Tag: mobile sales

Report highlights the growth of mobile commerce in the US

Mobile shopping is accelerating at a rapid rate throughout the country

Internet Retailer has released its latest report concerning the mobile commerce space in the United States. More consumers have begun using their mobile devices to purchase products in the retail space, as well as several other sectors. As such, the market has been experiencing healthy growth and more merchants are beginning to focus on the mobile space in order to adequately engage consumers. This growth has shown no signs of slowing down in the foreseeable future.

Mobile commerce sales predicted to reach $104 billion by the end of this year

According to the report from internet Retailer, mobile commerce sales in the U.S. are expected to reach $104 billion this year. This represents a 38.7% increase over the mobile commerce sales that were reported last year. The report estimates that mobile commerce is growing 2.58 times faster than the e-commerce market, which is predicted to grow by 15% this year, reaching $350 billion. While e-commerce still represents a stronger force in the retail sector, mobile is becoming a more important focus for retailers.

US lags behind other countries in terms of mobile spending

U.S. Mobile Commerce Report While mobile commerce is growing quickly in the United States, this growth is lagging significantly behind other markets around the world. The report shows that the mobile commerce market is growing much quicker in Asia, with 14 of the region’s most prominent retailers reporting mobile sales growing by a compound annual growth rate of nearly 250%. In Europe, the mobile commerce market is growing 1.82 times faster than what is being seen in the U.S.

Retailers are becoming mobile-centric

By the end of this year, mobile commerce is expected to account for nearly 30% of all e-commerce sales made in the United States, an increase of 24.6% over what was reported in 2014. Many retailers are beginning to focus their efforts on mobile consumers, offering them new ways to shop for products online and in a convenient fashion. As these services become more available, mobile commerce is expected to continue experiencing healthy growth throughout the country.

Mobile payments in the US set to hit $190 billion in 2018

Consumers and merchants are beginning to embrace mobile commerce more willingly

Mobile payments in the U.S. are expected to reach new heights in the near future, according to BI Intelligence. Consumers throughout the country have become heavily reliant on their smartphones and tablets and are using these devices to shop online more frequently. As physical stores become more accommodating of mobile consumers, these people are also beginning to use their devices to pay for products from these stores, rather than use traditional forms of currency.

Mobile transaction volume to grow by a CAGR of 153% from 2013 to 2018

BI Intelligence estimates that mobile payment volume will grow at a compound annual growth rate of a staggering 153% from 2013 to 2018. By the end of 2018, total mobile sales are expected to reach $190 billion. The majority of this growth is not expected to be seen until 2016, however, when a favorable balance between consumer acceptance and merchant adoption is expected to be established. Currently, consumers are willing to spend money from their mobile devices, but few merchants have yet to embrace the concept of mobile commerce.

Consumers show favor for the convenience of mobile commerce

mobile payments to grow in USMobile commerce has been gaining popularity among consumers for some time now. The concept is quite attractive because of its convenient nature, providing consumers a way to shop for and purchase products that they are interested in from a mobile device, no matter where they are in the world. Consumers can often choose where they would like to have the products they have purchase online delivered, or they can opt to pick up these products at a physical store.

Merchants may begin to find significant success in mobile commerce beginning in 2016

As consumers become more accepting of mobile commerce, so too are merchants. While many merchants have found it difficult to engage mobile consumers in an effective manner, those highlighting the convenience of mobile payments often find support among particular demographics. Merchants are expected to find more success in their mobile commerce endeavors beginning in 2016, when they begin embracing new, mobile-centric network technologies.