Mobile transactions to top USD730bn by 2017
VALUE ADDED SERVICES| Aug. 12, 2012, 11:02 a.m.
The value of remote transactions for digital and physical goods purchased via mobile devices is expected to exceed USD730bn annually by 2017, a new report from Juniper Research has found.
According to the report, transaction growth will be driven by the increasing scale of real-world (non-digital) purchases from major brands and retailers, with companies such as Domino’s in the US and Argos in the UK already seeing 6-7% of all sales occurring via the mobile. channel.
The report – Mobile Payments for Digital & Physical Goods: Opportunity Analysis 2012-2017 – also noted that as consumer tablet adoption continues to rise, there will be significant migration of purchasing activity from laptops and desktops to tablet devices, with consumers increasingly engaging in online shopping while watching TV.
Indeed, it found the development of this “couch commerce” trend would result in mobile and nomadic devices accounting for 30% of eRetail within five years. However, it also observed that such transactions would continue to comprise a small minority of a global retail sales marketplace currently worth more than USD16trillion.
As report author Dr Windsor Holden pointed out: “We have already moved towards a multitasking, multimedia environment which offers brands the opportunity for far greater engagement with consumers than was previously the case. Mobile is increasingly being deployed at all touchpoints in the retail process – product discovery, product purchase, customer retention.”
In this regard, the report also noted the growing importance of the mobile device as a “hub”, marrying remote and physical purchases. It cited the example of the eBay Fashion App and Image Swatch, where consumers take or upload a photograph of an item to search for a product online. eBay is planning to enhance this application by enabling users to compare prices and item availability both online and via partner bricks-and-mortar stores: the end user can then pay for the item via PayPal before picking up the product from the local store.
MORE VALUE ADDED SERVICES NEWS
Glo Xchange agents roll out operations on mobile moneyGlobacom has announced its readiness to roll out the first set of market-ready agents for its mobile money service, Glo Xchange. Read More
BotswanaPost releases app for electricity purchasingBotswanaPost has officially released a smartphone app allows users to users to purchase prepaid electricity using mobile phones. Read More
GeoPoll, Kantar Media Unveil Kantar-GeoPoll Media Measurement in AfricaGeoPoll’s mobile platform and media measurement service is to be combined with Kantar Media’s experience in audience measurement methodology. Read More
Study: online gambling goes mainstreamNew data from Juniper Research has found that more than 1 in 10 adults worldwide will engage in some form of mobile or online gambling by 2019. Read More
Is Kenya ready for social commerce?With 99% of Kenyans accessing the internet through smartphones, many factors still hamper the growth of social commerce, says Jumia’s Communications Manager. Read More
MTN Ghana holds 2nd Mobile Money forum in AccraMTN Ghana held its second Mobile Money Stakeholders’ Forum in Accra this week, under the theme maximizing the potential of mobile money to drive financial inclusion in Ghana. Read More
Now parents can use mobile to pay kids for doing their choresZAZOO has partnered with Funifi to add a secure mobile payment mechanism to an app that encourages kids to do their chores. Read More
Airtel unveils new digital content productsAirtel has announced the launch of two new innovative digital products in a move aimed at providing great local multimedia content online for consumers as well as in support of people doing great work in the arts, culture and technology. Read More
Airtel Premier services now at Kotoka International AirportAirtel Premier Customers can now enjoy complementary services at the Adinkra Lounge, Kotoka International Airport, as well as accessing over 700 premium lounges across the globe. Read More
Safaricom, Google launch traffic information solutionSafaricom has partnered with Google to launch a mobile application that offers motorists access accurate and real-time traffic information, based on crowd-sourced data from other road users. Read More
FEATURED STORYYoung innovators shine during pitch sessions
Botswana saw an array of upcoming tech wizards selling their ideas during the Vendors’ Day pitch sessions this week.
BEST READ NEWS
IN DEPTHHigh tech homes: Just press play
High tech, digital homes where everything is automated and connected aren’t the stuff of science fiction any longer, says BNC Technology.