Xiaomi, the world’s 3rd largest private company VP Business Development Email Lists and 2nd largest mobile phone manufacturer is a testament to this phenomenon — providing great phones at affordable costs.
For an app developer, this means a highly fragmented user base, spread across hundreds of devices and different OS versions. Additionally, if you are monetizing via in-app purchases, iOS users are 7X more valuable as compared to Android users.
online retailers are reaching $100 million
- The annual growth rate of the online advertising industry in the United States is in excess of 20%, with mobile advertising driving almost all of the growth.
- Mobile advertising holds a lot of promise with 25% of time spent on mobile, but mobile advertising accounting for only 12% of total ad-spend. It is worth noting that 3/4 of all ad revenue growth is captured by two companies: Google and Facebook.
The Impact of Commerce
- E-commerce (M-commerce included) is 10% of all retail sales in the United States. The growth rate is expected to increase as millennials become older and have more disposable income. This implies more commerce will be driven via mobile.
- Online shopping data is leading to new private labels by online sellers (e.g. Amazon launching Pinzon in home goods or Franklin Tailored in shoes). Data is allowing brands and online retailers to create highly tailored products and fine-tune algorithms to map users probability of purchase.
- Online retailers are not just launching data backed brands, but bringing retail to your doorstep. E.g. StitchFix , Le Tote, Trunk Club etc.
- Mobile is driving image based shopping and image commerce is rising. 55% of Pinterest users reported using Pinterest to find potential purchases. Offer-up, an image based local commerce app, rivals Snapchat and Instagram on time-spent/user. Offer-up is on path to $14 billion in GMV.
- Successful internet in sales less than 4 years after launch, 2x as fast as offline retailers.
M-commerce is highly lucrative and quickly creating new trends. Firstly, it is leveraging data to customize products and predict purchase patterns. Secondly, the combination of image based shopping and chat based commerce is driving purchase behavior. Thirdly, it brings retail to the consumer’s doorstep, helping millennials save their most valuable asset: time.