Report: Mobile e-commerce sales to hit $250 billion by 2020
Mobile e-commerce sales will account for nearly half of all online commerce in just a couple of years.
This was according to “A Mobile Mindset,” the second volume in the five-part series, “The 2017 UPS Pulse of the Online Shopper.” The report, from UPS, is based on input of over 5,189 comScore panelists who made at least two online purchases in a typical three-month period.
According to the study, mobile e-commerce sales are projected to grow to $250 billion by 2020. Meanwhile, mobile retail sales in the United States are expected to be 48.5% of retail e-commerce sales.
The report reinforces that customers are getting increasingly acclimated to using their smartphones as a shopping tool. In fact, 48% of smartphone users have already made a purchase on their personal device. While these transactions extend across customer segments, 66% of these purchases were conducted by Millennials.
Specifically, 17% of online transactions are already occurring on a smartphone, and 29% of millennials are making these purchases. When given the choice to use apps or mobile web, four in five smartphone users chose to shop using retail apps — a practice that is preferred by 92% of millennials, the study revealed.
“In terms of discretionary spending, mobile commerce (m-commerce) growth is far outpacing e-commerce and brick-and-mortar,” the study said.
“Over the past five years, shoppers have simply become more comfortable using their mobile devices to research and buy online, resulting in more time and money channeled via m-commerce,” the study continued. “The projections for continued growth in m-commerce make it essential that retailers of all sizes be properly positioned to provide an optimal experience via mobile devices.”
Mobile e-commerce sales to hit $250 billion by 2020
There is a huge trend of mobile commerce and the business is going to be bigger and bigger in upcoming years.
Amazon, Whole Foods Market deal a win-win?
Amazon's purchase of Whole Foods Market appears to be paying off for both parties.
The e-commerce giant has seen a spike in its online grocery sales since it acquired Whole Foods Market, according to a report by Bloomberg, which noted that the online giant immediately put about 2,000 items on its site from Whole Foods' 365 Everyday Value private brand, and sold out of almost all of the most-popular items.
Meanwhile, store traffic at Whole Foods increased 25% during the first two days after Amazon’s takeover, the report said.
Click here to read more.
No comments found
A Kmart closure has Illinois town mulling new opportunity
Many American communities see the closing of a long-successful department store as a tragedy. Town officials of Oak Lawn, Illinois, see it as an opportunity.
“It is a great location and I think its future…can be very, very bright and strong, and so does the owner of the property,” village manager Larry Deetjen said of the shopping center at 95th Street and Pulaski Road in an interview with the Chicago Tribune.
Sears Holdings announced last month that the Kmart store anchoring the property would be closed, but Oak Lawn’s planning commission tagged the property as prime for redevelopment in 2014. Town planners are considering going vertical with a development combining residential and retail. They have shared a list of interested retailers with Kimco Realty, owner of the site.
Out-parcels such as Chuck E. Cheese’s and LongHorn Steakhouse are successful, say Oak Lawn officials, and they look forward to more of the same in redeveloped property.
Click here for more.
No comments found