Mobile transactions to soar to $750b by 2017
Mobile transactions for physical and digital products using smartphones and tablets are on track to soar to a staggering $750b annually by 2017.
According to a new report by Juniper Research, the surge will coincide with the rapid uptake of tablet adoption which will see the migration of many transactions away from laptop and desktop computers.
Juniper Research’s report says consumers are increasingly engaging in online shopping while watching TV.
This “couch commerce” will account for 30 per cent of all eRetail purchases within five years, according to the report.
“We have already moved towards a multitasking, multimedia environment which offers brands the opportunity for far greater engagement with consumers than was previously the case,” says report author Dr Windsor Holden.
“Mobile is being increasingly deployed at all touch points in the retail process – product discovery, product purchase, customer retention.”
The Juniper Research also noted the marriage of mobile devices as a hub for physical purchases will increase.
This will allow customers to shop and pay for the item using their tablet or smartphone and then pick up the item from the retail partner’s local store.