Spending on Mobile Devices Soaring
Two new studies show how rapidly shopping habits are shifting to mobile devices.
A Javelin Strategy & Research study reveals over $20.7 billion in sales took place on mobile devices last year. This includes both online and in-store shopping.
The report underscores how retailers need to adjust to this booming mobile commerce, especially in the area of tablets. The report found a significant increase in spending when consumers use a tablet. Tablet users spend an average of $10 more per purchase than a mobile phone user.
Another study highlights the exponential growth expected in mobile devices in the next five years.
The IDC Financial Insights report, Technology Selection: Worldwide Mobile Payments 2012-2017 Forecast, predicts that purchase volume on mobile devices throughout the world by consumers and businesses will exceed $1 trillion by 2017.
According to IDC, the majority of this volume will come from mobile commerce which includes both e-commerce through a mobile web browser and the purchase of digital media.