The mobile commerce market is worth $2.5 billion today, and will grow four times in the next couple of years, according to a panelist at the eTail 2010 Social media & Mobile Commerce Summit.
Retailers should focus on developing mobile commerce services to reach the growing number of smartphone users, because the market for mobile sales will increase dramatically in the next few years, according to panelists.
“There’s been a lot of hype and buzz and hyperbole, overall,” said Colin Sebastian, senior vice president of equity research, Internet and interactive entertainment at Lazard Capital Markets, New York. “2009 and 2010 put mobile on the map, and in 2011 and 2012 we’ll start to see more meaningful revenues.
“The market is worth 2.5 billion dollars in mobile commerce transactions,” he said. “That number should double over each of the next couple of years. Apple and iPhone were inflection points, and the iPad as well.
“I would also focus on Android, since adoption is increasing significantly. By the end of next year, there will be 100 million iPhones worldwide, and 100 million Android devices.”
Panelists at the eTail 2010 conferenceThe “Mobile commerce trends and best practices revealed,” panel was moderated by Marci Troutman, founder/CEO of Siteminis, Atlanta, and structured as a question and answer session.
The major themes covered were the growth of mobile commerce, strategies and tactics for newcomers to the medium and best practices.
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