Take a look around you. Most people have a smartphone—yes, even the ones that aren’t glued to the screen as they pass you on the street.
The mobile market has expanded astronomically in the past few years. There are now nearly 2 million apps available in the app stores of the most popular mobile devices. Just think… a few decades ago, nobody had an app for that.
Mobile Meets Commerce
Brick-and-mortar establishments once dominated the retail sales market, but many business owners have been forced to close up shop due to a lack of revenue. But despite the Great Recession that the U.S. is still recovering from, some retailers have been very successful. How is this possible?
E-commerce. Many retailers have adapted with the changing times, purchasing SaaS software to create all-new digital storefronts, and some have kept their physical shops while adding the online element. Online shopping saves time and money, the two factors that largely determine a consumer’s decision to purchase. Interestingly, mobile e-commerce has seen the greatest spike in 2013. Check out these statistics about mobile e-commerce to see just where the trends are heading.
What’s Trending with Mobile?
- Mobile e-commerce grew by an astounding 31% in the first quarter of 2013 alone. The total revenue generated from sales made through smartphones and tablets during these three months was nearly $9 billion.
- E-commerce revenue is expected to exceed $1 trillion this year. Just thinking that a decade ago online sales were a mere fraction of this figure is astounding enough. The U.S. is leading the race, as its citizens are expected to account for over 1/3 of this revenue.
- More men are using mobile than women. In the U.S., a recent study found that 16% of men compared to 13% of women preferred to shop online as opposed to in a store. We all know how that goes…
E-commerce could be the answer for many struggling brick-and-mortar retailers. Commerce has changed countless times since the Ancient Egyptians, Phoenicians, and Greeks started it all thousands of years ago. One thing has not changed, though—that commerce is a relationship between sellers and buyers. E-commerce holds up this tradition and will continue to grow in popularity in the coming years.
Business owners unsure of how to make the switch, or at least how to add an online component to their stores, should contact an e-commerce consultant or e-commerce web development company for advice. Good luck!