As smart phones and tablets continue to penetrate the retail market the global share of transactions completed on mobile devices is expected to increase rapidly over the next few years.
Market trends have experts optimistic because of the increasing number of mobile devices used worldwide, and m-commerce penetration into emerging markets, according to M Commerce Market by Transactions, Payment Modes & Users – Worldwide Forecasts & Analysis (2014 – 2019). The expansion of mobile transactions has connected consumers and businesses worldwide, increasing the potential for the m-commerce retail market.
The MarketLive Performance Index for Q2 of 2014 found that smart phone and tablet transactions accounted for almost 20 percent of e-commerce sales in the second quarter of 2014. And even more consumers are using their phones to browse – 39 percent of e-commerce traffic originates from mobile devices.
“Our latest Performance Index results illustrate how agile and tech-savvy our merchant customers really are at innovating their e-commerce strategies, and how willing consumers are to adopt new paths to purchase from their mobile devices,” said Ken Burke, founder and CEO of MarketLive.
Right now smart phones have a higher usage rate than that of tablets, but global penetration is increasing more quickly for tablets, according to research from yStats.com. The two devices are used differently for shopping as well. More often than not, consumers use apps while shopping on their smart phones. However, when a tablet is used to purchase something, it is often done through mobile browsing.
Year-over-year, the m-commerce expansion numbers show rapid growth, reported mobile commerce platform Branding Brand. For the 26 clients that Branding Brand tracked in it research, the company found that smart phone visits increased by over 4 million year-over-year in July 2014, with over 86,000 more purchases.
“Our real time data shows decisively that smartphone activity in retail is surging, with the highest percentage of growth consistently in revenue,” said Chris Mason, Branding Brand co-founder and CEO. “We expect to see the maximum impact of this record-breaking, year-over-year trend hit during the 2014 holiday season as consumers flock to fully-optimized mobile websites offering exclusive seasonal sales, customized vibrant imagery, and a no-stress shopping experience.”Back To Blog