
using special offers or coupons on their mobile.
favorable conditions
for m-commerce
74%
Sources: World Bank Global Financial Inclusion Database, 2012 and Ericsson ConsumerLab, Analytical Platform, 2012
*Source: Source: Pyramid Telecom Insider Nov 2012
Figure 4: Low Financial Inclusion, High Mobile Penetration
6 ERICSSON CONSUMERLAB M-COMMERCE IN LATIN AMERICA
145%
134%
152%
106%
87%
24%
15%
25%
20% 20%22%
29%
23%
10% 13%
33%
56%
42%
30% 27%
160
140
120
100
80
60
40
20
0
Argentina Brazil Chile Colombia Mexico
66% 42% 44%
Mobile
banking
Mobile
wallet
Mobile
shopping
Source: Ericsson ConsumerLab, Analytical Platform, 2012
Base: Non-users of M-commerce
(Argentina, Brazil, Chile, Colombia, Mexico)
Have/Use Bank Product
Mobile Penetration
Smartphone Penetration
Have/Use Credit Card
who are not using m-commerce today are interested in
starting to use at least one m-commerce service on their
mobile phone.
7. Strugglers
and achievers
Two Key Segments for M-commerce
Six out of ten in Latin America are unbanked, either because
they do not have the possibility to open an account or sim-
ply don’t have any interest in affiliating themselves with a fi-
nancial institution. Their income is received in cash or check,
sometimes on a day to day basis, and can also fluctuate in
the course of a year. For this consumer group, referred to as
‘strugglers’ in this report, cash is the only means of pay-
ment, since they rarely have access to or interest in other
financial services. Cash is considered a transparent and
easy means of payment, and a way to control one’s
spending.
Four out of ten have access to bank products, such as sav-
ings accounts, debit and credit cards, even though far from
all fully take advantage of these services. These consumers
constitute another important segment for m-commerce that
is expanding continously in the region: ‘achievers’. They are
often formal workers, receiving a fixed salary on a monthly
basis, deposited into an account. Credit cards and paying
in installments are common among achievers, who often are
middle or high income earners, and have a higher education
level than strugglers. They have the economic margins allow-
ing for leisure consumption to a higher degree, and embrace
new technology they can benefit from in their daily lives.
Both Segments can Benefit from M-commerce
Mobile penetration is high among both consumer groups,
making them potential users of m-commerce services. De-
pending on specific needs, key barriers and drivers differ to
some extent between the groups.
One concrete example of an m-commerce service that
would be appreciated by achievers is mobile payments,
while strugglers would find mobile remittances convenient
and easy.
Source: Ericsson ConsumerLab, M-Commerce in Latin America, 2013Figure 5: Two different segments for m-commerce
Two Segments for M-commerce
ERICSSON CONSUMERLAB M-COMMERCE IN LATIN AMERICA 7
> Low income, sometimes fluctuating
> Informal workers, ‘independents’
> Unbanked/underbanked
> Cash is only means of payment
> Occasionally use credit, but don’t like it
> Feature phone or low-end smartphone
> Low awareness and use of new technology
> Higher income, monthly salary
> Formal workers, self-employed
> Banked/financially included
> Prefer cards over cash
> Frequently use credit, and like it
> High-end smartphone
> Embrace new technology
STRUGGLERS ACHIEVERS
Acknowledging the economic development of the region also means acknowledging the different conditions
under which consumers live and work. On one hand there is the rising middle class, already in or rapidly
moving towards financial inclusion, and on the other hand there are the majority of not yet financially
included consumers.
8. SAFETY AND
CONVENIENCE:
KEY DRIVERS
The main driver for m-commerce is convenience, primarily manifested in not having to stand in time-consuming
lines and being able to spend, send and receive money from any location, any time of the day or night.
Safety Important for Consumers
Among strugglers, the main advantage of m-commerce is
the possibility of avoiding handling large amounts of cash,
for example when paying household bills at remote loca-
tions. Achievers have a similar viewpoint, perceiving m-
commerce as a way of getting rid of the necessity to carry
cash or even plastic cards in public. One Brazilian consumer
interviewed in the study expresses it as: “Nowadays anyone
can steal your card, and your password. But with the mobile
phone a criminal will not know that you have money in there.”
Less Waiting Is a Major Advantage
Waiting in line is a major hassle in all markets. Many hours
are spent at banks, ATMs and locations where consumers
are paying their bills, taking up valuable time from their lives
on a regular basis. Spending time in queues to pay bills also
generates a sense of insecurity, as consumers then need to
carry large sums of cash in a crowd of people.
The desire to avoid queues is especially apparent among
strugglers, who almost exclusively use cash to manage their
economy.
M-commerce Allows Flexibility
On the other hand, achievers appreciate the possibility to
handle their economy anywhere at any time of the day or
night. To be able to carry out payments while travelling, com-
muting or from the comfort of one’s home, and pay bills with
short due dates after banking hours are a couple of concrete
and significant upsides of m-commerce. In many areas in
Latin America, bank offices are rather scarce, whereas
mobile operator agents are more common.
Providing Control
Another aspect of m-commerce is that it can provide a
sense of control, something that is of great importance to
Latin American consumers. Keeping track of transactions,
past and future bill payments and purchases is common
in Latin America, and many keep detailed budgets as well
as records of expenses. The mobile phone can act as a
facilitator in this regard, by letting users save verifications
and receipts in a digital format, receive notifications when
transactions are being made, facilitating bill payments on
time and acting as a budgeting tool.
Education, Trust and Transparency
However, to fully tend to the strong consumer need of being
in control when using m-commerce services, it’s important
that transactions are transparent to make consumers feel
absolutely reassured. One example of this could be instant
verifications when money is withdrawn, inserted or in other
ways transferred.
Another key prerequisite that needs to be fulfilled is trust,
both in the provider and in the service itself. Consumer faith
in service providers to supply reliable and secure Internet
connections is low.
Most importantly, Latin American consumers need to be
educated on the possibilities of m-commerce, since the
general knowledge of m-commerce services still is very low
in the region, especially among strugglers.
“I value time in my life, not wasting time doing things. Anything that makes me save time
is very valuable for me. I quit paying my bills in cash and passed them to debit because I
don’t want queues in my life.”
— Male, 26, Argentina
Safety
No queuing
Mobility
Independence
Control
Independence
No queuing
Safety
Mobility
Control
Figure 8: Drivers for m-commerce
STRUGGLERS ACHIEVERS
Source: Ericsson ConsumerLab, M-Commerce in Latin America, 2013
Drivers for M-commerce
8 ERICSSON CONSUMERLAB M-COMMERCE IN LATIN AMERICA
9. SCEPTICISM AND
KNOWLEDGE BARRIERS
Current adoption of m-commerce services is low in Latin America. The main barriers are lack of trust in the ser-
vice, lack of network quality and a general lack of knowledge about m-commerce services among consumers.
Lack of Security and Network Reliability
are Major Concerns
Network reliability is the most important barrier among
achievers, and it’s also crucial for strugglers. Current
poor coverage and network stability in all markets are key
concerns that impact how consumers regard m-commerce
services. The perception that m-commerce transactions can
be interrupted or disturbed by unreliable Internet connec-
tion is a common fear which makes consumers reluctant to
adopt m-commerce services.
Other barriers connected to security concerns are fear of
losing one’s mobile phone and fear of someone hacking
one’s account. Consumers are worried they will not be able
to get their money back in case of a crime, a concern that is
tightly connected to a current lack of reliable and easy-to-
reach customer support.
Lack of Knowledge Spurs Concern
The general knowledge of m-commerce and its possibilities
is low in Latin America, especially among strugglers, leading
to misconceptions and distrust and slowing m-commerce
adoption.
Another important barrier for strugglers is having to pay
service fees. As cash is free to use, consumers are naturally
hesitant towards paying for a payment solution, especially
since they are not aware of the benefits m-commerce
brings.
“At the beginning I felt unsafe and I did
not use m-banking, but then I asked the
people that already used it if it was safe.
They reassured me and I started to use
these services.”
— Male, 24, Brazil
Lack of knowledge
High service fees
Poor security
Unreliable network
Absence of transparency
Inaccessibility
Unreliable network
Lack of transparency
Poor user interface
Absence of security
Inaccessibility
Figure 7: Barriers for m-commerce Source: Ericsson ConsumerLab, M-Commerce in Latin America, 2013
Barriers for M-commerce
ERICSSON CONSUMERLAB M-COMMERCE IN LATIN AMERICA 9
STRUGGLERS ACHIEVERS
10. THE CULTURAL
LEGACY OF DISTRUST
Distrust of Institutions Common
Among Latin American consumers, distrust of institutions is
widespread, even though few have any first-hand experience
to base this feeling upon. The skepticism towards institutions
revolves around three common perceptions.
> Institutions are historically regarded as part of the estab-
lishment, primarily serving the interests of those in power
and the wealthy.
> Repeated news of official misconduct and corrup-
tion fuels the common belief that institutions are not to
be trusted.
> The level of service and customer friendliness of institu-
tions is considered low. This is also true when it comes to
mobile operators.
Beyond perceived poor or non-existent customer support,
the main reason for consumers’ distrust of operators is the
notion of unreliable network quality and poor performance.
Consumers are also sensitive to high or hidden fees.
Banks Most Trusted Provider of M-commerce
In regard to banks, consumers’ relationship is usually quite
instrumental and hence loyalty tends to be low. It is not
unusual for banked consumers to have accounts with multi-
ple banks. The lack of interoperability between banks is also
considered a problem in some markets.
However, consumers tend to view banks as the preferred
provider of m-commerce services. Security is important
among Latin Americans, and since keeping money safe is
banks’ core business, consumers perceive them as more
trustworthy than other players in this regard.
Another aspect of making consumers feel safer is the
adoption of regulations that safeguard consumer rights
and security.
“If there was an unexpected expense, I
would ask someone in my family for money.
Even if it was a big amount, I would still
ask someone I know. Rather than going
to a bank.”
— Female, 39, Chile
Figure 6: Preferred M-commerce Provider
10 ERICSSON CONSUMERLAB M-COMMERCE IN LATIN AMERICA
A bank
A mobile network provider/carrier
A large retail store
A bank credit card provider
A mobile handset brand
Source: Ericsson ConsumerLab, Analytical Platform, 2012
Base: User or interested in mobile wallet (Argentina, Brazil, Chile, Colombia, Mexico)
Mexico 51%
14%
9%
12%
14%
Colombia 63%
9%
5%
6%
17%
Chile 56%
15%
11%
6%
11%
Argentina 43%14%
9%
26%
7%
Brazil 50%
14%
7%
21%
8%
11. For m-commerce to gain ground in Latin America, consumer needs on all levels have to be addressed
- by getting necessary regulation in place and adjusting basic prerequisites to the mode of communication.
Methodology
The data in this report comes from qualitative,
in-depth interviews as well as expert interviews
and quantitative data.
Unlocking future
potential
One important prerequisite for m-commerce is building trust:
both institutional trust on a broad level and trust in mobile
operators in particular. Lack of network quality, speed and
coverage as well as perceived poor customer support have
had a negative effect on the confidence in mobile operators.
Government regulations to protect the consumer is also im-
perative to gain trust by making m-commerce more secure.
The overall lack of consumer confidence suggests that stra-
tegic alliances between different types of players might be
necessary. Successfully launching m-commerce on a broad
scale would most likely require cooperation rather than com-
peting alternatives which could fuel consumer doubt. While
banks are the most trusted institution to handle money,
mobile operators are trusted as a facilitating intermediary,
since they are the link between the mobile device and the
network. Retailers can in turn provide convenient access to
customers in store.
M-commerce services need to be developed based on key
drivers for the two segments; control, safety and conveni-
ence. For strugglers, basic mobile banking solutions would
provide safety and control, while mobile payments would
be convenient for achievers, who appreciate not having to
handle cash at all.
When communicating around m-commerce services,
education and validation from independent and trusted
parties are key factors, since knowledge of m-commerce
and its advantages is scarce in Latin America.
Figure 9: Pyramid of Consumer Needs
ERICSSON CONSUMERLAB M-COMMERCE IN LATIN AMERICA 11
Source: Ericsson ConsumerLab, M-Commerce in Latin America, 2013
Ericsson ConsumerLab,
M-Commerce in Latin America, 2013
50 in-depth consumer interviews in São Paulo,
Bogota, Buenos Aires, Santiago and Mexico
City, including consumer diaries
25 of the interviews were conducted in
repondents’ homes and followed by shop-alongs
30 expert interviews with leading professionals from
the m-commerce ecosystem in Latin America
January - April 2013
Argentina, Brazil, Chile, Colombia, Mexico
> 4,080 online interviews, age 16-60
May 2012
Ericsson ConsumerLab, Analytical Platform, 2012
Features
Services
Trust
Context
Consumers require transparency, traceability and ease of use in
order to adopt fully.
Consumers need services based on the key drivers for the segments:
control, safety and convenience.
Education and validation from independent and trusted parties
are key factors.
Regulations to protect the consumer need to be in place.