The amount of individuals ordering products using their mobile phones only continues to grow: a recent report from Mobile Commerce Daily, citing figures obtained by MEF, found that 15 percent of all mobile device owners purchased at least one product using their device during 2013.
Shane Happach, chief commercial officer at WorldPay, even told Mobile Commerce Daily that he projects sales made on mobile credit card payment processing pages and other transactions made via mobile devices will account for up to $117 billion in revenue by the year 2014.
“Mobile commerce offers consumers convenience and creates rich data for businesses, so there’s no doubting its potential,” said Simon Bates, senior policy and initiatives advisor at MEF, told Mobile Commerce Daily. “However, the challenge is the fragmented state of the market – there are no clear technology winners yet. 2014 will see lots more experimentation from marketers and merchants alike, and as the study shows there is lots to learn from other markets and geographies.”
E-commerce companies see great success in Canada
Mobile devices may be helping to drive forward e-commerce in countries where it has not yet become ubiquitous yet. Canadians, for example, have often been referred to as being more reticent than their American counterparts to purchase products online. However, a recent MasterCard report suggests that the scenario could soon be changing.
The latest MasterCard SpendingPulse report found that e-commerce sales in Canada climbed by 22.2 percent month-over-month during December 2013. The online share of retail transactions totaled almost 8 percent for the month, representing a high point for that statistic. E-commerce sales have now improved for 54 consecutive months in Canada, according to the report.
“Canadians are embracing eCommerce, and steady growth is no surprise,” said Sarah Quinlan, senior vice president of market insights for MasterCard Advisors. “However, for the first time total online retail sales reached nearly 8 percent. An impressive share of spending is happening online and it’s a trend that can’t be ignored. Canadians recognize that electronic payments are a safe, reliable and convenient way to purchase items without leaving home to brave the elements.”
Additionally, the average price of products has been going down, according to MasterCard – which suggests that consumers are engaging in an even higher number of transactions than the aforementioned statistics may suggest.
“The price index decline is interesting because it reflects eCommerce growth due to an increase in online transactions, not necessarily higher prices,” Quinlan claimed.Back To Blog