|[November 15, 2012]
Mobile Payments Reached $20B and Will Grow With Tablet Shopping
SAN FRANCISCO --(Business Wire)--
Mobile purchasing is revolutionizing all aspects of shopping, both
online and in store shopping. A new report by Javelin
Strategy & Research found consumers spent more than $20.7
billion shopping using mobile devices - especially tablets.
Approximately $5 billion of mobile purchases were made through tablets
last year. With holiday shopping just around the corner and other
driving forces, the number of people owning tablets is expected to more
than double within the next three years. This dramatic adoption will
lead to an explosion in retail purchasing using tablet devices. The
increase in purchasing further solidifies mobile as the channel to watch.
Javelin found striking differences between mobile phone purchases and
tablet purchases. Consumers spend an average of $10 more per purchase
using a tablet compared to the average purchase made through a mobile
device. Even within the tablet world, there are noticeable differences
between amount, type, and frequency of purchases made by Kindle Fire and
Apple (News - Alert) iPad owners.
"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 Apps engage consumers to make purchases. With the
upcoming holidays, retailers must prepare for the mobile shopping trend
or lose out on the opportunity to convert browsers into buyers."
Payments Hit $20 Billion in 2012 report explores how consumers use
mobile devices and channels (browsers, apps, and POS) to make mobile
purchases and recommends how merchants and vendors can adjust their
mobile commerce strategies, especially for the growing number of tablet
users. It is based on three online surveys of mobile phone owners and a
survey of mobile device owners.
Javelin includes case studies of mobile offerings from American Express (News - Alert)
Learn More: Mobile
Payments Hit $20 Billion in 2012: Tablets are Key to a Successful Retail
Related Javelin Research
About Javelin Strategy & Research: Javelin
Strategy & Research provides strategic insights into customer
transactions, increasing sustainable profits for financial institutions,
government, payments companies, merchants and other technology
providers. Javelin's independent insights result from a uniquely
rigorous three-dimensional research process that assesses customers,
providers, and the transactions ecosystem.
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