Mobile commerce to grow 15% in 2014: InMobi report

InMobi, has released its 2014 Global Mobile Media Consumption Report, which provides insights into changing trends in mobile media consumption habits. The 2014 report findings reiterate that mobile devices becoming an important part of everyday life. It also shows growing trust and reliance on mobile devices is likely to have a significant impact on mobile commerce in 2014.

The report predicts a 15% increase in mobile commerce in 2014, with 83% of respondents planning to conduct mobile commerce in the next 12 months. Mobile has become a key factor affecting purchasing decisions, with 48% of respondents worldwide listing mobile as a key media which impacts purchasing decisions, and reliance on mobile is even higher in important consumer markets, like India, at 60%.

“In last year’s report we found that mobile had touched most aspects of modern life. But this year, we find that mobile has really become an essential part of daily life, even a daily workhorse, that has replaced the desktop and TV for everything from gathering key information, media consumption and accomplishing daily tasks, like shopping and paying bills,” said Naveen Tewari, CEO, InMobi. “Furthermore, with mobile content gaining similar prominence as TV, mobile advertising is now impacting consumer behavior across the entire purchasing lifecycle from small day-to-day purchases, to bigger purchases, like cars.”

While mobile already overtook TV last year in overall media consumption, this year more users are going mobile-only for their online access, shunning desktops, and engaging in multi-screening behavior if they do watch TV.

Key 2014 mobile media consumption statistics:

• The average mobile web user consumes 6.0 hours of media per day.
• 60% of the average global mobile web users now use mobile as either their primary or exclusive means of going online.
• Multi-screen behavior is common, 61% of mobile web users engage in mobile activities (e.g., social networking, text messaging) while watching TV.
• Mobile is an important companion particularly for in-between times, 83% of respondents use mobile while waiting for something, and 81% while lying in bed.
• 40% of Indonesians use mobile as their only means of web time, followed closely by 34% in India and South Africa.

According to the report, mobile commerce is rising, an increase of 15% expected this year. With smartphone penetration on the rise, more consumers than ever before are using their mobile devices to research product information and pick a retailer that best meets their needs during the buying process.