Mobile commerce has taken off as a new, more convenient way to shop, and smartphone retail revenues have doubled in the last year.
According to mobile commerce platform Branding Brand’s latest Mobile Commerce Index released this week, smartphone revenue increased 97.6% year-over-year to $18.2 million from July 2013 to July 2014.
The monthly issued Commerce Index reports smartphone-generated traffic, orders and revenue.
Consumers used smartphones to visit retail sites 25 percent more in the year ended July 2014 with visits totaling 21.5 million, up from 17.2 million for the year ended July 2013. Actual orders made from smartphones totaled 204, 916, up from the prior period’s 118, 449, a 73 percent jump.
Branding Brand co-founder and CEO Chris Mason, said, “Our real time data shows decisively that smartphone activity in retail is surging, with the highest percentage of growth consistently in revenue.” He added, “We expect to see the maximum impact of this record-breaking, year-over-year trend hit during the 2014 holiday season as consumers flock to fully-optimized mobile websites offering exclusive seasonal sales, customized vibrant imagery, and a no-stress shopping experience.”
Smartphones accounted for 34.9% of total online visits while desktop market share dipped 13.7% in the same period.
The Commerce Index report looked at global mobile commerce use and trends across a sample of 26 companies including apparel, health, beauty and home goods retailers. Branding Brand manages m-commerce sites and apps for leading retailers like American Eagle Outfitters, Sephora and Crate & Barrel.