The global revenues generated from transactions

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Unformatted text preview: 0 will be the first meaningful year for m-commerce. The global revenues generated from transactions carried out on mobile handsets are set to grow by more than 43% by 2012. Ovum estimates that global revenues from m-commerce will reach $41 billion by 2014, up from just $7.7 billion in 2007, and the majority of this growth will be in 2011 and 2012. However, shopping on mobiles remains a very small percentage of global e-commerce, at less than 1% – with the notable exception of Japan. Although m-commerce revenues are small, mobile is beginning to play a very important part in the shopping experience. M-commerce will be an essential avenue through which to generate growth across all channels, by enhancing the shopping experience through allowing greater interaction between the consumer and retailer. Exploiting mobile technology will enable retailers to become more service-orientated, create more personalized relationships, and get better at meeting the needs of individual customers. S TRAIGHT TALK I T 17 RETAIL M-COMMERCE ADOPTION IN 2010 Japan Currently using but not replacing (%) First-time implementation (%) Germany System replacement (%) France No plans to use (%) India UK US 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Percentage of respondents Mobile has a pivotal role to play in the modern purchasing lifecycle The importance of mobile is not just its potential as a sales channel; mobile has a much greater role to play in the modern purchasing cycle. More advanced handsets such as smartphones are tools for researching products, locating stores, scanning barcodes in-store to find out more about the products, and comparing prices with other retailers, among other things. Consumers can not only respond to offers received, but also request specific information or enquire about particular brands or products, which can then often be shared with friends. This level of direct engagement with the consumer is invaluable and increasingly important in the multichannel environment. As a tool that can be used by a consumer to interact with a retailer through its mobile site or application, even from inside the bricks-and-mortar store, mobile has great potential for joining...
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