CHART: Mobile Commerce Continues Its Massive Rise
As recently as late 2010, mobile commerce was only 3% of e-commerce. But, that number has steadily been on the rise. At the end of last year's holiday shopping season, that number it had soared to 11%.
That's approximately $18.6 billion in consumer spending - and that doesn't even include travel-related purchases. Thanks in part to a new ecosystem of retail and shopping apps, mobile-generated retail spend could rise to 15% of retail e-commerce by the end of this year. In a new report from BI Intelligence, we examine the why mobile commerce is exploding and dig deeper into the numbers underpinning the explosive growth.
We also analyze the growth and success of new mobile merchandising trends — merchandising being the art of selling people products they didn't know they wanted — like mobile catalogs and coupons.
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Here's a few reasons why the number should continue to rise dramatically:
- Currently, 54% of adults in the U.S. own smartphones and about 25% own tablets. In roughly three years, the number of tablets alone will overtake the number of PCs. By 2016, about 450 million tablets will be sold annually worldwide.
- Statistics already show that a disproportionate share of mobile traffic to e-commerce websites comes from tablets. With only a 25% penetration rate, tablets account for well over 40% of mobile traffic to e-commerce sites.
- For close to 50% of 12-17 year-old smartphone owners, the smartphone is their primary internet access device. It follows that for younger consumers mobile commerce and buying via smartphones and tablets will be a habit and much less of a novelty than it is for older consumers.
- Mobile commerce is driving incremental e-commerce revenues that would not have happened without the availability of tablets and smartphones as new shopping mediums.