Coupofy analysis shows that mobile shopping is gaining momentum
Coupofy, a leading database of online coupon codes, has been observing the mobile commerce space quite intently, as it has seen a growing number of people rely on their smartphones and tablets to do their shopping and research products. The company has released an analysis of data concerning the growth of the mobile commerce market, finding that many consumers are beginning to favor shopping with their mobile devices rather than with their desktops or visiting physical stores.
Mobile spending expected to hit $600 billion by 2018
According to the analysis from Coupofy, between 2013 and 2016, mobile shopping increased by more than 42%. By comparison, conventional e-commerce grew by 13% over the same period. As 2016 is not yet hear, the growth in both mobile shopping and e-commerce is expected to increase. By 2018, it is estimated that consumers will spend some $600 billion in mobile purchases. This represents 300% growth over the mobile spending that was reported in 2014.
Emerging markets are seeing major growth in mobile shopping and spending
Coupofy notes that Norway, Sweden, Denmark, China, and Spain are the fastest growing mobile commerce markets in the world, with China holding the top spot. Emerging markets, such as Taiwan, are also experiencing rapid growth, as more consumers begin to access the Internet with their smartphones and tablets. Both India and Taiwan saw a 60% increase in mobile spending from 2012 to 2014 due to increased smartphone penetration.
Retailers are helping power the growth of mobile commerce
Several retailers are aiding in the growth of mobile commerce. Amazon, which is one of the world’s largest e-commerce retailers, has noted a significant rise in the number of consumers purchasing products through mobile devices. In China, Jingdong Mall has also seen an increase in mobile shoppers, as consumers are beginning to favor their mobile devices to find and purchase products. Mobile shopping is becoming particularly popular among commuters who travel to work and back on a regular basis. Shopping from a mobile devices represents an easier way for these consumers to get their shopping done.
The holidays add more momentum to mobile commerce
Consumers in Europe may be getting a head start on their holiday shopping. Many people have been flooding retail sites on their mobile devices in order to get some of their holiday shopping done early. While retailers have not yet begun to provide the special offers that have become common for the holidays, many of these companies are offering some special discounts to those that participate in mobile commerce. A new report from Adobe predicts that mobile commerce will have a major impact on this year’s holiday season.
Report highlights the growth of mobile sales and online traffic
According to the Adobe Digital Index 2013 Online Shopping Forecast, approximately 12.4% of all online sales in eleven European countries are expected to come from smartphones and tablets. This is a 68% increase over what had been reported in the previous year. Smartphones are expected to be the platform through which the majority of mobile sales are made, with tablets following closely behind. The report suggests that December 9, 2013, will be the highest grossing online shopping day, with the following week being the highest grossing week for retailers in Europe.
Consumers favor convenience of mobile commerce
Mobile commerce is cited as one of the caused behind this growth in online sales and online retail traffic. Consumers have become enthralled with the concept of mobile commerce because of the convenience that it represents. Mobile shopping allows consumers to avoid visiting physical stores, thereby avoiding crowds and expediting the shopping experience. Mobile commerce has proven so convenient that many consumers are opting to get their shopping done before the holidays even begin. These people are willing to forgo the special deals being offered by retailers during the holiday season in order to get their shopping done ahead of time.
Retailers continue to bolster their mobile platforms
Mobile commerce is expected to have a prominent impact on the retail industries in Austria, France, Germany, Denmark, and the United Kingdom, as well as other countries. The 2012 holiday season showcased the power that mobile commerce has over consumers, and retailers have spent much of 2013 preparing their mobile platforms in order to take advantage of the continued growth of mobile commerce among consumers.
