As recently as late 2010, mobile commerce was only 3% of e-commerce. But, that number has steadily been on the rise. At the end of last year’s holiday shopping season, that number it had soared to 11%.
That’s approximately $18.6 billion in consumer spending – and that doesn’t even include travel-related purchases. Thanks in part to a new ecosystem of retail and shopping apps, mobile-generated retail spend could rise to 15% of retail e-commerce by the end of this year.
We also analyse the growth and success of new mobile merchandising trends — merchandising being the art of selling people products they didn’t know they wanted — like mobile catalogues and coupons.
Here’s a few reasons why the number should continue to rise dramatically:
- Currently, 54% of adults in the U.S. own smartphones and about 25% own tablets. In roughly three years, the number of tablets alone will overtake the number of PCs. By 2016, about 450 million tablets will be sold annually worldwide.
- Statistics already show that a disproportionate share of mobile traffic to e-commerce websites comes from tablets. With only a 25% penetration rate, tablets account for well over 40% of mobile traffic to e-commerce sites.
- For close to 50% of 12-17 year-old smartphone owners, the smartphone is their primary internet access device. It follows that for younger consumers mobile commerce and buying via smartphones and tablets will be a habit and much less of a novelty than it is for older consumers.
- Mobile commerce is driving incremental e-commerce revenues that would not have happened without the availability of tablets and smartphones as new shopping mediums.