Mobile transactions to top USD730bn by 2017
VALUE ADDED SERVICESBy BiztechAfrica - 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
M-PESA launches online paymentsM-PESA aims to revolutionise e-commerce in Kenya with the launch of its online payment service. Read More
Airtel partners with DSTV MobileAirtel Kenya and DStv Mobile have entered into a partnership that will allow Airtel subscribers to access DSTV mobile through their mobile phone network using Drifta mobile decoder for Android. Read More
Mobile smart wearable device shipments to approach 130m by 2018New findings from leading hi-tech analysts, Juniper Research, indicate that smart wearable device shipments including smart watches and glasses will approach 130 million by 2018, 10 times higher than estimated this year. Read More
EcoCash to offer lendingEcoCashSave account holders will soon be able to also borrow money just like ordinary bank account holders. Read More
Apps, data changing mobileMobile voice revenue is declining fast, while data use is surging, driven by instant messaging and apps, say new reports on the state of mobility in South Africa. Read More
Airtel, Zanaco launch’Cultiv8’ accountAirtel Money and Zambia National Commercial Bank have partnered to launch a low cost account that is primarily accessed through Airtel Money. Read More
Airtel to launch Opera Web Pass in AfricaOpera Software and Airtel have announced the launch of Opera Web Pass for customers in 17 countries across Africa. Read More
Clickatell aims to be Nigeria’s largest PINless prepaid airtime providerClickatell says it aims to strengthen its position as a leading mobile enablement provider in Nigeria and be the largest PINless airtime provider by the end of the fiscal year. Read More
Why mobile money uptake is low in AfricaGlesecke and Devrient expert Wolfgang Decker says the absence of a global regulatory standard, trust and low awareness are among the challenges facing mobile money services in Africa. Read More
Kenyan agriculture platform supports smallholder farmersAn innovative social enterprise firm empowering smallholder farmers in the country has developed a mobile messaging application in a bid to stem the rising pressure on the few extension and field officers who link up with farmers in rural areas. Read More
FEATURED STORYGaming app introduces investors to trading
A new virtual stock market app is equipping would-be investors with the skills they need to trade.
BEST READ NEWS
IN DEPTHCorporate cyber security threats of the year
91% of organisations polled suffered a cyber-attack at least once in the past year, says Kaspersky Lab in its security review of 2013.