Mobile commerce transactions are predicted to surpass e-commerce transactions this year worldwide, according to a Button report.
Mobile engagement will drive the marketplace through 2019, according to a Button report released on Monday. The report analyzed millions of transactions in the Button Marketplace during the 2018 holiday season to determine what mediums consumers are using to make purchases.
The report found a huge rise in the mobile economy—an increase so significant that mobile commerce transactions are expected to overwhelm e-commerce transactions by the end of this year.
Consumers are now shopping more on mobile applications than on the web, and are even willing to download new apps to make purchases, the report found. Over the 2018 holiday season, shoppers made 108% more purchases through apps than on the mobile web. This means marketers must focus their attention to apps, since more customers are likely to start and continue purchasing from them, the report added.
"When consumers find what they want, brands and retailers can connect with new customers, and publishers can benefit from providing the traffic," Michael Jaconi, co-founder and CEO of Button, said in a press release. "Increasingly, brand spending is shifting to performance spending, empowering brands to acquire and engage customers and drive their business growth with mobile."
Marketers can attract new customers to mobile transactions by providing offers and incentives, the report said. For example, marketers may want to provide deals on Thanksgiving day or designated days prior to Christmas, so early shoppers can benefit, the report added.
Check out this TechRepublic article to learn more about some of the most popular mobile payment applications.
The big takeaways for tech leaders:
- Mobile application commerce will surpass e-commerce by the end of 2019. — Button, 2019
- During the 2018 holiday season, mobile app purchases increased by 108%. — Button, 2019
- 5G smartphones: A cheat sheet (TechRepublic)
- IT pro's guide to the evolution and impact of 5G technology (TechRepublic download)
- The 10 best smartphones of 2018 (ZDNet)
- Best mobile VPN services for 2018 (CNET)
- The 10 most important iPhone apps of all time (Download.com)
- Smartphones and mobile tech: More must-read coverage (TechRepublic on Flipboard)