Future of Mobile commerce
Studies and reports show how consumption habits and purchase methods are changing. In the last few years, the time spent on surfing to the Internet is on the increase, and the way people use their devices to be connected is totally different, since they are increasingly used for almost all their activities (work, sleep, eat, etc.).
The payment methods sector has had to change to be adapted to this demand. According to Sipay, the studies estimate that the majority of purchases will be made through the electronic commerce. And according to a research published by the National Observatory of the Telecommunications, it is expected that by 2015, only in Spain, 33% of population will acquire the products they want online.
The reasons why people prefer eCommerce than going to the brick and mortar shop is due to three fundamental aspects: commodity, prices and offers and time saving. People also highlight the facility to buy and get information, quick delivery and recommendation by other people.
eMarketer Inc. suggests that by 2016, global B2C ecommerce sales will be around $2,0657 billions. It should also be taken into account that B2B sales (between companies) are not shown in this study, and it is a segment into actual growth in the worldwide Ecommerce. This growth divided into continents will be: Middle East and Africa 20%, Latin America 15%, Central Eastern Europe 12%, Western Europe 10%, North America 12%, Asia-Pacific 29%.
That’s why among all the online payment methods, the Mobile Ecommerce is becoming the alternative way for paying online. In this sense, Juniper Research suggests that by 2017, 2 billion of users swill make any transaction through a smartphone or tablet. It also suggests that there will be nearly 200 billion of eCommerce transactions by 2019, up from 72 billion this year. This is due to the launch of Apple Pay and other new solutions based on Host Card Emulation technology.
According to a study carried out by Forrester, the mCommerce will achieve sales of $293 million in the following years, taking position of the 54% of the online sales. And according to the Goldman Sachs inversions bank, global sales by mCommerce will be the half of the total sales on the Internet by 2018, representing the 46.6% of e-commerce sales and reaching to $626 billion.
All of this leads to the conclusion that companies which don’t optimize for the mCommerce entail the danger of suffering a significant drop in conversion rates and earnings. We don’t have to think only of mobile as a reflex of the experience in computing, but as an individual component of a complete multichannel experience which entails conversions from the shopping cart.