Total m-commerce spending is poised to exceed $25 billion this year following a 24% surge in second quarter smartphone and tablet enabled sales that pushed estimated spending to $4.7 billion, according to digital measurement provider comScore.
The firm said m-commerce spending in the first half of the year totaled $10.6 billion, representing 10% of total digital commerce during that time. With the expected seasonal surge coming in the fourth quarter, m-commerce spending could surpass $25 billion for the full year, according to comScore’s estimates.
“While mobile devices are already extremely influential in the overall buying process, they are also beginning to drive a meaningful percentage of digital commerce,” said comScore chairman Gian Fulgoni. “One out of every ten consumer e-commerce dollars is now spent using either a smartphone or a tablet, and growth in this segment of the market is outpacing that of traditional e-commerce by a factor of 2x, which itself is growing at rates in the mid-teens. Any channel shift has the potential to be disruptive to established revenue streams, and it would appear that m-commerce spending has reached enough of a critical mass that key stakeholders must begin to address this new market dynamic today or risk losing competitive advantage.”
According to the firm’s data, the product categories with the highest m-commerce penetration rates were apparel and accessories (9.7%), consumer electronics (5.5%) computer hardware (5.4%), consumer packaged goods (4.3%).
ComScore’s data indicates smartphones drove a considerably higher share (6%) of total digital commerce than tablets (3.5%. While smartphone users outnumber tablet users by a factor greater than 2x, the average spending per device owner is actually 20% higher on tablets. This is likely a function of the platform’s higher income demographics and its greater similarity to the desktop experience due to its larger screen size, according to comScore.