Tag: forrester research

Smartphones are leading the way in mobile commerce growth

| January 12, 2016

Study highlights a paradigm shift in the mobile commerce space

A new study from Forrester Research, Shop.org, and Bizrate Insights shows that smartphones are beginning to become powerful mobile commerce tools. The study has found that consumers are beginning to change the way they browse for products online while using their mobile devices. This, alongside a shift in investments coming from technology companies and better optimization strategies from retailers, is beginning to have a major impact on the mobile commerce space as a whole.

Retailers are seeing more activity come from smartphones rather than tablets

The study found that, among retailers, smartphones accounted for approximately 17% of all online sales made in 2015. By comparison, tablets comprised 14% of online sales last year. Sales via smartphones grew by 53% over what they had been in 2014, with sales from tablets seeing a modest 32% growth in 2014. Retailers are beginning to optimize their mobile engagement strategies, which has lead to a higher number of smartphone users to participate in mobile commerce.

Technology companies are beginning to change the way they invest in the mobile sector

Smartphones - Mobile Commerce GrowthThe study also found that there is a shift occurring in the investments that technology companies are making in the mobile space. A growing number of these companies are beginning to focus more heavily on mobile commerce, hoping to take advantage of the rapidly growing market. Companies like Apple and Google are bringing their own mobile payments services to new markets and retailers are beginning to follow suit. Technology companies are seeing major promise in the continued growth of the mobile commerce market are investing to ensure its continued expansion.

Retailers begin to focus more heavily on smartphones

Tablets had been a very popular mobile shopper platform for consumers in the past. These devices feature larger screens, which allowed for a more enjoyable shopping experience. Smartphones are becoming more popular among consumers, however, as these devices tend to be more common and more convenient shopping experience. Organizations involved in the mobile commerce space may soon focus more heavily on smartphones than other mobile devices in order to effectively engage consumers.

Mobile commerce expected to surge in the US

| October 15, 2015

Report predicts significant growth in the US mobile commerce industry

Forrester Research has released a new report concerning the future of the mobile commerce industry in the United States. The report predicts that the sector will experience significant growth, as many consumers are beginning to use their mobile devices to shop online. In the coming years, retailers may find new opportunities to engage mobile consumers and find success, as this demographic is beginning to play a larger and more influential role in the retail industry overall.

More consumers will be shopping with their mobile devices in the coming years

According to the report, mobile commerce transactions are expected to surpass $115 billion this year, surging to $142 billion in 2016. Forrester Research predicts that there mobile devices will generate a 15% increase in e-commerce sales by 2020. Tablets, in particular, will account for 33% of e-commerce sales over the next few years. Consumers have shown that they favor tablet devices while shopping due to their larger screens, which allow for a more convenient shopping experience.

Converting mobile traffic into sales has proven to be difficult

Mobile Commerce ReportThe report shows that nearly one-third of the traffic that merchants are seeing come from mobile devices. The problem, however, is converting this traffic into actual sales. Approximately only 11% of this mobile traffic actually translates into sales. Many retailers have found it challenging to engage mobile consumers effectively. Consumers have reported problems with the mobile shopping experience overall, with slow download speeds and faulty mobile commerce systems being a significant barrier to completing a purchase.

Millennials could be the key to mobile commerce success

The United States has become a very prominent mobile commerce market, but if retailers cannot acclimate to the needs of consumers with smartphones and tablets, they may miss out on promising opportunities. Engaging Millennials may be the key to success, as these consumers have become a powerful force in the mobile commerce industry as a whole. The report from Forrester Research shows that 40% of those between the ages of 16 and 24, throughout the world, are using their mobile devices to shop online every month.