Do you believe that the number of mobile devices on earth is more than the world population? 57% of users say they won’t recommend a business with a poorly designed mobile site. On the other hand, 41% of people have used a mobile device to browse for a product after seeing it in a show or advertisement. There are 68% who do retail research on smart phone and 35% decided to purchase on smart phone, 21% to purchase on tablet, 28% on laptop and 37% to purchase in-store.
What are all these telling you and me? Well, it sounds for me that – your customers just like to purchase ANYTIME, ANYWHERE !
What is Mobile Commerce? Where is Mobile Commerce?
Mobile Commerce is also known as M-Commerce or mCommerce. It is the ability to conduct commerce through a mobile device. In other words, it is another business transaction done through mobile equipments including smart phones, PDA and other hand held devices.
According to the statistics of global mobile payment, the transaction value has gone up dramatically from $226 billions (2012) to $252 billions (2013) and it is predicted to reach $278 billions in 2014 [Forrester.com]. You might be wrong if you think that these figures are contributed mostly from US market. In fact, M-Commerce in the US is still a insignificant fraction as the US M-Commerce sales statistics stated $8 billions (2012), $12 billions (2013) and estimated $17 billions (2014) [Forrester.com]. So in average, US only made up to around 4.8% of the total M-Commerce transaction.
Currently, Asia is the leading mobile commerce growth following by Europe while the concept is beginning to become common in North and South America.
What kind of transaction is made through mobile?
Before deciding into the mobile commerce, it is always good to be able to smell what sells first. 41% of smart phone users have made a purchase from their mobile phones. The following percentage counts for the sales done through mobile devices in their respective fields – 17% Travel reservations, 16% Apparel, 15% Food and beverages, 11% Toys and games, 11% Electronics, 8% Home goods, 4% Sport games, 4% Books, 3% Jewelry and 8% others.
If you are still hesitating about mobile commerce, perhaps more statistics [Super Monitoring] here can help you make the call. There are 67% users who decide to visit the website after seeing the mobile ads, 52% visiting the store/retailer/business, 45% to locate the advertiser on the map and 37% to call the advertiser. 79% of smart phone users use their phones to help with shopping and 74% make a purchase as a result [Google/Ipsos 2010], 72% of smart phone shoppers who make a purchase with their device do it at home [Nielsen]. Also, 80% of merchants plan to conduct mobile commerce in the next 12 months.
Whilst for those who had ventured in it and want to maximize their investments in smart phone based mobile commerce, it is recommended to focus on tailoring search ads for mobile shoppers, responsive web design, providing easy transactions, and facilitate a fast checkout solution.
For exploring the option further, kindly contact us at info@paymundo.com
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