CAMBRIDGE, Mass. (10/13/15)--Mobile commerce transactions are expected to reach $142 billion in 2016 after eclipsing $115 billion this year, according to a new report from Forrester Research.
“U.S. Mobile Phone and Tablet Commerce Forecast, 2015 to 2020” outlines the ongoing challenge of converting “clicks to sales,” with nearly one-third of retailers’ Web traffic coming from phones but resulting in only 11% of sales.
However, a few merchants are leading the way in mobile commerce, with Forrester estimating that Amazon and eBay capture roughly one-third of all mobile shopping in the United States.
But the rate of mobile sales continues to be rapid, with Forrester projecting a compound annual growth rate of 17% across smartphones and tablets in the next five years.
While mobile currently accounts for 35% of overall ecommerce, its forecasted growth means mobile will account for 49% of ecommerce, or $252 billion in sales, by 2020, Forrester said.