Report shows that mobile shopping is on the rise throughout the US
BI Intelligence has released a report concerning the ongoing growth of mobile commerce in the U.S. The rate at which people are using their smartphones and tablets to shop for and purchase products online and in physical stores is growing. Mobile purchases in physical retail stores is still quite low when compared to spending online, but more retailers are beginning to take steps to accept mobile payments in their stores.
Mobile spending reaches $8 billion in the second quarter of this year
According to the report, mobile commerce throughout the U.S. grew by 48% year-over-year, reaching $8 billion in the second quarter of this year. This is the fastest increase in mobile spending since the first quarter f 2012. Consumers are beginning to see the value of mobile devices and how they can be used to shop whenever and wherever they may be at any given time. The convenient nature of mobile shopping has also proved to be quite appealing to consumers in general.
E-commerce remains the dominating force in retail
E-commerce is still well ahead of mobile spending. While e-commerce saw smaller growth, it does account for 5.9% of all retail sales in the U.S., reaching $70.1 billion so far this year. Approximately 11% of all e-commerce sales come from mobile devices, however, and these devices are likely to continue making up a larger portion of sales in the coming years.
People are becoming more accepting of mobile commerce, despite some security concerns
As consumers begin to favor their mobile devices over traditional desktop computers, traditional e-commerce may see a significant decline in its rate of growth. Many people are beginning to favor their mobile devices when shopping online because of the convenience it brings to their lives. There are concerns regarding the security of mobile commerce, but these concerns have not been enough to significant slow the growth of mobile shopping. Whether or not consumers will continue to show favor for mobile commerce may largely depend on if retailers can continue supporting mobile payments in favorable ways.