There are many drivers that are sending this channel right to the brink of its fastest increase yet.
The mcommerce world is sitting right at the very edge of the fastest growth that it has ever experienced, and there are a number of reasons that this already rapid increase is about to take off like never before.
A recent report has identified some of the drivers that are sending the mobile figures skywards.
One of the most common leisure time activities among today’s consumer is to watch television while holding a smartphone or tablet device. This second screen makes it possible to investigate all manner of topics, ideas, and products that appear on the television before the consumer. The mcommerce industry is not oblivious to this trend and is working very hard to create smartphone and tablet friendly sites and apps that will relate to what is being seen on the televisions so that it becomes possible to capitalize on this activity.
This mcommerce trend is known as the “second screen”, where two devices are used for watching television.
This occurs when the viewer is watching television but uses the smaller device in order to provide support information. A new BI Intelligence report is now showing that second screen, as well as a number of other drivers, are sending mcommerce rapidly skyward at what will soon be an explosive rate. Among the other drivers that were named include smartphone optimized websites and social networks.
Companies are beginning to use their carefully devised tools to help to monitor how second screen audiences are using their smartphones and tablets in order to enhance their television watching experience. The goal is to use this opportunity to improve the mcommerce offerings in a way that they will be seen as more useful and that they will help to encourage greater conversion rates and sales.
The report also named additional reasons that illustrate why second screen based mcommerce will certainly succeed. These include: rapid usage growth, widespread acceptance and adoption, well established activity, and the ease of creating bridges through sites and apps designed specifically for this experience.
Forrester Research predicts healthy growth for US mobile commerce
Forrester Research, a leading market research firm, has released a new report concerning U.S. mobile payments and the growth the sector is expecting to see in the coming years. Mobile commerce has begun to gain momentum throughout the U.S., largely due to the increasing number of NFC-enabled mobile devices and the rapid adoption of mobile commerce being seen among retailers. Consumers have expressed their interest and willingness to participate in mobile commerce, pushing mobile payments to reach new heights.
Report forecasts mobile payments to reach $90 billion in 2017
According to Forrester Research, mobile payments in the U.S. will reach $90 billion by 2017. The firm predicts a 48% compound annual growth rate over the next two years. The firm expects in-store mobile payments, general mobile commerce, and peer-to-peer transactions to be the driving factors behind this healthy growth. The report notes that a strong focus on mobile commerce coming from numerous companies spread across equally numerous industries is raising awareness of mobile payments among consumers. These consumers, in turn, are discovering mobile commerce services that fit their needs and make use of these services extensively.
Retail industry to play major role in growth of mobile commerce
Forrester Research expects to see significant progress made in mobile commerce come from the retail industry. Over the next five year, the firm forecasts that retailers will put more focus on mobile commerce, potentially seeing major benefits from doing so. During the 2012 holiday season, retailers saw major gains from their focus on mobile commerce, with Black Friday and Cyber Monday producing a great deal of profit for many of the country’s large retailers.
Holiday season places momentum behind mobile commerce
The success of mobile commerce during the 2012 holidays generated a great deal of momentum, encouraging retailers to continue or increase their focus on mobile consumers. While retailers are expected to face significant challenges in the years ahead, most of which will come in the form of competition with other retailers, Forrester Research expects that the industry will continue seeing positive results in regards to mobile commerce.
