December 29, 2015
The US mobile commerce segment accounted for somewhere between 15% and 17% of retail e-commerce sales in 2014. The value of commerce transactions conducted via mobile handsets/tablets is expected to exceed US $120 billion by 2017 with 150 million users. Mobile commerce growth in the US is driven by the increasing convenience, value & security available to consumers via smart devices. Retailers are developing efficient mobile websites/apps and even delivering omnichannel experiences. But what’s trending in mobile commerce are the powerful Buy Now call-to-action buttons within social media platforms and other websites.
Studies on mobile commerce indicate that a significant disconnect has emerged between the amount of time and money users spend across platforms. According to a Q1 2015 comScore report, technology users spend 59% of their time on mobile devices, but only 15% of virtual dollars (compared to the roughly 41% of time spent on desktop computers that bring in 85% of the digital profit). This 44% disparity—the difference between usage time and conversion to sales via mobile—is what industry experts are calling the m-commerce gap. Broken down differently, Web shoppers are spending roughly $2 per minute online. Mobile shoppers are only spending 25 cents per minute.
M-commerce has been slow to bring in the sales, but its power as a p ...