Report highlights the growth that the global mobile commerce market is experiencing
A new report from yStats shows that mobile commerce is experiencing healthy growth throughout the world. The report notes that the global mobile commerce market has, in some cases, seen triple digit growth rates, which means that the market is beginning to overshadow the overall online retail market in terms of sales growth. Notably, however, desktop computers remain the favored way for consumers to shop online, but many are beginning to use their smartphones to shop for and purchase products in the digital space.
Asia-Pacific region is showing healthy mobile growth
The Asia-Pacific region is, perhaps, one of the fastest growing mobile commerce markets in the world. The countries in this region are leading the way in terms of consumers using their mobile devices to shop online. The report suggests that more than half of all online shoppers in the Asia-Pacific region have used a mobile devices to make a purchase. In South Korea, mobile shopping appears to be accelerating at a rapid pace, with a third of the country’s shoppers using a mobile devices to make a purchase online. In Japan, young women are significantly more likely to participate in mobile commerce and in China, the number of mobile shoppers grew by more than 200 million in 2014.
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Retailers are beginning to take mobile consumers more seriously
Mobile commerce is becoming a very powerful force in the retail sector. One of the reasons that mobile shopping is growing quickly is because of the number of retailers that have begun to take mobile consumers seriously. Retailers are looking for ways to engage consumers more effectively, and mobile commerce may be the best way to do so. Currently, supporting online payments is the primary way retailers engage in mobile commerce, but many are beginning to support mobile transactions in their physical stores as well.
Asia-Pacific is expected to lead in mobile commerce growth
The Asia-Pacific region is likely to continue leading the way when it comes to mobile commerce adoption and activity. Several other countries are catching up to those in this region, but retailers in these markets have been relatively slow in embracing mobile commerce on behalf of consumers using their smartphones and tablets to purchase products.