Survey Forecasts Increased Consumer Focus on Mobile Commerce and Wearable Technology in 2015
Three themes have pervaded trends in mobile technology in the past few months: increases in the number of mobile users, a rise in the percentage of these users shopping on their devices, and growing focus on wearable technology. In fact, a future where a hefty portion of our mobile devices are purchased from mobile devices isn’t far off—if not already here.
According to FatWallet.com’s annual Electronics Shopping Survey we can expect a 4 percent increase from last year in the total number of consumers expected to buy new electronic devices this year. More importantly, 36 percent of these consumers will spend $500 or more on these purchases, which is a 19 percent increase from 2014.
These projected increases beckon back to the basics of supply and demand. In this case, we’re seeing more people willing to spend more money on electronics. In conjunction with an increased focus on mobile technology and wearable devices, it only makes sense that the electronic marketplace is showing increasing numbers via mobile commerce.
The survey supports this notion, reflecting predictions of a 22 percent jump in the number of consumers buying electronics from their mobile devices. These projections come in chorus with a 50 percent forecasted increase in the number of American adults expected to buy new smartphones, 42 percent of who cite upgrading their devices as the main reason for the purchase. This seems to suggest that as the fleet for mobile-device innovation pushes forward, consumers will continue to employ their new capabilities, including mobile commerce.
And then there’s the application of entirely new devices in the form of wearable technology. The survey predicts that one in 10 electronic consumers will purchase new wearables in 2015, which is a 50 percent increase from last year’s numbers. This isn’t terribly surprising, as we’ve seen companies continue full-steam ahead in finding new uses for wearable technology this year; and on top of that, it’s only March.
Among the ranks of Millennials—arguably the most prolific users of mobile technology—16 percent will purchase new wearable devices. It’s possible that the projected release of the Apple (News - Alert) Watch had some sway on these numbers, and with the less-than-stellar feedback it’s received so far, it should be interesting to see if all of these Millennials make good on their promises.
Based on the results of FatWallet.com’s survey, and as far as all other pundits can say, mobile commerce is slated to come out ahead in 2015, which is more good news for mobile device manufacturers and application developers.
Wearble technology on the other hand, although forecasted for a big jump in sales, continues to loiter on the outskirts of the technology industry’s launch pad. Still, a 50 percent increase isn’t bad at all. Not to mention, innovation doesn’t exactly have a formula, and in many cases, the earliest entities of a new technology are the sacrificial lambs—the foot soldiers on the front lines—so to speak.
It is early in the fight, but Wearable Technology can still win its war.
Edited by Maurice Nagle
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