Tag: mobile commerce growth

Mobile commerce becomes a major focus of Asian retailers

Mobile commerce is gaining steam in the Asian Pacific market. The proliferation of smart phones, tablets, and wireless Internet is allowing consumers to move away from their PCs and traditional stores to participate in a new trend that has been emerging in industries all over the world. Euromonitor International, a leading market research and analysis firm, suggests that the growing adoption of mobile technology in the Asia-Pacific region is spurring retailers to delve more seriously into the field of mobile commerce.

Retailers adopting mobile commerce more quickly than those in the West

Retailers in the Asia-Pacific market have been provoked to aggressive action on the matter and have been adopting mobile commerce much more rapidly than those in other markets. Many of these retailers have begun developing mobile applications that allow consumers to shop more effectively from their smart phones and tablets. Euromonitor International expects that the aggressive adoption of mobile commerce among Asian retailers will only continue to pick up momentum in the coming months.

PayPal Singapore anticipates major growth in coming years

This analysis corresponds with that coming from PayPal Asia-Pacific, which suggests that consumers are becoming more apt to use their mobile devices to pay for products. Moreover, these consumers are more likely to spend large sums of money than those that do not participate in mobile commerce. According to PayPal, mobile payments in Singapore came in at $34 million in 2010 and more than $259 million in 2011. PayPal anticipates mobile commerce in Singapore alone will reach $2.4 billion by the end of 2015.

Groupon model proves popular with retailers

Mobile commerce has opened new possibilities for consumers throughout Asia. One of the business models that has become very popular with retailers embracing mobile commerce is allowing consumers to purchase products online and claim their purchase in person or have it otherwise mailed to them. This model was pioneered by Groupon Singapore, which is now being adopted by numerous retailers throughout the market due to its convenience.

A recent report showed that the French marketplace spiked to reach €1 billion last year.

According to Fevad, a French e-commerce association, the m-commerce market in the country increased to approximately €1 billion last year, which marks an increase of around 150 percent.

This was a considerable rise in the marketplace and was in line with growth seen in other European countries.

In 2011, the m-commerce market had been worth an estimated €400 million. In 2012, however, it increased to the point that it made up almost 2 percent of all sales that were made online. The data in the report did not include pay apps that were used on websites that were taking part in the Fevad’s iCM mobile commerce index.

Those m-commerce figures in the report were exclusively sales made on optimized websites and apps.

During the fourth quarter of last year, the sales in the m-commerce environment were a whopping 2.6 times higher than there were during the same period of time in 2011. Online sales overall in the French market space blasted upward to €45 billion in 2012. That represented a tremendous growth of 19 percent when compared to the year before. It was also an 8 percent cut of the nation’s total retail market sales.

In terms of online payments last year, there was a rise of 28 percent that was recorded in the report for the entire year, and the fourth quarter represented precisely that percentage. This demonstrated a steady growth in that sector of m-commerce, which is very promising for the marketplace, as it means that this is a steady increase and not one that will be seasonal around holiday shopping time.

The average size of m-commerce transactions increased by 24 percent throughout 2012, but it fell by 1 percent to reach €85 within the last quarter of the year. At the same time, during the first eleven months of the year, the number of online shoppers fell by 5 percent. However, while shoppers dwindled slightly, the number of shopping websites in the country grew by 17 percent during that same time, to reach 117,500.