Did you know that the first device to be referred to as a smartphone was made by IBM? It was 1994 when the IBM Simon Personal Communicator was released. The device featured a touchscreen and also enabled users to send emails.
And it’s because of this continuous usage of smartphones, and increasing adoption of wireless devices which has given rise to mobile commerce (m-commerce). Which is no surprise given that a study by the PEW Internet Center found that 56% of American adults are now smartphone owners – an increase of 10% from May 2012 and 21% from February 2011.
M-commerce is similar to e-commerce, in the sense that products are bought and sold over the internet. However the main difference here is that the process of buying and selling is done through a handheld device, typically a smartphone, an ebook reader or a tablet.
Ever since Android and iOS were introduced, we’ve seen a plethora of mobile applications developed in order to extend the functionality of these devices. Add increased computing power into the mix, and you’ve got yourself a mobile revolution on your hands.
It’s no surprise that the rise of m-commerce has coincided with the development of mobile technology. Which has given us a capable computer that’s easily pocketable (except for those 5” Padphones).
And herein lies the main attraction for smartphones and tablets alike – these devices are with you all the time. Meaning folks can buy and sell products wherever they are. On a side note: If you are building an app and you need an easy way to monetize it and accept in-app payments check out our Mobile SDK for iOS and Android.
- By 2015, US Mobile commerce retail sales are expected to account for 24% of total e-commerce sales
- M-commerce retail sales are expected to be worth $86.86 Billion by 2016
- 74% of online retailers have already, or are currently developing a mobile strategy
Discover 27 other statistics by scrolling down and checking out this interesting infographic: