WILL M-COMMERCE OVERTAKE E-COMMERCE?Rishank MananSahana Venkatesh
M-COMMERCE IS MORE ACCESSIBLE THANEVER 200 Milliseconds – The time required to complete payments 35 Million- The number of NFC enabled smartphones shipped in 2011 1.2 Billion – The number of NFC-enabled smartphones shipped in 2015 Until 2015, retailers are likely to continue using traditional payment methods such as barcode scanning, as it remains a cheaper, more viable solution.
M-COMMERCE IS MORE ACCESSIBLE THANEVER Mobile Wallets – nearly 1 in 2 Americans are interested in mobile wallets as forms of payment. User industry specialists predict that 50% of smartphone users will buy primarily via mobile wallets. QR Codes – About 1 in 5 smartphone users in America scanned a QR code in-store last year.
EVOLVING BEHAVIOR PATTERNSWorldwide, nearly 1 Of all USin 3 phones sold in mobile For For subscribers UK EU2011 was a have smartphonessmartphone Smartphone users spend more time on mobile apps than on mobile sites 3.6 % - The amount of online purchases made via smartphones / influenced by mobile research 1 out 5 people research products on mobile devices while watching TV
WHO SHOPS THE MOST ON MOBILE DEVICES-AND WHAT DO WE BUY Men prefer to make purchases on their phones Women prefer tablets for shopping Most mobile shoppers are younger 51% of people Just 18% of aged between those between 18-34 have 55-64 have shopped on their phones
0% 20% 30% 50% 60% 80% 10% 40% 70%Digital Content 76% Clothing 38% Activities 34% Electronics 33% Health/Beauty 31% WHAT WE PURCHASE MOST Groceries 27%Furniture/Home 23% Tickets 21%
WHAT WE SPEND ON M-COMMERCE PERMONTH $61+ 10% $41-$60 16% $21-$40 12% $1-$20 32% 0% 10% 20% 30% 40%• Mobile shoppers are more likely to make purchases on the weekends compared to desktop shoppers - 18% more• Mobile sales as a proportion of all web sales increase on weekends - 60% more
RETAILERS SHOULD UTILIZE MOBILESPENDINGMobile commerce in the US is expected to grow to $31 Billion by 2016 35 31 30 25 25 20 19 15 14 10 10 6 5 3 0 2010 2011 2012 2013 2014 2015 2016• Nearly half of the Retailers have optimized their sites for Mobile devices• But less than third have optimized it specifically for tablets
M-COMMERCE AND E-COMMERCE MAY EVENOVERTAKE BRICK-AND-MORTARS 53% of the mobile consumers engage in ‘Showrooming’ ( looking at products in-store and then buying it online) Top 3 Reasons – 38%found a superior price at another store 30% found a superior price online 21% found a superior item online
IN-STORE MOBILE TRENDS EXPECTED TOGROW Show an Employee something online Check for location deals Snap a photo to send to Lookup someone Reviews Look for another store nearby Barcode Scanning
BRACE YOURSELF! E-commerce is expected to generate $1 Trillion in revenue by 2014Worldwide, M-commerce is set tohit $119 Billion by 2015 Projected amount of Retail 54% purchases made online by 2014