Shopping On Your Mobile Phone Is Trending!
Even though it was initially received with a natural dose of skepticism, ecommerce has become one of the highly appreciated trading methods. The most logical explanation for this is that it addresses the main limitation posed by physical transactions, namely having to go down to the store to acquire the things you need.
Despite the fact that it made shopping at home a reality, it seems that buying from the comfort of your home is not enough for people nowadays. Like it or not, efficient trading these days entails the possibility to buy and sell, regardless of the location. Simply put, ecommerce is slowly but certainly evolving into trading directly from the mobile devices, which is aptly known as mcommerce.
Data on mobile payments 2010 – 2011
Mobile payments done as SMS transactions, mobile web payments or direct billing have increased exponentially in 2011 compared to the previous year. Following is a summary of the common mobile payments that will help you understand the trends better:
- Compared to 2010, the mobile payment volume worldwide has almost doubled, from about 49 billions of dollars to a little over 86 billions of dollars in 2011.
- According to eMarketer, the sales volume is expected to grow even further in 2012 and economic analysts expect the total sum to reach approximately 245 billions of dollars in 2014.
- The mobile customers are also expected to grow exponentially and reach 5% of the world’s mobile subscribers in 2015.
- The e-payments and m-payments for 2010 reached a surprisingly 22.5 billion dollars in total, out of which the m-payments recorded a total of 4.6 billion dollars in 2010. However, they are expected to triple until 2013 and reach 15.3 billion dollars.
- The number of mobile users that prefer mobile payment will increase from 116 million in 2010 to 375 million users in 2015.
How are mobile owners using their devices?
Here are the trends of how mobile owners used their devices in the 2010 – 2011 period:
- The number of users who engage in shopping activities on their devices increased by 15%.
- The vast majority of users with ages between 18 and 34 and a third of users over 55 years old claim they made at least one purchase with their mobile phone.
- Men between 30 and 49 years old are the most active mobile users who prefer mobile commerce, spending over 31% more than women in the same category.
- 30% of tablet owners and 25% of smartphone owners use the device for shopping online.
- In the U.S. the number of mobile shoppers grows every year: almost 400 million dollars in 2008, 1.4 billion dollars in 2009 and 3.4 billion dollars in 2010.
Should you start designing mobile friendly sites and apps?
While the transition as well as expansion from ecommerce to mcommerce is imminent, many economists agree that for the time being, the mobile trading is at an early stage. To be more exact, even though consumers are well-aware of the versatility and benefits of mobile commerce, they are still reluctant to try this type of trading, mostly because the specialized sites and the apps that allow them to view the products properly are missing. If the lack of mobile friendly sites and apps is the main reason why users are hesitant regarding mobile commerce, then you will have numerous benefits to enjoy by creating a mobile commerce site that can address this issue!