Mobile Commerce<br />By Clark Ingram and Caitlin Worley<br />
What is Mobile Commerce?<br />“Electronic commerce transacted over mobile communication devices such as cell phones or personal digital assistants (PDA).” <br />Source: http://www.businessdictionary.com/definition/m-commerce.html<br />
History of Mobile Commerce<br />Invention credited to engineer Matt Wilson<br />First use of this technology was in 1997 in Finland<br />Original technology used text messages for payment for products and services<br />In 2000 many other countries began offering mobile payment services for parking, train tickets, and airline reservations<br />In 2006 the iPhone was developed and applications became the new method of mobile shopping<br />
Advantages of Mobile Commerce<br /><ul><li>Wider reach for retailers and consumers
Lack of confidence in products</li></li></ul><li>Forecasts and Trends in Mobile Commerce<br /><ul><li>From 2009 to 2010, global mobile commerce sales rose from $1.2 billion to $6 billion
Mobile commerce now accounts for 6% of the total global online sales, up from just 0.6% in 2009
Mobile shopping sales are expected to increase at a rate of 40% every year for the next 5 years, eventually topping $31 billion worldwide by 2016</li></li></ul><li>Forecasts and Trends in Mobile Commerce<br /><ul><li> China is the fastest-growing market for mobile commerce
Currently ranked 3rd in the world in mobile commerce sales behind Japan and the USA
850 million people in China have mobile devices
Smartphone sales and installation of 3G networks are both increasing significantly there
In 2009, mobile commerce revenue made up 0.3% of the total online sales revenue in China. Currently that number has already risen to 6.4%.</li></li></ul><li>Forecasts and Trends in Mobile Commerce<br /><ul><li> Men between the ages of 30 to 49 make up the majority of mobile commerce consumers worldwide
They not only shop in a greater number of product categories, but they also spend more money and time mobile shopping than women and men from other age groups
The leading product categories in mobile commerce are music and games, followed closely by shoes and clothing, electronics, and reading materials</li></li></ul><li>
Questions<br />Do you think that mobile shopping will eventually replace computer-based online shopping? If so, why?<br />Other than the apps discussed today, what are your favorite shopping apps and why?<br />What other ideas do you think will develop in mobile shopping?<br />
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