Online payments to reach $70 billion during the 2015 holiday season
Consumers in the United States are expected to spend a combined $70 billion during the holiday season this year, according to a new report from comScore. This money is expected to be spent at stores like Amazon, eBay, and Walmart, with many shoppers opting to make their purchases online, either from their mobile devices or from their traditional computers. The report from comScore suggests that mobile commerce will have a major role to play this year.
Mobile commerce is growing quickly as consumers become more involved in shopping online
The report shows that online spending will increase by 14% this year over what it was in 2014. While comScore suggests that this is a “marginal” slowdown, it does note that many consumers are beginning to focus on mobile commerce. These consumers are using their smartphones and tablets to make purchases online, which they see as convenient, especially during the holiday season. Retailers have also become more involved in mobile commerce, hoping to engage a new generation of consumers that have become heavily mobile-centric.
Amazon to lead the way in the growth of e-commerce
Amazon is expected to lead the way in online purchases, accounting for some 20% of all e-commerce sales this year, according to the report. Walmart and eBay will follow behind, with smaller retailers finding some success by engaging mobile consumers. E-commerce, as a whole, will account for approximately 15% of all discretionary spending during the holiday season. The report from comScore suggests that the e-commerce sector will continue to prove to be more dynamic than the physical space.
Retailers are beginning to prioritize mobile commerce
Mobile commerce is becoming a powerful force in the retail space, driven by the growing number of options that consumers have available to them and the interest that they have in shopping online with their mobile devices. In the coming year, retailers are expected to become more involved in the mobile commerce space, leveraging the power of mobile devices to engage mobile consumers.
Retailers expecting to see good results during the holiday season may have to ensure that they are prepared to serve mobile consumers. These consumers will be using a range of solutions when participating in mobile commerce, such as new payment and shopping applications. Retailers will also have to ensure that their websites are able to handle a higher degree of mobile traffic. In the past, many consumers have reported problems with completing their purchases using a mobile device. This has lead to these purchases being abandoned and retailers being criticized for their relatively ineffective commerce systems.