By John Cosley
According to comScore, smartphone penetration has reached 72% of mobile market penetration.
Mobile devices have become an inseparable part of our everyday shopping lives — whether looking at reviews, checking a price or better understanding product features.
Like a snowball rolling down a hill, mobile commerce (m-commerce) will only gain momentum, both through device adoption and the services that retailers and technology makers put behind m-commerce.
At Bing Ads, we see the evolution to m-commerce balancing on four key elements:
- Control. Mobile gives users more control over what they buy, the price they pay and where they buy it.
- Convenience. Consumers use smartphones to conduct shopping-related activities in the comfort of their homes, at work and everywhere in between.
- Conversion. 70% of Bing mobile users convert within five hours of their mobile search. PC users take weeks to convert. (Based on Bing internal data. Conversions include calls, store visits and purchases across screens.)
- Commerce. eMarketer projects that mobile will make up 19% of retail e-commerce sales in 2014 — and it is expected to grow as we see more innovations and maturity around mobile payments.
Let’s dive into each of these a little deeper to understand how it’s driving the new mobile shopper.
According to Nielsen’s Digital Consumer study, more than 4 in 5 smartphone and tablet owners are using a mobile device for shopping activities. Twenty-six percent of smartphone users plus thirty-five percent of tablet users do more shopping because of mobile devices.
Across the Yahoo-Bing Network, we’ve seen similar trends in mobile user engagement. For example, for clothing and shoes (a sub vertical within retail), impressions and clicks on smartphones are growing at a faster pace than on other devices.