Mobile Commerce Is Positioned For Rapid Growth In The Coming Years

The rapid adoption of smartphones and mobile Internet usage is changing the way US consumers shop. Although still nascent, mobile commerce is poised for exponential growth. Mobile retail and travel spending grew by 80% in 2011 and is expected to more than double by the end of this year.

There are various definitions of mobile commerce that include retailtraveladvertising, proximity payments (coming soon), and app downloads, but Forrester combines retail and travel research with an understanding of mobile consumer habits to build its mobile commerce forecast. Shop.org and Forrester Research administer The State of Retailing Online survey annually to online retailers to understand key metrics in shopping trends; this year's survey focused on mobile commerce and mobile retail execution. Having data from both the consumer and merchant perspectives provides us with a richer understanding of the mobile commerce platform and buying behavior.

As the increase in mobile retail buyers is the main driver of mobile commerce spending growth, we sought to highlight the complexity within the buyer ecosystem when constructing the Forrester Research Mobile Commerce Forecast, 2012 to 2017 (US).  Daily Internet users (a group highly correlated with smartphone ownership) and online retail buyers are much more likely to make mobile purchases than other consumers. The growth in these population segments is largely driven by mobile Internet tenure and increasing comfort with mobile Internet security. In fact, monthly mobile Internet users are seven times more likely to make a mobile purchase, with the highest tendencies among daily users.

 

By 2017, mobile commerce is expected to quadruple. Travel is currently, and will continue to be, a significant portion of this total spend. Nonetheless, retail will be the fastest-growing category, reaping approximately $25 billion in 2017. Consumers will spend about half of this on media products, which currently dominate the retail landscape. Over time, apparel and consumer electronics spending will see rapid growth, but media products will continue to lead mobile retail spend. 

 

 

 

 

 

 

Comments

This is absolutely amazing! I

This is absolutely amazing! I wonder who will be the first to really get mobile commerce and make it easy....maybe google wallet? but that's had a slow start.

forecast predictions

stats are usefull to detail the immediate trend to forecast growth, but what about the sustainabilty of societies future trend. We need to know what happens when ideas like the cell phones have been exhausted and are no longer needed by the next generation, what and how usefull would have this study been. What becomes of the communication world? The discovery of the human evolution of telepathy. Several different models should have been produced to depict the rapidly moving society instead of a single view. Can we see more models presented not only based on facts/depicted trends, but of fictional possibilities. Yes, travel may continue to grow, but yet it may not. what if society decides to put a stop on travel due to terrorism/safety of other nations, please elaborate on the effect this will have on your study?

Solavei is making mobile happen through Social Commerce!

Love this article! Take a look at this one, Solavei is a new Social Commerce Company making mobile it's focus! :)
Very cool!
http://www.empowernetwork.com/videomeetingpro/blog/what-is-solavei/?id=v...

Looking Forward,
Seth

2013 will be a mobile year

There are a lot of facts speaking for mobile commerce as an interesting way to shop for many people.

Mobile optimized reachability, short loading times and an easy navigation are imperative for any mobile shop.