Statistics and Reports from Business Insider Intelligence Reports indicate that Mobile commerce will significantly grow this year. The flooding of the device market is the primary reason for mobile commerce’s growth. Shoppers user their mobile devices to pay, redeem coupons and vouchers, research on products they want to buy.
The statement “29% of U.S. mobile users already have used their smartphones to make a purchase” is a clear indicator that consumers’ are adopting and moving into the mobile payments mode rapidly. Bank of America predicts $67.1 billion in revenue from smartphone and tablet retail purchasing by European and U.S. shoppers in 2015.
The primary challenge of connecting the ends of increasing consumer traffic and influential decision making is overcome with mobile commerce. Location based solutions, in-store mobile marketing help brands to reach their customers on the dot and influence on the decision they make on the purchase of a product. Mobile payments create a direct link between the consumers and the brands.
Thus, with mobile commerce it is possible to track the entire purchase cycle from the intention to buy to the actual point of sale purchase.