Tag: global mobile commerce

Mobile commerce is picking up momentum

Mobile commerce is growing rapidly and that growth does not appear to be slowing down any time soon. The current state of mobile commerce suggests a bright future, largely due to the proliferation of mobile technology and the perceived convenience of mobile payments. Indeed, mobile devices are beginning to become more popular than PCs. According to a study conducted by  the International Telecommunications Union, as of August 2012, more than 7 billion mobile devices were operating all over the world, exceeding the number of active PCs by three times.

Mobile sales to reach new heights in near future

A recent study from Abi Research suggests that mobile commerce will reach $119 billion by 2015. This is roughly 8% of the current e-commerce market. E-commerce is still considered to be a powerful force, especially in the retail industry, but mobile commerce is benefiting from increased exposure and a growing number of retailers interested in engaging mobile consumers in a new form of commerce. Another study by Forrester Research suggests that mobile commerce in the U.S., in particular, will reach $31 billion by 2016.

US mobile commerce experiences aggressive growth

In the U.S., mobile commerce is experiencing a magnanimous rise to fame. More consumers are beginning to become comfortable with the concept of mobile payments, making them more likely to purchase goods and services using their smartphones or tablets. Mobile traffic to websites is on the rise, powered by growing interests in the realm of mobile marketing. Location-based services are also playing a role in encouraging consumers to participate in mobile commerce as they are able to find stores and attractions more easily, especially while traveling.

Security may derail bright future

While the current state of mobile commerce does paint a bright future, the future is, of course, unknowable. There are many challenges that face mobile commerce that could derail the burgeoning industry’s future. The most significant of these challenges, currently, is security. Without adequate security, a consumer’s financial information is at risk of theft and exploitation. The security dangers inherent in mobile commerce have kept many consumers from conducting mobile payments.

Mobile commerce report highlights the growth of mobile commerce and banking

Mobile commerce has reached a proverbial tipping point, according to a new study from TNS Global, a leading market research firm. Over the past few years, mobile commerce has, indeed, become more popular with a wide range of consumers. This is largely due to the massive investments that have been made into the mobile commerce industry from large companies like Google and Visa. Despite some problems concerning security and accessibility, mobile commerce has managed to gain the favor of consumers around the world.

Mobile Life 2012 report shows consumers are highly interested in new forms of commerce

According to the study, which is titled “Mobile Life 2012,” approximately half of all mobile consumers throughout the world are interested in mobile banking services, with another 45% are interested in making mobile payments using their mobile devices. This interest spans throughout the global marketplace, with consumers from Asia, the Americas, Europe, and even Sub-Saharan Africa showing intense enthusiasm for mobile commerce and similar services.

Growing economies mean higher prevalence of mobile technology

In terms of mobile banking, interest largely comes from consumers in China, Sub-Saharan Africa, and developing parts of the Asian market. These markets represent significant expansion in regards to mobile technology. As the economies of the countries within these markets grow more robust, consumers are gaining access to mobile devices, as well as their associated services. The study suggests that growing interest in mobile banking services will lend hype to mobile commerce initiatives.

Consumers still not willing to abandon traditional banking and commerce systems

Mobile commerce and banking are becoming so popular due to t he convenience that is attributed to the two concepts. Having the ability to conduct business using nothing more than a smart phone or tablet is a very attractive prospect for many consumers. The study notes, however, that many of these consumers are not inclined to abandon traditional forms of banking and commerce just because they have access to the mobile variety.