Mobile spending is projected to grow from $9.7 billion in 2015 to $53.6 billion by 2024.
That’s according to recent research published by Barclays. Their press release puts the importance of this huge increase into context:
“This means that nearly half (42.4%) of all retail sales will involve a mobile device in some way or another, making mobile the fastest growing retail segment.
“If you were to equate mobile sales in terms of store numbers, in five years’ time it would require a chain of around 30,000 stores, nearly three times the size of Walmart, the world’s largest retailer, which has 11,000 outlets worldwide. Within the next decade, the number of stores required will rise to nearer 48,000.”
Although the above results from the Barclays report include the extent to which mobile devices influence shopper habits—including activities such as price comparison and shopping via mobile web/app—the insights are still potentially transformative.
As you can see below, 33% of mobile sales occur via app today. We expect this share to increase. But even if it doesn’t, a full third of your potential business is still at stake.
We think this means there’s an exciting opportunity for mobile-savvy retailers. That’s why we created Retail Mobile Apps: There’s a guide for that. It’s a brand-new guide, just released today.
To make the guide, we downloaded 50+ shopping apps, tested them out, and pulled out our favorite examples. The guide showcases how ModCloth, Build-A-Bear, Walgreens, and other brands create engaging mobile shopping experiences. Claim your free copy of the guide now.
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