Business/E-Business
Commentary
12/20/2010
09:30 AM
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Mobile Commerce: A Multi-Billion Opportunity

Cell phones have become more than an executive productivity tool. They are now a primary way that individuals purchase goods and services, according to market research firm ABI Research.

Cell phones have become more than an executive productivity tool. They are now a primary way that individuals purchase goods and services, according to market research firm ABI Research.The company expects online purchases in the US to reach $3.4 billion in 2010, which is more than double 2009's $1.4 billion figure. Consumers are prone to purchase Computers/Electronics: 20%, Apparel: 13%, Books/Music/DVDs: 9%, Office Supplies: 7%, Housewares/Home Furnishings: 6%, and Entertainment Tickets: 3% online. The market research firm does not include Travel-related purchases, such as airline tickets and, hotels, and in 2010, US consumers are expected to spend another $1.5 billion on those items.

In fact, the use of mobile devices to purchase items has quickly become quite pervasive. In 2008, sales were only $396.3 million. One reason for the growing popularity is that mobile online shopping has been integrated into marketing campaigns and CRM programs.

Small and medium businesses need to make sure that they offer their customers an appropriate way to access their goods and services. Traditionally, it has been difficult for them to support mobile commerce applications, but they will need to add that capability since so many of their customers now prefer that option.

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