Mobile transactions to hit $730bn by 2017
|14 Aug 2012 10:15 BST||Back|
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The value of mobile transactions for digital and physical goods will exceed $730bn by 2017, a Juniper Research report has found.
This growth will be driven by the increasing scale of real-world (non-digital) purchases from major brands and retailers, says the report.
Companies such as Domino’s in the US and Argos in the UK are already seeing 6-7% of all sales coming through the mobile channel.
Mobile and nomadic devices will account for 30% of eRetail within five years, according to the report.
Purchasing activity will move from laptops and desktops to tablet devices, with consumers increasingly engaging in online shopping while watching TV.
However, mobile transactions will continue to comprise a small minority of a global retail sales marketplace currently worth more than $16tn.
As report author Dr Windsor Holden pointed out: “We have already moved towards a multitasking, multimedia environment which offers brands the opportunity for far greater engagement with consumers than was previously the case. Mobile is increasingly being deployed at all touch points in the retail process – product discovery, product purchase, customer retention.”
The report also noted the growing importance of the mobile device as a “hub”, marrying remote and physical purchases. For example, the eBay Fashion App and Image Swatch allows consumers to take or upload a photograph of an item to search for a product online.
eBay is planning to enhance this application by enabling users to compare prices and item availability both online and via partner bricks-and-mortar stores: the end user can then pay for the item via PayPal before picking up the product from the local store.