7A3DDBF8DF-1024x694

The mobile commerce, and the technology that enables it, is becoming more and more popular every year. The growth of mobile shopping means that the majority of all shopping could soon be done over a smartphone or a tablet. Over at eProjects, we wanted to take the time to review this industry’s impressive growth with the help of this comprehensive guide from our friends at Mobify.

 

WHO SHOPS ON THEIR PHONE?

Many Americans own smartphones and use them for everything from work to music to Angry Birds. It is no surprise, then, that 96% of 18 to 24 year olds believe that the smartphone is the most essential item of everyday life. Thus it is this group that use mobile shopping the most. It is believed that the majority of this age group feels that online shopping is far easier than going into a physical shop.

Many companies are now encouraging these millennial to use their smartphones to make purchases as an online store uses less capital than a physical one. As more and more people are encouraged to purchase this way, physical shops could soon phase out as nobody will want to pay more money to purchase than is necessary.

 

MOBILE SHOPPING ECONOMY GROWING TRENDS

Mobile shopping is a recent phenomenon that has grown rapidly over the last few years. In the year 2004, £15.8B was spent on mobile shopping in the UK. This figure has doubled in only 10 years with figures standing at £33.4B in 2014. One of the reasons for this growth is the popularity of the mobile phone. It is estimated that 50% of all Internet sales in the UK are done over a mobile phone or a tablet.

In the United States 29% of people using smartphones and 28% of people using tables claimed to have made a purchase with the use of their mobile device in 2013. Today many more Americans claim even if they have not made the purchase over their mobile device, they have at least found a product on their mobile device and used this research to go to the store and buy it.

 

MOBILE TECHNOLOGY MAKES MOBILE SHOPPING EASIER

There are now so many different ways to pay using a mobile device that makes mobile shopping easier than ever before. As the mobile shopping grows, more ways of payment are being considered. Mobiles apps designed for paying others include:

  • Applepay
  • Paypal
  • Payso
  • Pingit

Even if a purchase is made in a physical store, the mobile device is becoming a more common way to pay showing a new way of mobile shopping commerce.

 

CONCLUSION

The mobile shopping economy has already seen great advances over the last ten years. As more and more people are encouraged to purchase online, the cheaper prices will act as direct competition for physical shops. This completion may well kill off the physical shop altogether in the same way the supermarket has almost killed the local shop in the UK highstreets.