Mobile commerce is expected to grow in the upcoming years (2015-2016) with an average compound annual growth rate (CAGR) of 42 percent, according to a new study conducted by global market research company, Ipsos for PayPal.
Paypal’s Mobile Research for 2014/2015, which surveyed more than 17,500 consumers in 22 countries, found that in the last 12 months, 9 percent of online spending was done using smartphones and 5 percent with tablets. This is expected to increase over the next year to 14 percent on smartphones and 7 percent on tablets.
The study also revealed that 33 percent of total online shoppers use a smartphone to make purchases, however this percentage does vary by country. Sixty-eight percent of online shoppers in China used a smart phone to make a purchase during the last 12 months.
The majority of smart phone shoppers, 59 percent, are ages 18-34.
According to Ipsos, the top mobile shopping markets are China, Turkey and the United Arab Emirates.
The study found that 36 percent of consumers use their smartphones to search for product information, 27 percent to locate or help find information about a store or business and 25 percent to read customer reviews.
Some challenges of shopping mobile include, 39 percent prefer to shop online from a desktop or laptop, 34 percent say the screen size is too small and 28 percent prefer to access the Internet using other devices.