Mobile retail market to exceed $12bn by 2014
The mobile retail market is expected to exceed $12 billion by 2014, driven by increasing smartphone use.
Juniper Research said that the mobile retail sector would initially be dominated by coupons. However, it added that mobile advertising spending “would exceed coupon redemption values by 2013 as digital adspend is increasingly transferred into the mobile space”.
Report co-author Howard Wilcox said: “Retailers have recognised that, even ahead of their wallets, people will usually make sure they do not leave home without their mobile device.
“The mobile channel offers merchants the opportunity to differentiate from their competition and acquire customers that become loyal.”
Juniper said that dditional factors such as the growth of the mobile web, the availability of high speed mobile broadband networks, and the ever-growing usage of SMS were offering retailers, brands and merchants new opportunities to communicate with customers.
A recent report from Deloitte found that around one in five UK consumers now owns a smartphone, while the European Interactive Advertising Association revealed that Europeans are spending more time on the mobile internet than reading newspapers or magazines.