If you haven’t noticed the latest stats and projections out from Goldman Sachs, they’re worth taking a look at. The big take away: Mobile commerce is growing 10x faster than non-mobile e-commerce.
For years, analysts have predicted substantial movement towards mobile commerce – but the speed and depth of the shift to m-commerce is pretty stunning. For businesses, the question isn’t “if” they should adopt m-commerce. It’s “how.”
The chart tells it all. According to Goldman Sachs latest report, m-commerce, which accounted for a little more than one quarter of total e-commerce retail sales in 2014, will account for nearly half of all e-commerce sales in 2018. That’s 3x growth for m-commerce while non-mobile e-commerce grows only 31% over the same period.
A few more compelling stats:
- By 2015, 81% of all US cell phone users will have Smartphones.
- 60% of global mobile consumers use mobile devices as their primary or exclusive means of going online, and 83% of them say they will make a purchase on a mobile device in the next 12 months.
It’s clear that if you’re not tapping mobile commerce as a sales channel you’re going to be leaving an increasing amount of money on the table. But you’ll be missing out on other benefits too – the intimacy of mobile devices, the fact that they’re almost always with shoppers, the ability to send push notifications, location-based services, barcode scanning to enhance the shopping experience… these are just a few of the reasons why mobile really matters.
We’ve put together a few additional m-commerce observations and recommendations based on the latest data. Please check and download our whitepaper titled M-Commerce: Seven Essentials.