Online banking has changed the way we transact forever and the convenience and simplicity with which transactions are now conducted on a daily basis is undeniable. Now, the e-commerce industry is experiencing a similar increase in activity and transforming the way we shop, pay for services and enjoy entertainment in a simpler, faster and more accessible manner. E-commerce services allow us to shop for products and services online, whilst saving us precious time and offering added convenience.
It’s estimated that in the last year e-commerce transactions rose by 20.4% globally and this figure looks set to increase on an annual basis as the use of mobile devices for e-commerce transactions grows incrementally. Sites that allow for transactions are also attracting a greater audience and for many, the added convenience of an e-commerce option encourages them to shop online rather than physically visit a store.
We have seen a vast increase recently in the number of e-commerce services available and many payment providers are opting to offer their facilities on reputable sites to allow for mobile transactions to be conducted on the move. As the mobile and tablet market grows more and more e-commerce sites are allowing for mobile transactions and shopping and gaming on the go is becoming increasingly popular with users of all ages.
The availability of e-commerce services that are compatible with smart phone and tablet operating systems has grown extensively and both end users and businesses have realised the potential in the mobile e-commerce market. We can expect to see an increase in mobile-compatible e-commerce sites over the next year as more businesses harness the power of portable devices and offer their products via a platform that is used extensively on a day to day basis.
In 2013, 15% of e-commerce sales were conducted via mobile and in the coming year this figure is set to increase as mobile usage grows and e-commerce businesses capitalise on the available technology and increased audience. E-commerce growth is not a short term prospect, it has an extensive long term future and businesses that do not adapt to this new way of purchasing goods and services may lose a large portion of their target market to those that can cater for the mobile e-commerce client base.