Tag: mobile spending

Mobile shopping has been growing quickly in China over the past year

Mobile shopping in China saw tremendous growth in 2014, according to a study from iResearch. The firm’s study highlights the growth of mobile commerce throughout the country, noting that many consumers have begun to shop online and in physical stores with their mobile devices. This trend is not unique to China, of course, as mobile commerce has been seeing healthy growth throughout Asia. The region is considered one of the fastest growing mobile commerce markets in the world.

Mobile spending triples in China throughout 2014, reaching new heights and encouraging retailers

According to the study from iResearch, mobile spending tripled in 2014 over what it had been in 2013. More people opted to shop with their mobile devices and they were more likely to spend larger sums of money while doing so. Mobile commerce saw 239% growth over the past year, while conventional e-commerce experienced on 49% growth. Mobile commerce accounted for 33% of all online sales made in China in 2014, a significant increase from the 14% that was recorded in 2013.

Demand for mobile commerce services is on the rise among interested consumers

China’s mobile commerce scene is dominated by a few large companies, such as Alibaba, but there are many services that are available to mobile consumers. These services make it possible to shop for and purchase products in physical stores with a mobile device. Smartphone penetration is on the rise throughout the country, which is leading to a greater demand for mobile payment services. This demand is expected to continue growing as more consumers become comfortable with mobile commerce.

Expansion of mobile commerce will continue, powered by retailer adoption and the demands coming from consumers

Mobile commerce is likely to continue expanding throughout China, powered by the initiatives that many retailers and Chinese banks are taking to engage mobile consumers. Conventional e-commerce still dominates the retail space, but mobile is beginning to play a more important role therein. Retailers are beginning to understand that if they do not engage mobile consumers, they may be missing out on promising opportunities.

People are hooked on smartphones and a new report has shown that those monthly bills are adding up.

A recent report issued by Boston Consulting Group has shown that consumers love their mobile technology and those from developed countries (the United States, Germany, and South Korea) are currently paying an average of about $6,000 per year on them.

This represents the equivalent to 12 percent of the average annual income and includes devices and services.

The sales and use of mobile technology, specifically cell phones and smartphones, generated almost $3.3 trillion in global revenues, last year, said a Qualcomm commission report entitled “The Mobile Revolution: How Mobile Technologies Drive a Trillion-Dollar Impact” report. It also stated that the aggregate annual consumer surplus – that is, the benefit above and beyond what is paid directly for mobile services – is considerably higher, at a total of about $6.4 trillion.

Most of the people who were surveyed said they would rather give up dining out for a year than their mobile technology.

They also said that they would give up going on vacation for a year in order to be able to hang on to their mobile devices. The research included the participation of 7,500 consumers in the United States, Germany, Brazil, India, China, and South Korea.

In Korea and China, the majority of smartphone users said that they would prefer to give up their home broadband internet connection than go without their devices.

According to senior partner at The Boston Consulting Group, David Michael, who was also the report’s lead author, “The typical U.S. consumer reports that their mobile phone connection creates more than $5,800 in value for them per year, over and above what they pay. That surprised us.”

Michael also pointed out that it was interesting to observe the value that consumers applied to mobile services within emerging markets. Among Indian and Chinese consumers, over 60 percent claimed that their mobile device services gave them access to new opportunities in generating income.

The report indicated that from 2009 through 2013, the mobile technologies industry made capital expenditures and research and development investments of $18 trillion.