Forrester Report Reveals Mobile Commerce To Hit $31 Billion By 2016

Despite an exponential growth in the popularity of mobile and Smartphone devices, consumers are yet to embrace the concept of mobile shopping with arms wide open, a new report claims.

The report by the Cambridge, MA based market research company Forrester Research was the outcome of an in-depth study of the rising Smartphone and mobile devices market, and the prevalence of that growth when it comes to mobile shopping.

The report by Forrester claimed that as of now, only 2 percent of the total online shopping is done using mobile devices.

However, the firm also expressed its optimism regarding this poor-state-of-being of the mobile shopping trend by saying that the situation would eventually improve to some extent as both consumers and merchants are continuing with the adaption to new devices and technologies.

“Mobile commerce is expected to reach $31 billion by 2016. While this represents a compounded annual growth rate of 39% from 2011 to 2016, mobile commerce is only expected to be 7% of overall eCommerce sales by 2016,” the report read.

Also, in related news, it was found in a survey conducted by Shop.org for Forrester that 90 percent of online retailers have already come up with their own mobile strategies.