In 2013, retail revenue from smartphones increased by 113 per cent and almost four out of five (79 per cent) owners now use these devices to make purchases.
These are just some of the mobile commerce statistics highlighted in a new infographic from Isis and published ahead of the CONNECT 2014 Mobile Innovation Summit in Chicago.
Retail industry expert Doug Stephens has predicted there will be “more disruption in the next ten years of retail [than in] the previous one thousand” and the infographic highlights some of the ways in which this is already occurring.
The US-focused research found 62 per cent of Americans now possess a smartphone, while ownership among 18 to 29 year-olds is as high as 88 per cent.
As a result, there are numerous opportunities for retailers and service providers to take advantage of this fact and boost their operations.
With 94 per cent of smartphone owners using their devices to seek out information relating to the surrounding area, it is important to ensure you appear on local searches and have an online presence that is accessible on the go.
This becomes particularly apparent when you consider 84 per cent of those who conduct such searches go on to take action, either completing a purchase or contacting the business.
While mobile technology continues to advance at an incredible pace, it appears businesses are increasingly acknowledging the importance of keeping on top of this as much as possible.
More than half (53 per cent) of retailers polled said they have made mobile their top priority in 2014.
The option to make payments through mobile channels can also boost revenues, with users spending twice as much on average in this manner.
Indeed, the infographic shows 55 per cent of consumers want greater access to mobile payment routes and this is something that may be of significant benefit to restaurateurs – with 98 per cent of those who have paid a food bill via a mobile device stating they would do so again.