Tag: new commerce

Mobile commerce shows impressive growth in Australia

ACMA report highlights the growing activity in the mobile field

Mobile commerce has experienced strong growth throughout Australia since 2010, according to the Australian Communications and Media Authority (ACMA). Consumers are becoming mobile-centric and more inclined to shop for and purchase products from their mobile devices. Australian businesses have taken note of this and are beginning to focus more aggressively on connecting with mobile consumers. The ACMA has released a report concerning the growth of mobile commerce in the country, highlighting the trends that are contributing to this growth.

Mobile payments grow by 448% since December 2010

According to the ACMA mobile commerce in Australia has grown by 448% since December 2010. As of December 2013, more than 3.4 million people throughout the country are making use of mobile payment platforms. People are beginning to use their mobile devices to manage their funds more easily, according to the ACMA report. The report notes that money transfers are the most widely used mobile service among consumers in Australia.

Smartphone adoption is powering mobile commerce activity

Australia Mobile Commerce GrowthThe report found that mobile commerce is most common among those between the ages of 25 and 34. This demographic tends to be more reliant on their mobile devices and more comfortable with mobile technology in general. The growing adoption of smartphones and tablets has also played a role in increasing mobile commerce activity.

Consumers remain more confident in conventional e-commerce than mobile shopping, but that may change in the future

While mobile payments are becoming more common throughout Australia, conventional e-commerce is still performing better than the mobile sector. The ACMA notes that e-commerce sales coming from PCs, in particular, are growing at a rapid pace. Currently, traditional e-commerce sales are 27% higher than sales being recorded from mobile devices. Shopping online from a PC is also more popular among a more diverse group of consumers. Many people have become very comfortable with e-commerce, having extensive experience with PCs and laptops. Mobile commerce may eventually outpace conventional e-commerce activity, but it could take years for consumers to become comfortable with the idea of purchasing products exclusively from a mobile device.

Mobile payments in the US set to hit $190 billion in 2018

Consumers and merchants are beginning to embrace mobile commerce more willingly

Mobile payments in the U.S. are expected to reach new heights in the near future, according to BI Intelligence. Consumers throughout the country have become heavily reliant on their smartphones and tablets and are using these devices to shop online more frequently. As physical stores become more accommodating of mobile consumers, these people are also beginning to use their devices to pay for products from these stores, rather than use traditional forms of currency.

Mobile transaction volume to grow by a CAGR of 153% from 2013 to 2018

BI Intelligence estimates that mobile payment volume will grow at a compound annual growth rate of a staggering 153% from 2013 to 2018. By the end of 2018, total mobile sales are expected to reach $190 billion. The majority of this growth is not expected to be seen until 2016, however, when a favorable balance between consumer acceptance and merchant adoption is expected to be established. Currently, consumers are willing to spend money from their mobile devices, but few merchants have yet to embrace the concept of mobile commerce.

Consumers show favor for the convenience of mobile commerce

mobile payments to grow in USMobile commerce has been gaining popularity among consumers for some time now. The concept is quite attractive because of its convenient nature, providing consumers a way to shop for and purchase products that they are interested in from a mobile device, no matter where they are in the world. Consumers can often choose where they would like to have the products they have purchase online delivered, or they can opt to pick up these products at a physical store.

Merchants may begin to find significant success in mobile commerce beginning in 2016

As consumers become more accepting of mobile commerce, so too are merchants. While many merchants have found it difficult to engage mobile consumers in an effective manner, those highlighting the convenience of mobile payments often find support among particular demographics. Merchants are expected to find more success in their mobile commerce endeavors beginning in 2016, when they begin embracing new, mobile-centric network technologies.