As ecommerce sales continue their meteoric growth, mobile is grabbing a larger market share, with smartphone-enabled purchases set to grow from $122 billion in 2015 to nearly $319 billion by 2020, according to a new report from Javelin.
A greater number of overall ecommerce purchases will come from smartphones, per Javelin’s estimate that mcommerce purchases will make up 49 percent of total online retail commerce in 2020, a significant increase from 29 percent in 2015. The enlarging spotlight placed on mobile is partly due to retailers’ ongoing efforts to provide smartphone-friendly offerings and checkout solutions to customers, according to Javelin’s 2016 Online Retail Payments Forecast
“Mobile is the growth engine of digital commerce,” said Michael Moeser, director of payments practice at Javelin. “It is being driven by a combination of retailers flocking to offer mobile solutions to consumers (Papa John’s app promoting buy online, pick up in store, IKEA’s in-store mobile app checkout, etc.), issuers and card networks enabling more mobile in-app and proximity payments (e.g. Masterpass, Visa Checkout, Chase Pay) and consumers gravitating towards mobile for digital purchases.
“Think Internet of Things devices, subscription services like Spotify, Blue Apron, and mobile consumption apps like Fandango.”
Source: Mobile Commerce Daily
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