According to a new report - State of Mobile Commerce – for the first quarter this year by NASDAQ-listed performance marketing technology company Criteo, mobile devices are now responsible for more than one third of eCommerce globally.
“Mobile commerce is growing like a weed,” said Jonathan Wolf, chief product officer, Criteo.
“In just the last three months there was a 10% increase in mobile transactions in the US. Smartphones are now the majority of mobile transactions, and the growth of larger screen sizes and better mobile sites is only going to accelerate this trend.”
The findings in this report are based on Criteo’s analysis of individual transaction-level data from more than $160 billion of sales globally. Key takeaways include:
• US mobile transactions grew 10% in the last three months: Growth continues across all retail categories, with top quartile retailers continuing to outperform the rest
• It’s all about smartphones. The majority of mobile transactions in the U.S. and other major countries are now from smartphones, with the exception of Germany and the U.K. Increased comfort level with purchasing and larger screen sizes are credited for the increase
• There is no limit. Mobile is now the majority of all eCommerce transactions in Japan and South Korea. By the end of 2015, mobile share of eCommerce transactions will reach 33% in the US, and 40% globally
• The mobile conversion funnel has arrived. Consumers now view the same amount of products on both desktops and smartphones, but with lower add-to-basket and purchase rates on smartphones.
“The huge growth in mobile transactions over the past quarter shows that consumers are now very comfortable purchasing on smartphones across all categories,” said Wolf. “There really is no limit to this growth – mobile is now more than half of all eCommerce transactions in advanced markets like Japan and South Korea.”
To download Criteo’s complete Q1 2015 State Of Mobile Commerce report, click here