“Customers that browse across multiple digital environments hold the highest conversion rates — and lifetime value.”
U.S. online retail sales will reach $334 billion this year and Online Retail Sales To Top $480 Billion By 2019, according to ForresterÛªs latest five-year eCommerce forecast. Already, 69% of the U.S. online population regularly buys products online, with clothing, consumer electronics
Mobile commerce is growing at nearly 3 times the rate of overall e-commerce, according to PayPal and Ipsos, and retailers are steadily realizing the need to enhance each touchpoint on their customersÛª paths to purchase. To keep up with the surge in mobile shopping, 68% of CFOs plan to increase
Sales made through mobile phones and tablets are just beginning to have an impact on e-commerce, however, those transactions are expected to reach $293 billion by 2018, or approximately 54% of all online sales. Tablets are expected to drive $219 billion of those purchases, and smartphones $74 billion. And by the end of this year, combined tablet and mobile sales are expected to total $114 billion, powered by media products, clothing and consumer electronics.
Airline passengers might be taking a closer look at the SkyMall magazine in the seat pocket in front of them, as more airlines add mobile payment options. More than a third (36%) of airlines plan to accept mobile payments on-board flights within the next two years, according to a new survey. Airlines expect mobile payment options to create extra revenue as more passengers pay for a flight, buy an upgrade, buy in-flight goods, etc.
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. 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.
The march to more smartphones continues, paving the way for mobile commerce. The latest data from comScore shows that smartphone penetration has reached a significant majority, with 156 million people in the U.S. now owning a smartphone. However, the key for all this smartphone growth is not necessarily the number of phones but the usage patterns.
The m-commerce market is expected to account for 24.4% of overall e-commerce revenues by the end of 2017. According to ABI Research, this growth is being fueled by the rapid adoption of smartphones in both mature and developing markets, as well as a retail market in which traditional brick-and-mortar retailers are implementing multi-channel strategies in the face of increasing competition from Internet-based vendors.
U.S. m-commerce sales are on a steep upward trajectory, thanks in part to ever-increasing adoption of smartphones and the mobile internet among the U.S. mobile population. eMarketer estimates mobile commerce sales will reach $6.7 billion in 2011 —a tiny fraction of overall retail sales, but a 91.4% increase over 2010. In 2012, sales will rise another 73.1%, to $11.6 billion.
Consumers have more ways than ever to purchase goods and service online. The rapid adoption of both smart phones and tablets is translating into higher mobile commerce sales. As a result, vendors are quickly launching mobile commerce channels to make sure they’re not losing sales to the competition.