Mobile payments sector continues to experience strong growth, especially in terms of investments
The past year represented a major tipping point for the mobile commerce sector. More people than ever before began to use their mobile devices to shop online and purchase products in physical stores. More retailers began to accept mobile transactions and investments being made into the mobile commerce space grew significantly. This year, much of the momentum that was generated for this sector in 2014 is likely to carry on, leading the mobile commerce space to greater heights.
Report highlights the massive investments flooding into the mobile commerce space
According to a recent report from Digi-Capital, investments in the mobile commerce space reached $4.2 billion from 2013 to 2014. Much of this capital came from a handful of investors, including Uber and Pinterest. This funding has helped many startups establish strong footholds in the competitive mobile commerce market, allowing them to engage consumers and connect with businesses in a more effective manner.
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Investments expected to continue growing as mobile commerce becomes ever more popular
Investments in the mobile commerce space are likely to continue growing, especially as consumers become more comfortable with mobile shopping and payments. While large companies like Apple and Google have entered into the mobile payments market, they do not offer a service that has become a mainstream success. Instead, smaller startups are finding significant favor with consumers, often because these startups offer convenient services that are somewhat innovative and easier for consumers to use. As such, startups are likely to continue receiving strong support from investors.
Visual commerce may become a new force in the retail sector and among mobile applications and social networks
This year may see the rise of visual commerce, which is a relatively new term that involves the use of photo rich content to attract a large audience. Businesses are beginning to put more effort into created visual experiences, hoping to create an enticing environment for consumers. These experiences are becoming more common on mobile applications, which some companies are hoping will translate into shopping experiences.