“MCommerce is a tech-driven phenomenon, prompting consumer behaviors and preferences to change at the speed of innovation. The allure of anytime, anywhere shopping experiences via smartphones and tablets exerts great force on a global scale” – Internet Retailer
Mobile commerce is gathering momentum, and it’s only going to be the established norm in 2014. With the Christmas shopping season already in full gear, there has never been a more important time to understand the significance of mcommerce. If we look at the U.S. It took widespread adoption in the number of consumers using a combination of smartphones, tablets and the mobile web to shop online, but mcommerce in the U.S. is now mainstream commerce, according to data published in Internet Retailer’s newly released 2014 Mobile 500. The report says, “By year’s end, mobile commerce in the U.S. will grow an estimated 63% to around $34.2 billion, up from $21 billion in 2012. Mobile will account for nearly 13% of all U.S. e-commerce sales, up from just over 9% in 2012″.
If you depend on revenues from the web, then ignoring this trend will mean potentially missing out on mcommerce profits, especially if your website is difficult to navigate on the new but critically important smaller screen. What you need to do straight away is have a Responsive website that is Tap-Friendly: make sure all links,buttons and calls to action are sized appropriately in order to prevent errors.
Baynote in the infographic below visualizes just how powerful mobile marketing has become. Key Takeaways are:
- One in 10 e-commerce dollars are spent today using a smartphone or tablet;
- m-commerce growth is outpacing traditional e-commerce growth by 200 percent;
- for every $1 spent, the average return on retail email marketing is $44.25; and
- the number of people using smartphones has doubled over those who use tablets, but tablet users spend 20 percent more on average.
image credit via Baynote
Hayden Richards is Contributor of IntelligentHQ. He specialises in finance, trading, investment, and technology, with expertise in both buy-side, sell-side. Contributing and advising various global corporations, Hayden is a thought leader, researching on global regulatory subjects, digital, social media strategies and new trends for Businesses, Capital Markets and Financial Services.
Aside from the articles, interviews and content he writes for IntelligentHQ, Hayden is also a content curator for capital markets, analytic platforms and business industry emerging trends. An avid new media explorer Hayden is driven by a passion for business development, innovation, social business, Tech Trading, payments and eCommerce. A native Trinidadian, Hayden is also a veteran, having served with the Royal Air Force Reserves for the past 10 years.
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