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I-want-it-now-now-now: Google 'buy' button is here

Google

Call it the 'I-want-it-now-now-now' economy.

Google buy buttons are now on mobile search.

At a press event in New York City Wednesday, the search giant announced a suite of new mobile tools designed to speed up the retail process even faster.

One new enhancement reveals product ratings and store locators at the touch of a swipe.

Another tool, Purchase on Google, allows instantaneous purchases through sponsored search results.

Google's retail partners, right now about a "dozen or so," handle actual product fulfillment orders.

Google said it plans to add more retail partners by late 2015 and early 2016.

Today's launch moves Google much closer in competition with Amazon in the e-commerce wars.

Jonathan Alferness, vice president of Google Shopping, explained how new products can hopefully simplify the discovery and purchase process.

"With shoppers today, big expectations come from the smallest moments. That's good news, because retailers now have the technology to deliver on those expectations. The tools we shared this week can help retailers be there in those billions (and trillions!) of micro-moments with the right experience, and in the right context, to win the moments that matter the most."

CNBC Contributor and retail analyst Stacey Widlitz told CNBC's "Power Lunch" Wednesday expandable shopping ads that increase mobile engagement and sales are here to stay.

"Any online tools that give the consumer more power of information will accelerate the shift away from brick and mortar. Ease of price comparison, reviews and product details at the click of a button will continue to drive consumers to stay out of the stores--not a great story for physical retail which depends on "impulse purchases" for those high gross margin product sales."

According to Google, last year nearly one trillion dollars - 28 percent of all retail sales -were influenced by shopping-related mobile searches.