The total value of physical and digital goods purchased via a mobile device is on pace to exceed $730 billion a year globally by 2017, representing about 30 percent of annual online retail activity, according to a new Juniper Research forecast.
The report points out a correlation between transaction growth and the increase of non-digital purchases. Companies such as the general good retailer Argos in the UK are already seeing six to seven percent of all sales occurring via mobile channel.
Barclays Corporate estimates that British consumers will spend $30.5 billion by 2021 on purchases using their mobile phones. Food and groceries appear to be the biggest category with mobile sales reaching 300 million pounds this last year. Since over half of British shoppers already use their mobile phones at some stage of purchasing, Barclays predicts that mobile commerce will grow by 55 percent over the next five years.
Click here for the full story.
