US mobile commerce set for strong growth
Internet Retailer, a market research and strategic analysis firm, has released data that suggests mobile commerce in the U.S. will see strong growth by the end of 2013. The data shows that 500 of the largest mobile commerce businesses in the country have been reporting strong results over the past several quarters. More consumers are showing interest in mobile payments as the services available to them find alternatives to NFC technology and become more secure.
Data estimates 71% growth in mobile sales
According to the data from Internet Retailer, mobile commerce in the U.S. could grow by 63% by the end of the year. Mobile sales processed by the country’s top mobile commerce companies are expected to jump 71% by the end of 2013, surpassing $30 billion. E-commerce giant eBay is expected to see mobile sales rise above $8.8 billion as more consumers opt to shop from their mobile devices than on PCs or in physical stores.
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Retailers begin taking mobile commerce more seriously
Retailers around the world are beginning to understand that the mobile space is not something to be ignored. Mobile commerce is not simply a passing trend and consumers are not likely to give up shopping on their smartphones and tablets any time soon. Retailers that are slow to embrace mobile commerce could be missing out on a significant opportunity and run the risk of being left behind by consumers that are demanding better mobile services. Companies like eBay and Amazon have shown just how beneficial a focus on the mobile sector can be.
Security remains a top concern for many consumers
Mobile commerce has grown significantly in a few short years, but the sector is still in a state of infancy. While many consumers have shown interest in mobile payments, many more have expressed concern regarding the security of their financial information. Security concerns have been enough to keep people away from mobile commerce platforms regardless of the security features that these platforms boast of.