A new report by Javelin Strategy and Research reveals that consumers spent more than $20.7 billion shopping using mobile devices, with around $5 billion of that spent using tablets, in the last year. Mobile shopping is continuing to grow at a rapid pace with the number of people owning tablet devices set to double in the next three years.
“With large-screen real estate and mobile capabilities, tablets are the ideal channel to transform PC-based online shoppers into mobile shoppers,” said Mary Monahan, Executive Vice President and Research Director, Mobile at Javelin. “Increasingly, mobile devices like tablets are being used as shopping tools but the mobile buying experience is not keeping pace with consumer activity.”
Javelin’s research revealed that on average consumers spend $10 more per purchase using a tablet compared to a mobile device. The Mobile Payments Hit $20 Billion in 2012 report is based on three online surveys of mobile phone owners and a survey of mobile device owners, and also includes case studies of mobile offerings from American Express and Amazon.
Whitepapers
Related reading
Central banks best suited to issue digital currencies
By Aaran Fronda A recent report by the Official Monetary and Financial Institutions Forum (OMFIF) said that central banks rather than private ... read more
Instant payments: innovations inbound for corporates
In 2020, instant payments look set to continue their current trajectory to become the biggest trend in payments. While these schemes already offer numerous benefits to corporates, leveraging innovations such as APIs and request to pay will go some way to unlocking their full potential, argues Michael Knetsch
Obstacles exist for banks to meet ECB’s instant payments goal
The cost of joining instant payment platforms will be one of many hurdles banks and payment services providers must overcome to meet ... read more
Banks must be aware of “biases” in data used to train ML models
Financial institutions need to be conscious of biases in the historical data that is being used to train machine learning (ML) models, ... read more