Mobile Commerce To Reach $11.6 Billion By End Of 2012 [STUDY]
Although, the market is flooded with mobile phones but only a small percentage of total e-commerce industry is being contributed by the mobile commerce. However, the rapid growth of smartphone sheers the upward trajectory of M-commerce. It’s been estimated that the U.S. mobile commerce sales would be reaching $6.7 billion this year, increased by 91.4% from 3.5 billion in 2010 and expected to grow by 73.15% to reach $11.6 billion next year, according to eMarketers.
E-Marketer principal analyst—Jeffrey Grau—stated, “Mobile commerce is growing at a fast clip—and it’s acting as an engine of overall e-commerce growth by converting potential bricks-and-mortar sales to digital sales as consumers use their smartphone while shopping in-store.”
M-commerce sales include expenditures on tangible products like travels, booking of tickets through the mobile but it doesn’t mean the digital downloading or others. Also, E-Marketer has anticipated that approx. 37.5 million U.S. consumers would be 14yr or above age and they would purchase at least a product through their mobile phones in the next year.
Grau also said, “For years, the trend has been for consumers to research products online, and then go buy in-store. But as the industry improves its slate of mobile offerings, consumers are increasingly visiting stores to research products, and then go buy something else on their mobile devices.”
Recently, IBM reported that the company observed 500 retailers’ traffics and found that 10.8% of traffic of the sites came from the mobile devices, which is 3.9% greater than the previous year. The company also reported that the mobile sales nurtured spectacularly and reached to 6.6% of total e-commerce from 2.3% in 2010.
The EBay’s payment company PayPal and GSI commerce – EBay’s e-commerce and m-commerce technology company—had investigated the mobile volume payment of Cyber Monday of previous and current year. The investigation revealed that the global mobile payment volume has increased by 552%.
After comparing the black Friday and cyber Monday of last year and this year, M-commerce technology provider—Digby—has noticed that M-commerce industry has grown up tremendously. Digby also reports that retailer mobile sales has grown by 204%, similarly, store locator visits have increased outstandingly by 1,506%, and volume of unique visitors has jumped by 147% as compare to the last year.
Customer experience management firm—Tealeaf—and social media monitoring company—Crimson Hexagon—has demonstrated the consumers interest in the mobile in-store shopping via mobile devices. In this year, the U.S. marketers are expected to spend $2.74 billion on the social marketing ads which will might increase next year.
It’s pretty clear that in coming months the mobile commerce is going to become a huge market for the business owners. Invasion of smartphone and its constant increasing demands day-by-day made the market more vulnerable. The marketers are investing huge in promoting the M-commerce through the mobile devices.