According to new data released by mobile commerce technology provider Branding Brand, the number of mobile transactions made on smartphones doubled between June 2013 and June 2014, from 5 percent to 10 percent.
The numbers on conversions for retailers on mobile phones also increased, though much more slightly – 0.74 percent in June 2013 to 0.86 percent in June 2014. This still means that conversions on mobile phones dramatically trail both desktops and tablets, which clock-in at 3.06 percent and 2.18 percent respectively.
“Although smartphones might be the lowest-converting devices at the moment, they have the potential to be the highest over time, due to the unique ways in which people interact with them,” Chris Mason, CEO and co-founder of Branding Brand said, reports InternetRetailer. “The fact that smartphones are always with us makes them the natural channel of preference, if the convenience is there.”
Despite lagging behind tablet and desktops, according to the 26 retailers studied by Branding Brand, smart phones were worth about $15.6 million in revenue. The study also noted that sales by and on mobile may be expected to continue to rise, as more sites integrate one-click authenticated purchases that allow users to buy without having to undergo the process of navigating between multiple screens. Merchants like Starbucks that have made it easy to pay in-store using a phone are also considered likely to boost future transactions on phones.
“What’s Hot” is aggregated content. PYMNTS.com claims no responsibility for the accuracy of the content published by the original source.
We’re always on the lookout for opportunities to partner with innovators and disruptors.
Learn More