The latest statistics have been released by comScore and have found that the market is growing fast.
According to the most recent data release by comScore, the mobile commerce market has increased by 24 percent over the last year, and this has represented a massive spike in sales to $4.7 billion dollars.
The year over year data is very promising as it showed that considerable progress has been made.
The report indicated that while the increase that was seen in overall online shopping was nearly 16 percent, year over year, bringing it to $49.8 billion, it is the sales that have occurred over mobile commerce that have seen the largest amount of upward motion, as those figures increased by 24 percent.
The research also looked into the various categories of mobile commerce that were most popular among shoppers.
What it found was that online purchases made up about 9.6 percent of the discretionary spending. The categories that saw the largest amount of growth included digital content and subscriptions, clothing, and sports and fitness. All of their categories had an overall growth of 19 percent.
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The chairperson of comScore, Gian Fulgoni, explained that this year’s second quarter experienced a “healthy acceleration” of spending over the online channels, bringing the overall growth rate to almost 16 percent. This was particularly boosted by April’s high spending figures when consumers considerably increased their online spending.
Fulgoni also pointed out that the “Increased spending growth for the quarter not only reflects the long term share shift towards digital commerce, but also the near-term signals of sustained improvement in consumer sentiment.” He explained that the strength in this area is especially important as the trends in the second quarter tend to be the lightest that are experienced in a year on e-commerce channels. Therefore, this becomes a very promising indicator for the second half of the year for online shopping and mobile commerce purchases.
The online and mobile commerce research also indicated that clothing and accessories were the product category that are currently experiencing the largest amount of growth among smartphone and tablet shoppers. In Q2, the sales had reached over $700 million.