With the rapid increase in the number of smartphone across the globe, mobile commerce or m-commerce is gaining acceptance amongst both users and retailers.  The UK-based Coda Research Consultancy estimates that there will be 194 million smartphone subscribers by 2015, nearly 3-times as much as the current 78 million.  They also predict that the number of mobile phone users on 3G networks will grow two-fold to 239 million by 2015, or around 80% of all mobile customers.  According to their forecasts, m-commerce will increase at a rate of 65% annually to reach $24 billion in 2015, or 7.7% of all e-commerce revenue. 

M-commerce revenue per mobile subscriber will grow almost 10-times, growing from $8.60 this year to $80 in 5 years.  Among the categories driving sales on mobile devices are video and music downloads, “apps”, games and virtual worlds, physical goods (from companies like eBay and Amazon), and mobile coupons.   eBay alone is aiming for $1.5 billion in mobile sales by 2015.

As m-commerce grows in popularity, a number of retailers are experimenting with unique ways of using it; with Amazon, Best Buy, Polo Ralph Lauren, Target, eBay, Domino’s Pizza, Pizza Hut, Papa John’s, Dairy Queen and 1800Flowers.com being some of the most notable pioneers.  By sharing their best practices, they are helping other retailers to enter the market while making it easier and safer for consumers to shop using their mobile devices.

With mobile devices rapidly becoming more ubiquitous than laptops, m-commerce presents an entirely new opportunity for the retail industry.  The business community is increasingly realising that consumers are looking for a seamless shopping experience, and expect to find the same products at the same prices, no matter whether they are at work, at home or on the move.

(With thanks to IMGR comments June 2010)