SAN FRANCISCO -- (BUSINESS WIRE) -- 2013 marked an important mobile payment's “first,” with tablet payments comprising almost half of all mobile commerce. Today, Javelin Strategy & Research released Mobile Payments Market: Tablet Payments Surge as Overall Mobile Retail Sales Top $60 Billion which provides an in-depth study of the mobile shopping market, including market sizing of online, app and proximity payments by device type and a five-year forecast of mobile proximity payments and strategies for merchants, vendors, and mobile payment and wallet platforms to expand in this market.
In 2013, tablets accounted for a massive $28.7 billion in mobile online commerce, or over 50% of the entire mobile online payments space. That is quintuple 2012’s $5.1 billion. The portion of commerce generated through tablets is fueled by rising device ownership, as mobile consumers ownership of the device doubled since 2012. As tablet ownership rates continue to grow, the devices are expected to serve as an increasingly dominant purchase channel. Creating tablet-optimized shopping experiences through the app and browser should be a top priority for merchants and other parties looking to capitalize on the growth of mobile online payments.
“Mobile consumer purchasing habits are evolving from purely app- or browser-based purchasing toward both methods in tandem,” said Mary Monahan, executive vice president and research director of mobile at Javelin Strategy & Research. “While functionality should differ between the two methods, it is also critical for vendors to ensure that the user experience is similar for both methods so that crossover is frictionless. Similar visual elements and layouts should be used to simplify the process and build a recognizable brand experience.”
Javelin Strategy & Research’s Mobile Payments Market: Tablet Payments Surge as Overall Mobile Retail Sales Top $60 Billion provides an in-depth study of the mobile purchasing market, including dollar and consumer market sizing of online, app and proximity payments, a five-year forecast of mobile proximity payments, tablet vs. phone dollar market sizing, and frequency and size of median purchases, as well as commerce by device type. The report also includes strategies for merchants, vendors, and mobile payment and wallet platforms to expand in this market. It is based on three online surveys totaling more than 10,000 consumers.
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About Javelin Strategy & Research
Javelin Strategy & Research, a Greenwich Associates LLC company, provides strategic insights into customer transactions, increasing sustainable profits for financial institutions, government, payments companies, merchants and other technology providers. Javelin’s independent insights result from a uniquely rigorous three-dimensional research process that assesses customers, providers, and the transactions ecosystem.