In an effort to understand the changing landscape of e-commerce, we examined analyst and trend-watching data from several sources to build some context around the emergence of m-commerce (mobile commerce). Retail as an industry is experiencing tectonic shifts in consumer behavior and the popularity of devices like smartphones and tablets is having a significant impact on both online and in-store shopping. Remarkably, these relatively new trends are creating their own, newer trends. Showrooming is becoming a common activity in brick-and-mortar stores and gives consumers an opportunity to see and experience products that they then purchase online of via mobile devices.
Price competition has been a driving force in e-commerce trends and m-commerce is giving shoppers exponentially more control over their shopping experience. In the United States alone, m-commerce is expected to hit $18 billion by 2014 with e-commerce making up more than half of all retail purchases worldwide. Ensure your business is prepared for the shifting environment and don’t get left behind.
A few significant data points from the research:
- Smartphone users spend more time on mobile apps than on mobile sites
- 1 out of every 5 people research products on mobile devices while watching TV
- Men are set to outspend women on mobile devices
- Digital content is still the leading product purchased via mobile device
- Mobile shoppers make the majority of their purchases on the weekends
- 53% of mobile consumers use their device to “showroom” products
Check out the whole story in the infographic below (click on the image to view larger.)