New report predicts exponential growth for mobile commerce in 2015
Mobile commerce is growing quickly in India. Many of the country’s retailers are beginning to invest in the mobile space as a way to engage consumers that are using their smartphones and tablets to shop online and in physical stores. Vizury, a leading marketing and remarketing firm, has released a new report concerning the state of India’s mobile commerce sector. The report shows that the sector is poised to see exponential growth in 2015.
Report shows that mobile commerce represents 58% of all online sales
According to the report, consumers are using their mobile devices for more than just searching for products online. Mobile commerce throughout the country has growth by 130% over the past year, with mobile representing 58% f all online sales made in the country. Mobile consumers are also more active shoppers, spending more time looking for and purchasing products than those visiting physical stores. The report also shows that mobile apps are a larger contributor to sales in online retail.
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Consumers still comfortable with conventional forms of commerce
Though mobile commerce is growing quickly in India, many consumers prefer to shop with their personal computers. Consumers are spending significantly more money through conventional e-commerce than they are through mobile channels. This may have to do with the comfort consumers have built with desktops and e-commerce in general. Physical stores still hold a dominating position in the retail industry as well, with many people opting to visit a physical store rather than participate in mobile commerce.
India will continue to grow as a mobile market
Over the next several months, mobile commerce is expected to continue growing at a rapid pace in India. The country has become one of the most active mobile commerce markets in the world. This is due to the growing smartphone penetration throughout India. As more consumers gain access to mobile devices, as well as the mobile Internet, they are becoming interested in new ways to shop online and taking advantage of mobile-centric retail initiatives.