Once upon a time, people were uncomfortable putting their credit card numbers into a computer, nevermind a cellphone.
Man, how times have changed!
Nowadays, it’s common to make purchases using anything found in your pocket except for your wallet. For those who aren’t familiar with it, this trend of making purchases with a mobile device such as a smartphone or tablet is known as mobile commerce or “m-commerce.”
Only a few short years ago, m-commerce didn’t merit a section on a pie chart showing the various channels of e-commerce. In 2010, it was only 3% of the total. But at the end of last year, it had grown to approximately 11%, representing $18.6 billion in total spending. And it is now projected to reach 15% of retail e-commerce by year’s end.
As Mobile Commerce Press reports, m-commerce has seen 136% growth from last year! M-commerce conversion rates have also doubled.
The reasons for this growth are many. Almost every part of the mobile sector is influencing, and influenced by, m-commerce. Here are just a few selected factors going into the boom:
A mostly mobile world has become inevitable.
Mobile search and activity will surpass desktop usage in the very near future, and 66% of users simply won’t return to a website if it gives them trouble on their mobile device. For these reasons, it has become critical for businesses to implement appropriate mobile strategies.
But simple implementation has already become the norm! Now, in order to truly maximize the opportunities present, prepare for future changes, and earn a competitive advantage, small businesses would be well advised to be thinking “mobile first.” That is, not just reluctant publication of an app or mobile site, but enthusiastic embracing of mobile technology into core operations.
Mobile subscriptions will reach almost ten billion by 2019, according to projections in Ericsson’s latest Mobility Report. The majority of these subscriptions will be tied to smartphones (as opposed to tablets, for example), thanks to a projected tripling in smartphone subscriptions and tenfold increase in smartphone traffic.
Those are some pretty bold numbers, right? Well, you’ll be happy to hear that they didn’t come out of thin air. While smartphones are currently around 25-30% of the mobile market, in the last quarter, 55% of all devices sold were smartphones. Thus, the hard data is already there when it comes to the smartphone takeover.
You might think the success of your restaurant is decided in the kitchen, but the Internet’s role in a restaurant’s success has grown steadily since it was first launched. Now, the vast majority of customers find restaurants after an Internet search. And where are most Internet searches being conducted nowadays? The answer surprises many . . .
That’s right. 100 billion. With a “B.”
According to new projections from Gartner, app downloads this year will total roughly 102 billion, representing an almost 60% year-over-year gain from 2012. App store revenue will rise, too, moving from $18 billion to $26 billion, in total.
How will all of this activity break down?
“I’ve found 529 Mobile Solutions to be a great mobile marketing partner. Our mobile app has made communication so easy for customers before, during, and after the sale. Our service staff is now right at their finger tips and we have seen a huge increase in sales, service and parts already. The installation and set-up was extremely easy. I highly recommend 529 Mobile to anyone looking for a mobile marketing partner.”
GARY DALTON // SERVICE DIRECTOR AT TOYOTA OF BEDFORD
College Connection KSU, or C2KSU, is a new app that offers students a way to get around campus and keep up with what is happening around town. The app features a campus and city map, a guide that includes shopping, dining, salons, spas and nightlife, a car finder for large Kent parking lots and easy access to multiple cab services.
We are proud to announce the release of our newly redesigned website for 529 Mobile (formally known as 529 Apps). Take a look!