Proliferation of mobile devices like Smartphones and tablets has totally revolutionized the mobile commerce arena, and the industry is expected to cross $31 billion mark by 2016. People are using mobile devices on a large scale for all kinds of transactions like shopping, money transfer, access to information, interaction and data sharing. The m-commerce revolution has started to eat into the E-commerce industry. Consumers can make online purchases anytime, and at any place that has a mobile signal or a Wi-Fi hotspot. Top brands are adopting mobile first strategy and optimizing their websites for the mobile platform.
Marketers should focus on investing a major share of mobile campaigns on m-commerce, as the usage of mobile phones is bound to reach new heights in future. More than three-fourth of the m-commerce solutions are being accessed using mobile web.
Baynote, a leading provider of personalized customer experience solutions for multi-channel retailers, recently depicted the booming m-commerce industry through an Infographic. A few interesting facts and details are presented below.
- The m-commerce growth is outpacing traditional e-commerce growth by 200%. Now, one in ten, e-commerce dollar is spent using a Smartphone or a tablet.
- Nearly 63% of people are expected to shop more through their mobile phones in the upcoming years. Hence it is vital for marketers to frame strategies according to the trend followed by consumers and adopt a mobile first strategy.
- People are so attached to their mobile devices that on an average every 6.5 minutes, users check mobile phones and about 61% of people have a better opinion of brands that offer a good mobile experience.
- E-mail marketing which was on the cusp of extinction thanks to the latest social media marketing trends, has got a new lease of life due to the uptrend in usage of mobile devices. Nearly 64% of decision makers read their emails via mobile devices.
- It is vital for firms to optimize their websites and various marketing initiatives for the mobile platform. For every $1 spent on e-mail marketing, average returns are around $44.25.
- One out of every three visitors to online retail sites are on mobile. About 48% of time that consumers spend on e-commerce sites, is spent on mobile devices.
- Nearly 50% of all unique opens for retail sites happen on smartphones and tablets. About 68% of unique opens happens on iPhones and 48% of transactions are made on an iPad.
- Significant diversity was observed between how consumers use each device. People using Smartphones are currently twice the number compared to those using tablets, yet tablet users spend 20% more on an average per device.
- Apparel and accessories, computer hardware and event tickets are amongst the top m-commerce purchases made by consumers. Apple Inc.(NASDAQ:AAPL) recorded highest mobile sales of $8,400,000,000 followed by Amazon.com Inc. (NASDAQ:AMZN) with $8,000,000,000 and QVC with $1,000,000,000.
- Amazon.com and Groupon Inc. (NASDAQ:GRPN) were amongst the top two, in terms of mobile monthly unique visitors, with recorded figures of 42,000,000.
- Amazon recorded the highest conversion rate of 13.% followed by Apple with 6.10% and QVC with 4.90%.