Tag: m-commerce

Mobile commerce transactions continue to grow

| July 8, 2015

Consumers prefer to shop from multiple devices

More people are starting to use their mobile devices to make purchases, according to a new report from Criteo. The report draws on analysis of 1.4 billion transactions made in 3,000 online, retail, and travel businesses. Notably, most consumers prefer to use a variety of different devices to do their shopping, but a growing number of people are beginning to use their smartphones to shop online and in physical stores.

Report shows that consumers prefer to shop for products on tablet devices

The report found that cross-device purchasing accounts for 40% of all transactions being made in the retail space. Of those purchasing on multiple platforms, 41% of these purchasing are being done on mobile devices, while 37% of these purchases are being completed with a desktop. Tablets are proving to be more popular than smartphones when it comes to mobile commerce, as the report shows that 43% of purchases are being made on these platforms. Consumers appear to favor tablets because they offer a more enjoyable and convenient shopping experience.

Retailers continue to look for effective ways to engage mobile consumers

Mobile Commerce Transaction GrowthRetailers are finding it difficult to effectively engage mobile consumers. Providing consumers with an enjoyable mobile experience has proven challenging and retailers have yet to find an effective service that can meet their needs. Retailers may have to focus on improving the mobile shopping experience by optimizing their websites to be more mobile friendly. They may also benefit from launching applications that support mobile commerce.

Mobile commerce may eventually become the favored way for people to purchase products that they are interested in

While mobile commerce has begun to grow aggressively, traditional transactions are still significantly higher. Consumers continue to favor using physical currency and payment cards to make their purchases and have expressed some concern over the security of mobile commerce. As mobile payment services become more secure, the behavior of consumers is expected to change, with more people opting to use their mobile devices to shop for and purchase products, both online and off.

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.