'Increasingly people will browse on one device such as a PC and then buy from another such as a smartphone,' Juniper senior analyst David Snow says.
According to Snow, while initial growth was fuelled by the smartphone explosion, there was, however, an increasing 'industry awareness of the need to enable an integrated shopping experience within the wider context of a fast expanding eCommerce market, thus enabling seamless access to retail sites across multiple devices.'
However, the Juniper report advises that vendors need to 'innovate unceasingly' as the market develops and becomes more competitive.
The report also reveals that:
'¢ The market will gain further momentum in the medium term following the increasing deployment of POS (point of sale) solutions to facilitate in-store cashless transactions
'¢ Retailers have observed a marked uplift in average transaction value when cash is replaced by a mobile payment method.
According to Snow, the report uses an 'innovative quadrant approach' to compare the positioning of some 17 mobile payments vendors, and provides detailed five year regional data for mobile payments for digital & physical goods, showing key parameters which include subscriber take-up, transaction sizes and volumes. It also revealed strategies used to enable consumers to pay by mobile through case studies from companies such as Brooks Brothers and Danal.
The Juniper Research whitepaper - 'The Goods, the Payment and the Mobile!' - and further details of the new mobile digital and physical goods study can be downloaded from our Juniper's website.