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Table of Contents

Lead Story

Payments 2013: Abuzz with bitcoin, mobile and prepaid

Patti Murphy
ProScribes Inc.

News

Industry Update

Cyber Monday sets online sales record

New POS skimmer threat exposed

China restricts bitcoin – for now

Features

The Mobile Buzz

Views

Multichannel shopping, payments struggle

Patti Murphy
ProScribes Inc.

Focus on your customers, not the Next Big Thing

Brandes Elitch
CrossCheck Inc.

Education

Street SmartsSM:
Gatekeepers are people too

Dale S. Laszig
Castles Technology Co. Ltd

Make every day count

Jeff Fortney
Clearent LLC

Bitcoin: Keeping the change

Tom Waters
Bank Associates Merchant Services

Shine as your merchants' technology integrator

Sean Berg
Harbortouch

Company Profile

First American Payment Systems L.P.

New Products

Taking mobile to new heights

linked2pay adds GPS

Inspiration

Welcome to another year

Departments

Resource Guide

Datebook

A Bigger Thing

The Green Sheet Online Edition

December 23, 2013  •  Issue 13:12:02

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The Mobile Buzz

Mobile devices are proving to be the biggest disruptors of the retail economy. Retail sector analyst comScore Inc. released research that details how smartphones and tablet computers continue to reshape how consumers shop and pay.

In State of the U.S. Online Retail Economy in Q3 2013, comScore said the online payment ecosystem has become a multiplatform one, with consumers interacting via a combination of desktop computers and mobile devices. As of Sept. 2013, 54 percent of Internet users employed multiple devices, up from 48 percent in February 2013.

Meanwhile desktop shopping is falling, from 46 percent in February 2013 to 39 percent in September. Additionally, shoppers are spending more time shopping online via smartphones than desktops. In August, users clocked more minutes on cell phones than desktops (apparently for the first time) and increased that gap the following month.

The data also confirms the majority of mobile wallet apps are not catching on with the public. Most brands are seeing site traffic primarily via web browsers rather than proprietary apps. The exceptions are Amazon.com, eBay Inc. and Apple Inc., where 77, 65 and 99 percent of consumers, respectively, use their private label apps over browsers.

$10 billion in Q4?

The climb of mobile commerce (smartphones and tablets) over the last three years has been remarkably steady. In the fourth quarter of 2010, $1.6 billion was spent via mobile devices. In the corresponding quarters of 2011 and 2012, that number rose to $4.9 billion and $7.2 billion, respectively. If this growth trend holds true, then the fourth quarter 2013 mobile spend will break $10 billion.

While comScore said retail spending growth via mobile commerce is doubling the spending growth via desktop overall, desktop still accounts for the bulk of online commerce. Additionally, consumers utilize mobile commerce to make specific types of purchases.

For example, consumers prefer to shop with smartphones and tablets for video games and accessories at a 26 percent clip, followed by toys and hobbies (24 percent), and content and subscriptions (19 percent). On the other end of the spectrum, 10 percent of consumers buy apparel and accessories with smartphones and tablets, and only 7 percent use mobile devices to shop for computer hardware.

Notice to readers: These are archived articles. Contact names or information may be out of date. We regret any inconvenience.

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Spotlight Innovators:

North American Bancard | USAePay | Impact Paysystems | Electronic Merchant Systems | Board Studios