Tag: north america

Millenials are leading the growth of mobile commerce

Report shows that younger consumers are influencing the mobile commerce space

A new report from Global Web Index shows that young consumers are powering the growth of mobile commerce. Younger demographics are more likely to participate in mobile shopping because they are more comfortable with smartphones, tablets, and other devices. They appear to be less concerned with security issues because they are more acclimated to the risks that exist in the digital world. These consumers are leading the way when it comes to shopping online from a mobile device.

More people are opting to shop with their mobile devices than ever before

According to the report from Global Web Index, 40% of consumers between the ages of 16 and 24 are using their mobile devices to shop online every month. By comparison, 36% of all adults worldwide are doing the same. Approximately 26% of all Internet users are using mobile shopping applications to shop online, with 70% of these consumers successfully making a purchase using such apps. The most influencial demographic in the mobile commerce space is currently Millenials, who have taken a strong interest in mobile technology in general.

Asia Pacific region is the world’s fastest growing mobile commerce market

Teens - Mobile Commerce In North America, 20% of Millenials made a mobile commerce purchase in the past month, with 21% of this demographic doing so in Europe. The Asia Pacific region is home to the largest mobile commerce market where Millenials are active. The report shows that 46% of Millenials in this region have made a mobile commerce purchase in the past month. The report notes that nearly half of China’s Internet users shop online using a mobile device of some kind every month, though India is seeing the greatest rise in mobile shoppers.

Social media continues to have an impact on the mobile shopping space

Social media is playing a major role in the rise of mobile commerce throughout the world. More social media companies are taking steps to embrace mobile payments, introducing new features that allow consumers to make purchases from their platforms. These companies are partnering with online merchants in order to effectively engage mobile consumers that have become enthralled with the notion of mobile shopping.

North American consumers are embracing mobile payments and digital currencies

Accenture survey highlights the growing prominence of mobile commerce

Accenture has released the results of a new survey comprised of data collected by 4,000 consumers in the United States and Canada. The survey highlights the growing interest people have in mobile payments and digital currencies. More people are beginning to base their lives on mobile technology, and the demand for mobile-centric services has been growing rapidly as a result. Several businesses are moving to become more mobile friendly, favoring strategies that engage mobile consumers more effectively.

40% of North American consumers are using their mobile devices to make payments at merchant locations

According to the survey, 40% of consumers in North America have used their mobile device to make a payment at a merchant location. This is a 16% increase over the number of people making mobile payments two years ago. The survey shows that millennials and high-income consumers are avid supporters of mobile commerce and digital currencies. High-income consumers, those with an average household income of $150,000, are the most aggressive adopters of digital payments, with 55% of these consumers using their mobile devices to make a purchase.

Growing number of consumers are showing favor for digital forms of currency

Mobile Payments - North AmericaThe survey also found that digital currencies are beginning to gain traction among consumers. Approximately 18% of those surveyed expect to be using some form of digital currency on a weekly basis by 2020. Many have shown favor for Bitcoin, as it is one of the most popular digital currencies currently available. High-income consumers are those most likely to use digital currencies in the coming years, with millennials accounting for the minority.

Mobile commerce has yet to become mainstream, traditional payments may continue to be the norm for some time

The survey predicts that traditional forms of payment will become less popular in the coming years. Respondents noted that they expect to reduce their use of cash from now to 2020, favoring mobile-centric forms of payment. Traditional payments may still be the norm for most consumers in North America, as it could takes years for mobile commerce to enter into the mainstream.