On Tuesday, Juniper issued a new report indicating that the number of consumers purchasing physical goods in the next two years will climb dramatically.
Specifically, Juniper projects that the rate of mobile shopping will climb 50% over the next 24 months.
That projected growth will take user numbers to 580 million by the end of 2014, up from 393 million this year.
So what’s behind the spike? This is the direct result, Juniper says, of greater consumer confidence in the mobile device as both a content browsing and payment mechanism.
It also reflects the increasing importance of mobile as an eRetail channel, with retailers witnessing a marked uplift in mobile as a proportion of online transactions.
Mobile Payments for Digital & Physical Goods: Opportunity Analysis 2012-2017 finds that both the average size and scale of purchases would continue to rise markedly.
According to report author Dr. Windsor Holden, “Consumers increasingly expect to be able to buy their products and services via their smartphones and tablets. Companies which do not offer this option face falling behind their competitors.”
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