Wealthy Smartphone Owners Catching on to Mobile Commerce

Although just 14% of wealthy consumers (with a minimum gross annual income of $150,000) who own a smartphone say they regularly use their device to shop for products and services, overall two-thirds do so at least rarely, finds the Luxury Institute in March 2012 survey results. Among the one-third who never shop on their device, by far the leading reason for not doing so is a preference for the in-store shopping experience (61%), followed by privacy and security concerns (29%). (more…)