Tag: united states

Mobile commerce is picking up steam in the US

| July 23, 2015

Survey shows that more people are using their mobile devices when shopping

Retailers may need to become more mobile-centric, as consumers begin relying more heavily on their smartphones when they shop. SessionM, a mobile loyalty company, recently released the results of a survey of 12,000 randomly selected smartphone users in the United States, questioning them about their mobile shopping behavior. According to the survey, 85% of respondents said that they were quite involved in mobile commerce, with many suggesting that their mobile commerce activity increased over what it had been over a year ago.

Mobile shopping activity is on the rise among smartphone users

The survey shows that approximately 15% of respondents said that their mobile shopping had increased significantly. Of those interested in mobile commerce, security and poor user experiences were cited as major barriers that are prohibiting the further growth of e-commerce and mobile shopping. Notably, more than 90% of consumers noted that they made a purchase with their mobile device in the past 90 days. The vast majority of these consumers, approximately 73%, said that they made a mobile purchase in a physical store.

Many consumers use their devices to compare prices and research products they are interested in

Mobile Commerce in the USAWhen it comes to using a smartphone in a physical store, 54% of consumers used their devices to compare prices on products that they were interested in. Another 48% used their smartphones to look up product information, with 42% using their devices to check product reviews online. Notably, many people used their smartphones to look for special deals, such as coupons, and any loyalty programs that they could take advantage of.

Retailers have new opportunities to engage mobile consumers

Because of the large number of consumers that have begun to rely on their smartphones to shop, retailers have new opportunities waiting for them in terms of marketing. Loyalty programs are, perhaps, the most promising opportunities facing retailers. These programs provide consumers with rewards for their loyalty, and shoppers have shown particular interest in these programs as they can lead to money saving opportunities and access to special deals.

US mobile commerce market to see strong growth in coming years

| July 7, 2015

Report highlights the ascent of the online payment services industry

The U.S. online payment services industry is expected to see sustainable and aggressive growth over the coming years, according to a new report from BMO Capital Markets. Mobile commerce, in particular, is expected to see a significant increase throughout the country through 2018. More consumers are showing interest in shopping and paying for products with their smartphones and tablets. Most of these transactions are being done online, more consumers are wanting to use their devices to make purchases in physical stores.

Mobile commerce expected to see CAGR of 40% through 2018

The report predicts that online payments will reach $2.4 billion by 2018, growing from the $1.7 billion it is expected to reach this year. The report notes that mobile commerce represents 25% of all online transactions made in the United States. The mobile commerce space will experience a compound annual growth rate as high as 40% through 2018. The report suggests that the mobile space represents a much stronger growth opportunity than conventional commerce initiatives.

PayPal could benefit from the aggressive growth of mobile commerce

U.S. Mobile Commerce Future GrowthOne of the most influential platforms that is expected to expose consumers to mobile commerce is PayPal. The vast majority of PayPal’s business is online, with 165 million active users making payments of some kind through the platform. PayPal currently has the highest exposure among consumers that are interested in mobile payments when compared with other services, placing it in an ideal position to benefit from the continued growth of the mobile commerce space.

Retailers need to become mobile-centric in order to compete

As more consumers become interested in mobile commerce, they are becoming more likely to use services like PayPal on their smartphones and tablets. This is opening up new opportunities for retailers, especially those that intend to sell products in the mobile space. Retailers that do not become more mobile-centric are expected to lose out on new opportunities, which may harm their ability to compete with companies that have already established a significant presence in the mobile world.