Tag: forrester research

Next year will be huge for mobile commerce sales, says Forrester

A new report from the research firm has shown that by the close of 2016, sales will break the $142 billion mark.

Forrester Research has now released a new report that it has entitled its “U.S. Mobile Phone and Tablet Commerce Forecast, 2015 to 2020” and within it, it has shown that the close of this year will break $115 billion in transactions and they will only head upward from there.

The report also goes on to say that by the end of next year, m-commerce sales will explode past $142 billion.

Principal analyst at Forrester Research, Sucharita Mulpuru, who is also the firm’s vice president, explained that “We project that mobile phones will generate 15 percent of eCommerce sales by 2020, and tablets will generate 33 percent of eCommerce sales in the same time frame.” She also explained that as smartphones are rapidly becoming a main computing device for many consumers, it is surprising that those mobile commerce figures aren’t even higher than they already are.

The report from Forrester has placed the spotlight on many of the challenges creating a barrier to mobile commerce.

Mobile Commerce - Mobile ShoppingAlthough merchants have said that about a third of its current online traffic comes from mobile devices, the number of actual sales that are occurring over smartphones and tablets is only 11 percent. This shows that while people are visiting sites to check out brands, products, and stores, they aren’t actually using those same gadgets to make their purchases. When they do buy, it’s more likely to be in person or over a laptop.

Mulpuru stated that “Shoppers experience slow download speeds on smartphones in particular, and few retailers have managed to increase their mobile conversion rates over the years.” Most of the sales that are occurring over m-commerce are happening within three primary categories, which means that the majority of sectors remain underpenetrated and still have a great deal of unused potential. Those categories will need to go a long way before they will be able to experience success over that channel.

At the same time, there are also retailers who have been successful by way of mobile commerce innovations. In Forrester’s report, the firm explained that eBay and Amazon, combined, take in about one third of all shopping that is completed over smartphones and tablets in the United States.

Apple’s mobile payments service to launch in UK next month

Apple Pay will be launching in the United Kingdom next month

Apple plans to launch its mobile payments service in the United Kingdom next month and will be linking with the loyalty cards provided by some retailers. The company has established a strong position in the mobile payments space in a relatively short amount of time. Apple Pay launched in the U.S. in October of last year, with the service being supported by a strong partnership with several prominent retailers. The company has been looking to expand its service into new markets, but this process has been relatively slow.

Companies are showing strong support for the mobile payments service

Pinterest and Discover Card will be working with Apple for the launch of Apple Pay in the UK. Apple will also be adding store debit cards to its  mobile payments system, which will allow Apple Pay to be accepted at more than 1 million locations worldwide next month. In the UK, Apple Pay is expected to be accepted at more than 250,000 locations, and will also be used to pay for public transportation services.

UK is becoming a dynamic market for mobile payments

Apple Mobile Payments - UKThe UK has become a very attractive mobile payments market. Many consumers have become enthralled with the concept of mobile transactions, as it is more convenient for them than conventional forms of commerce. Being able to shop online from a mobile device allows people to purchase products wherever they are and at any time, as online stores do not close. This is a trend that is being seen throughout the world. According to a recent study from Forrester Research, global mobile sales are expected to reach $142 billion by 2019.

Apple to compete with other companies operating in the mobile space

Apple will be competing with several other companies that have already managed to establish a foothold in the United Kingdom. Apple Pay has already generated significant hype, with many consumers being excited for the service’s eventual launch in the UK. Merchants have also shown great interest in mobile payments and may see great benefit in supporting the new service from Apple.