Market research company predicts mobile commerce to reach $31 billion in 5 years

Mobile Shopping Trends Report 2011
Forrester Research, a market research company based in Cambridge, MA, released a report that outlined the results of a detailed study of the increase in the mobile device and Smartphone market, and the significance of that intensification with regards to shopping by way of mobile devices.

The report explained that regardless of an augmentation of the popularity of both Smartphone and mobile devices, which has been occurring at an exponential rate, consumers have not yet fully accepted the idea of shopping by way of those devices.

The Forrester study results indicated that at the moment, shopping by way of mobile device represents only 2 percent of all online purchases that occur in total.

Nevertheless, this same firm also indicated that it forecasts significant positive growth in that area beyond the weak present position of mobile shopping trends. They explained that its skyrocketing growth is merely a matter of manufacturing and selling devices and technologies that feature adaptations that will make the process much simpler for consumers and merchants.

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Technology Quotes That Invite Thought - "If your plans don't include mobile, your plans are not finished." - Wendy Clark, Coca-Cola

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The report said that by the year 2016, it predicts that mobile commerce will be worth $31 billion. It noted that “While this represents a compounded annual growth rate of 39% from 2011 to 2016, mobile commerce is only expected to be 7%” of the total eCommerce sales that will be seen five years from now.

Moreover, in similar news, a survey held by Shop.org on behalf of Forrester showed that 90 percent of internet retailers have already started to assemble their own mobile shopping strategies.

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