Mobile shopping is bringing about a change in the retail industry across the globe. The latest developments and trends in m-commerce have been covered in a new report by yStats.com, a secondary research organization based in Hamburg. According to the CEO of yStats.com, Yücel Yelken, the retail industry is undergoing a change through mobile shopping, as items bought on mobiles are growing and mobile traffic is increasing significantly for retail sites. The report is named “Global M-Commerce 2014: Smartphones and Tablets“.
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Smartphones vs. Tablets
As per the report, the shopping behavior of consumers and their preferences vary with the use of smartphones and tablets, while shopping on mobiles.
In case of smartphones, their use is comparatively greater than tablets for the global population. The popularity of mobile retail applications is more, when it comes to smartphones, whereas for tablets, people prefer mobile browsing over applications. If consumers want to make larger purchases on mobile devices, tablets are the perfect device. But, if the intention is to make a quick purchase while on the go, smartphones are the best option.
Mobile Apps vs. Browsers
The report showed that in terms of frequency of use, in 2013, neither mobile apps nor browser had a distinct lead over the other. This shows that both of these mediums are important for mobile shopping, even though they are used in different ways. Shoppers find mobile browsers more convenient to use than apps. But, when it comes to speed, mobile shoppers prefer apps over browsers for making their purchase. Another thing which goes in favor of apps is the varied customer segment. For both the platforms, the largest share of m-commerce is comprised of bill payments, sale of tickets and digital goods. However, the sales of clothing are also growing at a rapid rate. Messaging apps, whose use has started in Asia, are also growing all across the world.
Regions Leading in M-commerce Globally
The US market generates a large sum from mobile retail sales and the most advanced region here is North America, in terms of m-commerce. The share of m-commerce also changes with seasonal variation and events like Cyber Monday and Black Friday.
In case of Latin America, Mexico has the highest number of people who are engaged in mobile shopping. Even the maximum use of smartphones for mobile shopping is also seen in this region. Next in rank is Brazil.
Germany is the leader in terms of mobile penetration for shopping purpose in Central Europe. UK is leading in Western Europe, whereas for Eastern Europe, Russia is in the leading position.
Newest trends of worldwide mobile commerce are being set by South Korea in Asia-Pacific region. Japan and China are also in a leading position in terms of m-commerce engagement.
In Africa and the Middle East, the mobile shopping trend is also setting in, where consumers from South Africa and the UAE are adding to the share of mobile commerce.
This gives a clear idea how retail industry is transforming significantly due to mobile shopping.
Image Source – thenextweb.com