Tablets To Drive Mobile Commerce Sales
Mobile commerce sales are expected to escalate in the coming days, driven largely by strong growth on tablets. A new Forrester Research projects sales from consumers shopping on mobile devices will increase to $38 billion this year and sales from tablets will hit $76 billion. That’s a significant increase from last year when Forrester projected smartphone commerce sales of $24 billion and tablet sales of $48 billion.
Forrester analyst Sucharita Mulpuru also the author of the report states that while smartphone users currently outnumber tablet users by some degree, tablets’ larger screens will lead them to top the total percentage of smartphone buyers within four years. Overall, she says the US online retail sales will grow at a CAGR of 9.5% for the next five years, hitting $414 billion by 2018.
“Today, a minority of mobile phone and tablet owners are actually purchasing products on these devices. In fact, we estimate that only 38% of smartphone owners and 31% of tablet owners will purchase on those devices in 2014,” the report says. “We expect that figure to grow to 55% and 61%, respectively, for smartphones and tablets by 2018,” says Mulpuru.
Meanwhile, retailers have to think about how to make sure that they are capturing as much volume as they can on these devices and that they don’t lose customers because the experience is slow or because the page doesn’t load, she says.
While the US is riding high on mobile commerce, a recent SAP report sees an impressive traction of mobile commerce in India with 80% of the population making parallel usage of the mobile devices such as smartphones and tablets.
The study states that consumers in India are leading the demand for mobile commerce services, with 97% of consumers asking for more mobile interactions with banks, telcos, retailers, utilities and other businesses.
The surging popularity of mobile commerce in the country also highlights the increase in the Internet penetration with 63% of consumers accessing the Internet on their mobile at least once a day. Over 65% of the users feel mobile is a convenient mode of transaction leading to a greater consumer adoption in this segment.
“The dynamic nature of business as well as the freedom to operate from different parts of the world and at odd times has created a need for mobile commerce becoming mainstream,” said Neeraj Athalye, Head - Sales , SAP Platform & Technology Business at SAP.
The study found that India scores high in using mobile for banking transactions when compared to several other countries in the world. With the price of devices, especially tablets expected to down in the coming quarters, mobile commerce sales is likely to witness a greater momentum.
- Is Social Commerce The Next Big Thing In Payment Industry?
- Looking At The World Through A Digital Lens
- Customer-Facing Web, Mobile Apps Pose Highest Security Risk: Study
- Are Brands Getting Too Late To Digitize?
- Ericsson Forecasts 1 Billion 5G Subscriptions By 2023
- Importance of Availability During holiday Season
- How E-Commerce Can Deliver Exceptional Experiences
- What Makes SHAREit So Bullish On India Market
- Yes Bank Automates Field Sales Processes Using Kaizala
- India Sees Highest Rise in Online Shopping in Asia Pacific