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Released: June 17, 2011
Mobile shopping set to spike
Source: Joshua Brustein, NY Times (Free Registration)
The retail industry is itching to sell products on mobile phones; it’s just waiting for consumers to start buying. Already, 25 of the 30 top online retailers have iPhone apps, even though less than 15 percent of online consumers report having used their mobile phones to buy something. But Forrester Research predicts that a boom will come. Mobile commerce is expected to reach $31 billion by 2016, up from $3 billion in 2010, according to a forecast the firm published Friday. But even with such rapid growth, mobile shopping is expected to make up only about 7 percent of e-commerce by 2016. That amounts to about 1 percent of total retail sales.Read Full Article: Mobile shopping set to spike
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