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News Now

CU System
Consumer mobile use explodes
BANGLORE, India (4/11/14)--Recent research from GOBankingRates shows that credit unions are keeping pace with banks in providing mobile banking options to their members (News Now April 4). If credit unions needed any more convincing, new data from MobStac, a Banglore, India-based mobile commerce solution provider, shows that consumer mobile adoption is only gaining more traction.
 
Statistics from MobStac reveal how mobile is becoming more embedded in the everyday lives of consumers. Among MobStac's findings:
  • In 2013, U.S. mobile commerce sales grew 63% to $34.2 billion.
  • Seventy-eight percent of smartphone users access retail sites through a mobile app.
  • Traffic from mobile devices accounted for nearly 40% of total online shopping visits on Black Friday and Black Monday in 2013.
  • Fifty-one percent of Facebook referrals for publishers come from mobile.
  • At the end of 2013, 74% of U.S. mobile phone users owned a smartphone, and 55% owned a tablet.
  • By 2015, 81% of all U.S. cellphone users will have smartphones.
  • The number of mobile commerce retail sales is expected to rise to $61 million for tablets and $25 billion for smartphones and other mobile devices by 2016.
  • Sixty-two percent of smartphone users have bought physical goods through their mobile devices in the last six months.
  • Mobile is estimated to account for 25% of all U.S. online sales by 2017.
  • Forty-one percent of shoppers said they redeemed mobile coupons at a department store and 39% mentioned clothing stores.
  • Fifty-seven percent of smartphone users visit the company's site or app while in-store.
  • Forty percent of mobile consumers turn to a competitor's website after a bad mobile experience.
  • In 2013, revenue attributable to mobile apps was $26 billion--up 70% from $18 billion in 2012.
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