Michael Zimmerman of Hedge Fund Prentice Capital on the mCommerce Shift

GREENWICH, Conn., April 4, 2014 /PRNewswire/ -- Michael Zimmerman's hedge fund Prentice Capital believes up to 80% of consumers will embrace mCommerce in 2014, and anticipates significant increases in the amount of money shoppers spend online via mobile.

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This view is supported by research published in a report from mobile ad network InMobi which states that 83% of surveyed respondents plan to use mobile commerce in the next 12 months with a further 48% of respondents using mobile to influence their purchasing decisions [1].

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 $25-$100. 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% MoM in February. The increase was led by a large jump in non-store retailers, which saw an impressive 1.3% MoM increase and 6.8 percent compared with the same period last year [2].

"[The] positive retail sales report indicates that the economy is primed for growth," NRF President and CEO Matthew Shay said. [2]

With parabolic mCommerce sales trends, optimizing for mobile shoppers by developing a mobile commerce web site or responsive design site, and possibly a mobile app - is a must today for retailers of all sizes. Otherwise, Zimmerman believes, they will lose a huge amount of traffic from online customers who only visit and shop on mobile devices.

Scott Galloway, an NYU Stern professor of marketing and creator of L2, stated, "Given the evidence, we seem to be entering the start of a persistent mobile age ... Brands ignore this shift at their own peril." [3]

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. Zimmerman also sits as Chairman of the Board of directors at dELiA*s Inc.

Sources
[1] InMobi mCommerce Report - February 19, 2014
[2] Retail Sales Rebound In February - March 13, 2014 NRF
[3] "High-End Brands Are Missing the Boat on Mobile, Study Finds" - Mashable, 11 Jan. 2012

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SOURCE Prentice Capital