Mobile commerce is exploding and driving a growing share of total online sales. Purchases made from mobile devices are expected to ring up $87 billion in 2014, as e-commerce continues to grow.
Total e-commerce sales for 2014 are expected to total $294 billion in 2014, according to a new report by Forrester Research. A large and growing portion of those electronics sales are coming from mobile, to the tune of a projected $87 billion plus an additional $28 billion in additional mobile transactions from sites and apps such as Uber and Domino's Pizza that weren't included in the study.
By 2018, total online sales could reach $414 billion, according to the research company.
Share of dollars spent is clearly shifting. In Shop.org's recent State Of Retailing Online study, retailers reported that nearly 20 percent of their online sales were now coming from smartphones and tablets.
For all the hype, online sales are still a relatively small portion of overall retail spending. Forrester expects it to be just 9 percent of U.S. sales and just 11 percent by 2018, assuming a compounded annual growth rate of 9.5 percent.
It's hardly the retail apocalypse that has become part of the dominant discussion about shopping.
It is important to note, however, that mobile is the key driver of growth in the shift from physical to digital. Forrester points to the growing purchasing power of young shoppers, or digital natives, and estimates that there will be nearly 200 million unique smartphone subscribers and over 100 million tablet owners in the United States by the end of this year. Discounts, deals and the growing number of Web offers are all helping to make online shopping more attractive, even as mobile devices make those offers easier to access from pretty much everywhere.
-See this Forrester blog post on Forbes
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