MEF releases results of annual mobile commerce survey
The Mobile Entertainment Forum (MEF), a global trade association focused on the mobile media industry, has seen a marked rise in the realm of mobile commerce over the last few years. The trade group has released the results of a new survey that documents this growth and how consumers seem to be responding to the advent of mobile commerce services. The survey was conducted with the aid of On Device Research and spans 10 different countries, all of which boast of promising mobile markets.
Survey shows most mobile consumers engaged in some form of mobile commerce
According to the survey, nearly 88% of the world’s mobile media users are engaged in mobile commerce. The survey defines mobile commerce as “anyone using a mobile phone for research, purchase, or banking.” This definition is widely held as the standard in terms of mobile commerce, as this concept rarely refers to only mobile payments. The survey shows that research is the most popular form of mobile commerce, with 80% of all consumers using their mobile devices to find out more information on products and services.
Mobile commerce sees most growth in emerging markets
The survey shows that 55% of consumers around the world have made purchases using their mobile devices. The most growth in this facet of mobile commerce comes from emerging markets, such as Qatar, India, and South Africa. Mature markets, such as the United Kingdom and the U.S. remain somewhat static in terms of mobile purchases from consumers. The majority of mobile commerce is still reserved to the digital realm through e-commerce sites and online retailers, rather than physical purchases in stores.
Entertainment and convenience major reasons for mobile commerce engagement
According to MEF, entrainment and convenience are the primary reasons consumers around the world are interested in mobile commerce. Trust is also a significant factor, but many consumers continue to express concerns regarding the security of mobile payments. The companies involved in mobile commerce have been working to address these concerns, but consumers largely remain leery of having their financial information put at risk.