Mobile Media is Driving Consumer Shopping Behavior

Mobile is quickly emerging as a major force driving consumer online shopping behavior. Recently a few illuminating studies have come out:

Mediapost: Mobile Shopping Growing Dramatically
Key Findings

33% of respondents have used their phone to access a retailer website, and an additional 26% indicated they plan to access retailer websites or mobile apps by phone in the future
11% of web shoppers reported having made a purchase from their phones this holiday season, compared to only 2% at this time last year
56% of shoppers who used their phones did so to compare price informationwhile 46% of shoppers used their phones to compare different products to look up product specifications
69% of mobile shoppers used their phones to visit the store’s own website while in physical stores, and 46% also used their phones to access a competitor’s website
Shoppers rate their satisfaction with retail websites significantly higher than their satisfaction with mobile apps and sites
Highly satisfied shoppers with a mobile experience say they are 30% more likely to buy from that retailer online and 30% more likely to buy offline

eMarketer: In-App Purchases Become Major Mobile Revenue Stream

Within the realm of apps that are directly monetized, whether by paying for the app itself, paying for items within the app, or both, in-app purchases are becoming much more important to developers. They more than doubled their share of iPad app revenues, from 12% to 29%, between June and December 2010. Over the same period in-app purchases on iPhone applications increased from 36% to 49% of revenues—now taking half the market from traditionally paid-for apps. And within that share, free apps have gained at the expense of paid.

Mashable:Why Mobile Shopping Could Be As Big As Online Shopping

In 2010, 30% of visitors of top retail sites used their phones to compare product details, look up prices, or find store locations. This is versus only 11% in 2009.

Compete: Smartphone Intelligence Survey Show Mobile Barcode Scanning Now Mainstream in Retail

Notably:

High prices of smartphones and data plans continue to be a barrier to smartphone adoption for cell phone owners. More than half of cell phone owners reported that they do not own a smartphone (a phone with advanced PC/email/Internet functionality) because the plans that are required with smartphones are too expensive.
Mobile banking usage is on the rise, with 40 percent of respondents using mobile banking apps at least once a month. However, most consumers are not yet making these apps part of their everyday routine; only 6 percent of consumers make a daily habit out of using mobile banking apps on their devices.
Although the top-five ‘must have features’ for smartphones across all consumers include basic features like long battery life, internet capability, personal email access, high-quality screen and camera/video camera, among those who spent over $100 on their most recent device, consumers are more likely to cite phone design, high speed data, touch screen and email access as top priority features.
High prices of smartphones and data plans continue to be a barrier to smartphone adoption for cell phone owners. More than half of cell phone owners reported that they do not own a smartphone (a phone with advanced PC/email/Internet functionality) because the plans that are required with smartphones are too expensive.Mobile banking usage is on the rise, with 40 percent of respondents using mobile banking apps at least once a month. However, most consumers are not yet making these apps part of their everyday routine; only 6 percent of consumers make a daily habit out of using mobile banking apps on their devices.Although the top-five ‘must have features’ for smartphones across all consumers include basic features like long battery life, internet capability, personal email access, high-quality screen and camera/video camera, among those who spent over $100 on their most recent device, consumers are more likely to cite phone design, high speed data, touch screen and email access as top priority features.