Javelin Forecasts Online and Mobile Shopping to Reach $516 Billion by 2019
JAVELIN Finds Mobile Shopping Will Drive Overall e-Commerce Shopping.
Alternative Payments Options, such as PayPal Credit, will Soar with Frictionless Checkout
San Francisco, CA, October 29, 2015: Mobile is rapidly displacing commerce made through laptops and desktops. Shopping through mobile devices is forecasted to grow to a 42% share of online commerce by 2019, reaching $218 billion in sales. The holiday shopping season will see fueled mobile shopping. It will also open the door to alternative payment providers who will be ready with a frictionless checkout experience. Today, JAVELIN released, Online Retail Payments Forecast, which provides an in-depth analysis of e-commerce trends, forecasts of online purchasing volumes and preferred payment methods through 2019.
With e-commerce growing, it is attracting online alternative payments providers, such as PayPal Credit, who are projected to steadily siphon share from other traditional payments methods through 2019. The card networks have responded with to the threat of alternative payments providers by offering their own easy checkout services such as Visa Checkout, MasterPass and Amex Express Checkout.
“Instead of heading to stores for the last-minute gifts, shoppers will pull out their phone on the way to the party and order a last-minute gift. Consumers are clearly opting for shopping using the smaller screen while on the go”, said Michael Moeser, Director of Payments at JAVELIN. “Single-click transactions are the holy grail of alternative payments providers, as speed of the transaction is one of the top reasons consumers choose an alternative payment options.”
The report, Online Retail Payments Forecast, includes survey of over 3,000 U.S. adults. It focuses on innovation in the online payments space with players such as Amazon and PayPal creating a more frictionless checkout experience, and Apple and Google Wallet (now Android Pay) are shaping consumers’ expectations for mobile commerce.
Related JAVELIN Research
- Mobile Proximity Payments Forecast 2015
- Mobile Online Retail Payments Forecast 2015
- Online Retail Payments Forecast 2013–2018: Alternative Payments Go Mainstream
JAVELIN, a Greenwich Associates LLC company, provides strategic insights into customer transactions, increasing sustainable profits for financial institutions, government, payments companies, merchants and other technology providers. Javelin’s independent insights result from a uniquely rigorous three-dimensional research process that assesses customers, providers, and the transactions ecosystem.