I’ll admit to being originally skeptical of the smartphone as a purchasing device. But, as a person of reason, the data has swayed me.
Google has released a smartphone usage study showing that 53% of smartphone searches result in a purchase. And 20% of those purchases take place through the smartphone itself. While smartphones searches are still being used in majority for in-store purchases (40%) and later purchase online (35%), these numbers are very helpful in understanding the profit possibility of the mobile customer.
It’s also important to understand the behavioral economics behind the future of smartphone purchasing. Just as the move from cash to credit card unleashed a whole new level of spending (since buying things didn’t really feel like an exchange of money), expect a similar boom when you can 1-click purchase anything through your phone. Especially since smartphones are being used to cure boredom in everyday monotony.