The digital commerce sector is set to see substantial growth in user numbers over the next 4 years, as we see unique users surpass 3 billion by 2021. Juniper has identified two sectors set to drive the digital commerce market, in terms of transaction values; these are digital & physical goods and digital banking.
Source: Juniper Research
Changing Habits of Buyers
When we analyse the digital & physical goods sector in particular; for some time now, it has been clear that the mobile device, whether it be the smartphone or tablet, is becoming increasingly important in the world of eCommerce. Interestingly, Juniper has observed a shift in the market from a position where the smartphone was used as a means for discovery but not purchase, to a situation where the smartphone is used for both product discovery and purchase.
This trend appears to be a natural progression from the relatively stagnant consumer tablet industry, whose lack of steam has been compounded by the emergence, and prevalence, of larger-screened smartphones offering an improved purchasing experience. Indeed, mobile as a whole is gaining traction as a remote goods purchase device, although the smartphone’s growth is accelerating faster than that of the tablet.
For more information on how the digital commerce market is set to evolve, as well as the steps businesses can implement to take advantage of this, Juniper’s latest research Digital Commerce: Key Trends, Sectors & Forecasts 2017-2021
is available now