Tag: mobile commerce study

This would bring sales through the channel up to $31 billion within a 4 year period.

Forrester Research has released its latest mobile commerce data, which has shown that mobile commerce currently represents a small fraction of total sales for retail companies and for the next few years, it is likely that it will grow, but still remain a small percentage of the whole.

The sale of physical goods and services over smartphones was small but notable last year.

In the United States, these mobile commerce purchases were worth $8 billion and made up 3 percent of total online sales and under 1 percent of the overall retail sales total. Forrester estimates that this numbers were driven higher by some of the top performers in this channel, such as eBay and Amazon, which have experienced billions of dollars in sales from wireless devices.

For the majority of American retailers, mobile commerce sales represent a lower portion of the whole.

Over the next four years, the total mobile commerce sales are expected to increase by 33 percent per year – said the Forrester Research data – until they reach $31 billion. This means that by 2017, they will make up 9 percent of online sales.

According to that same research company, at the time of their study, there were 132 million people in the United States that had a smartphone with an internet connection. However, only one in every four actually made a mobile commerce purchase. They speculated that the reason that this rate has remained as low as it has is because of the retailers themselves.

Forrester has identified retailers as the cause of their own mobile commerce struggle, saying that it can be too challenging for consumers to check out and pay for items on their smartphones to make it feel worth their while. They also pointed out that some retailers are too wrapped up in apps of which consumers are completely unaware.

Aside from Forrester’s own speculations, it has also been suggested that the design of the smartphones, themselves, may be partly to blame. Although some screens have wonderful image zooming capabilities, it can still be quite challenging for device users to be able to closely examine products, especially within the apparel sector.

More consumers becoming interested in mobile commerce

The retail industry has been eager to appeal to mobile consumers, but many companies seem to have been approaching the issue with a certain degree of caution. Slow implementation of mobile-centric services, such as mobile commerce, coming from retailers has not gone unnoticed by consumers. A new study from Moosylvania, an advertising agency, shows that a large number of consumers want to see more mobile information and mobile commerce services in the stores they favor.

Study shows majority of consumers want more mobile-centric services

According to the study, which surveyed 1,874 smart phones owners, 80% of consumers want to see more product information made available on their smart phones. The study notes that consumers want to see this information in a way that is optimized to be viewed on their mobile device. This demand is becoming more apparent as the number of consumers who rely on their smart phones while shopping increases. Consumers are becoming more likely to use their smart phones and other mobile devices while shopping in order to take advantage of special offers made by retailers online, as well as take advantage of the convenience offered through mobile commerce services.

Mobile research is high among smart phone owners

The study shows that 30% of smart phone owners typical research products through their devices while away from home. Approximately 73% of consumers compare prices on certain products offered by several retailers. The study also shows that these consumers are more likely to spend large amounts of money through mobile commerce. Approximately 50% claim they have made a purchase of $100-$999 using their mobile device. Only 12% of consumers claim to have never used their smart phone to make a purchase.

Consumers show more enthusiasm for mobile commerce

The study also shows that mobile consumers are eagerly anticipating the arrival of comprehensive tools that will make mobile commerce easier for them. Some 44% of consumers say they would like to see advanced mobile wallet platforms for their mobile devices. These platforms are developed to help consumers participate in mobile commerce more easily by providing them with a way to efficiently and securely store their financial information.