For the first time ever, tablet payments comprised almost half of all mobile commerce in 2013, marking an important mobile payment “first,” according to a new study by Javelin Strategy & Research. In 2013, tablets accounted for a massive $28.7 billion in mobile online commerce, or over 50% of the entire mobile online payments space. That is quintuple 2012’s $5.1 billion.
RISING OWNERSHIP FUELS TABLET PAYMENTS
The portion of commerce generated through tablets is fueled by rising device ownership, as mobile consumers ownership of tablets doubled since 2012. Consumer spend on tablets surpassed phones for the first time in 2013 as tablet adoption swelled. Consumer mobile purchasing surged to an all-time high, reaching almost $60 billion and demonstrating triple-digit growth in 2013. Consumers are increasingly turning to tablets and phones for purchasing despite the fact that many sites are not ideally set up yet for mobile devices.
MARKETERS SHOULD OFFER TABLET-OPTIMIZED SHOPPING EXPERIENCE
As tablet ownership rates continue to grow, the devices are expected to serve as an increasingly dominant purchase channel. Creating tablet-optimized shopping experiences through the app and browser should be a top priority for merchants and other parties looking to capitalize on the growth of mobile online payments. Vendors and merchants are challenged to seamlessly integrate mobile into the online and in-store search and shopping experience.
Mary Monahan, Executive Vice President and Director of mobile at Javelin Strategy & Research, says “… mobile consumer purchasing habits… evolving from purely app- or browser-based purchasing toward both methods in tandem… critical for vendors to ensure that the user experience is similar for both methods so that crossover is frictionless…”
Source: Research conducted by Javelin Strategy & Research. 17 Feb 2014. Web. 27 Feb. 2014.]