If there is a smartphone or mobile device in your possession, there is a good chance that you have used it for some form of mobile commerce. Today's mobile devices carry a myriad of features, and gadgets can be used to Google a product to compare prices or to find the closest retailer that carries a particular item. The popularity of these actions are all a part of the mobile commerce boom.
The IT and business consulting firm Capgemini has released its most recent eRetail Sales Index and the data shows that mobile commerce is growing by leaps and bounds. According to the year-on-year numbers, from June 2012 through June of this year, sales through mobile devices increased 136 percent. This increase is consistent with monthly growth, as the number increased by 8 percent from May 2013.
There is also a growth in conversion rates, something every company is looking for. This is the rate at which visiting customers become paying customers. The conversion rate grew from 1.3 percent in June 2012 to a 2 percent a year later.
"The mCommerce Index remains strong as consumer confidence in purchasing goods and services via smartphones and tablets continue to grow," Chris Webster, Capgemini's head of retail consulting and technology, told the news source. "The findings provide further evidence of the value mobile technologies have brought to the retail sector as consumers continue to shop via this channel."
This increase shows that many companies are adopting mobile commerce payment options and are avoiding the problem of falling behind. With the help of a retail payment solution provider, any merchant can jump on this bandwagon and be ready for the future.