The latest data is showing that the future of the channel is looking quite bright and appealing.
Mobile phones have become the most commonly used electronic devices on the planet, with a recent U.N. study showing that there is greater access to them around the world than there is to toilets, which is bad news for sanitation but quite promising for m-commerce.
Predictions have shown that there are currently between 6 and 7 billion of the devices currently in use.
While the U.N.’s study said that approximately 6 billion people worldwide have access to mobile phones the International Telecommunications Union’s data from August 2012 had already shown that there were around 7 billion of the devices owned. This would mean that there are over three times as many people exposed to m-commerce than there are PC users.
There are 3.8 times as many people exposed to m-commerce as to online shopping, says the data.
Among some of the additional trends that have developed within this m-commerce industry, according to the ITU report, are:
• Much higher traffic levels over mobile devices around the world
• Location based services
• Mobile marketing and advertising
• Mobile wallets
• And smartphone and tablet based coupons and QR codes
Within those m-commerce trends, the report pointed out the following discoveries based on its data:
• Almost all consumers in Generation Y currently own a mobile phone of some form. Among them, 72 percent own smartphones.
• More than three out of every four Americans younger than the age of 43 use smartphones.
• More than half (53 percent) of American consumers use their smartphones for using search engines at least daily.
• Worldwide, 80 percent of consumers have used a computer to access the internet within the last week. Sixty percent of people around the globe used a mobile device for that access.
The report indicated that the m-commerce market is actually larger than that for desktops and laptops Though sales are far greater over desktops, there are far more consumers who access the internet over mobile, representing a massive opportunity for growth into the near future.