Merchants: Get a Mobile Strategy. Now.

by Mercator Advisory Group 0

If you’re a merchant and you’re wondering if you should have a mobile strategy, here’s a quick collection of stats to encourage you to hurry up and get a plan. And here’s another key stat from Mercator’s CustomerMonitory Survey Service: 48% of smartphone owners are willing to have 3 or more retailer apps on their handsets. That’s an opportunity to engage with customers right where they live, on their mobile phones that are always within easy reach.

BI research predicts that mobile commerce will grow to $119 billion by 2015 in the United States. This market is growing solidly in Europe and is expected to outpace the U.S. by the end of 2010.

Payments are going mobile, too.

PayPal recently announced that it has seen a six-fold growth in mobile transactions from $25 million in 2008 to $141 million in 2009 and it is comfortably predicting that it will end 2010 with more than $500 million in mobile payment volume, and 5 million-plus members regularly using PayPal from mobile devices.

Analyst firm Juniper Research is also indicating that mobile transactions are taking hold, predicting that the total value of mobile payments around the world will quadruple from $170 billion in 2010 to $630 billion in 2014. I will just repeat that: $170 billion in 2010 to $630 billion in 2014.

Read full article here:

http://www.mobilecommercedaily.com/why-a-mobile-strategy-for-retailers-matters-more-than-ever/