Tag: mobile commerce growth

Mobile commerce growth rate hit 40 percent in 2016

An Astound Commerce survey showed that people are shopping on smartphones more than ever.

The results of a new mobile commerce growth rate study have been released by Astound Commerce. The study was based around a survey titled “Mobile Accelerates to the Express Lane.”

The report illustrated the m-commerce sales trend in the United States and where they will reach this year.

The study results indicated that the American Mobile commerce growth rate would bring sales to $130.92 billion by the close of the year. This means that it will make up 33 percent of the overall e-commerce sales completed this year. Moreover, in the prior 12 months, there was a 40 percent year over year increase in discretionary spending in mobile commerce. In e-commerce, that figure was markedly lower, at 11 percent.

The mobile commerce growth rate also impacted other parts of the shopping process aside from purchases.

Mobile Commerce Growth RateThe Astound Commerce report indicated that buying was only one component of the mobile commerce journey. People are also using their smartphones to research products. Among the survey respondents, 40 percent said they read their emails and would frequently visit retailer sites at the same time. Moreover, another 40 percent said smarphones make the shopping transaction process faster.

Consumers have developed a heavy reliance on their mobile devices. They will frequently consult their small screen gadgets before other channels. This includes both shopping in-person at brick and mortar stores and visiting e-commerce sites. Fifty five percent of device users will research products on their smartphones ahead of going to a store in-person. Moreover, 42 percent said they look into products on their smartphones and tablets while in-store.

The mobile commerce growth rate was greatly influenced by certain specific factors. For instance, 68 percent of shoppers feel relevant product search results are important. Fifty nine percent value seeing high-quality product images. Another 49 percent said they appreciate it when detailed product reviews are made available for them to read before purchase. A whopping 98 percent felt it was important for consistency to exist throughout all channels. A product’s price should be the same from a given merchant regardless of whether the purchase is made over m-commerce, e-commerce or in person.

Growth of mobile commerce creates greater demand for business apps

Business apps are becoming more important for companies that want to engage mobile consumers

The growth of mobile commerce has created a greater need for business applications. These apps could help companies better engage with mobile consumers, many of whom are beginning to favor shopping online with their smartphones and tablets instead of using their desktop computers. According to information from Internet Retailers, sales being made through smartphones and other mobile devices grew by 38.7% last year. As consumers become more interested in mobile shopping, the demand for business apps that can accommodate consumer needs is growing.

Mobile spending continues to grow throughout the world

In 2014, mobile spending reached $75 billion, highlighting the growing interest that consumers have in mobile shopping. This growing interest in mobile commerce is coupled with greater consumption of digital media. According to a report from Comscore, approximately 60% of digital media users spend more time on their mobile devices than on traditional computers. As such, they are more exposed to the concept of mobile commerce and are more likely to make purchases with their smartphones or tablets.

Many consumers are beginning to prefer shopping with apps online

Business apps

Business apps cover a wide range of services, from companies offering to sell products to those providing consumers with news updates. These apps have become an important part of many people’s lives. Indeed, without such applications, the mobile space would not be as large as it is today. The advent of mobile commerce has created a greater need for companies to invest in the mobile space, developing and providing new apps that can provide consumers an enjoyable and convenient mobile shopping experience.

Mobile shopping is finding strong support among millennials

Mobile shopping is expected to continue growing in popularity, especially as more consumers begin to become comfortable with the notion of shopping online with their smartphones and other devices. Millennials are likely to become the primary demographic for the mobile space, as these consumers already have a strong history with mobile technology and using devices for various purposes.