The e-commerce market is evolving at a spectacular rate, and never before has it been more competitive. In 2013, consumers spent a total of $351.9 billion online, and $1 of every $6 originated from a mobile device. Smartphones, tablets, and social media offer new channels for online shopping, and retailers are ensuring that consumers’ purchases are arriving at lightning speed. This report evaluates the actual and forecast changes in the e-commerce market, tracks the payments mix from 2012 through the forecast year of 2018 and identifies key drivers of market change. This report highlights the role of the mobile channel within e-commerce and includes a market-sizing for mobile online retail payment activity. Online share and transaction growth of credit cards (network and private label), debit cards, online alternative payments like PayPal and Amazon Payments, online credit services like Bill Me Later, prepaid cards, and gift cards are also evaluated.
33 pages; 17 charts/graphs
Consumer mobile purchasing surged to an all-time high, reaching almost $60 billion and demonstrating triple-digit growth in 2013. Consumers are increasingly turning to tablets and phones for purchasing despite the fact that many sites are not ideally set up yet for mobile devices — and creating opportunity for vendors who are prepared for the onslaught. Vendors and merchants are now challenged to seamlessly integrate mobile into the online and in-store search and shopping experience. Consumer spend on tablets surpassed phones for the first time in 2013 as tablet adoption swelled. This report provides an in-depth study of the mobile purchasing market, including dollar and consumer market sizing of online, app and proximity payments, a five-year forecast of mobile proximity payments, tablet vs. phone dollar market sizing, and frequency and size of median purchases, as well as commerce by device type. It also looks at what factors are holding consumers back from greater mobile purchasing and defines strategies to excel in this expanding market.
29 pages; 20 charts/graphs
Javelin’s senior analysts identify 10 trends that are transforming financial services, evaluate the implications, and map out action steps in 2014 for banking, payments, mobile, and security strategists. In 2014, Javelin predicts:
36 pages; 11 charts/graphs
Mobile banking adoption is increasing rapidly, with 45% of mobile consumers using mobile banking in the past 90 days. The importance of the mobile channel to future growth cannot be overstated as 71% of consumers using mobile banking believe that online or mobile banking is sufficient for their banking needs. With 100% of the top 25 banks now offering mobile banking, vendors are turning greater attention to mid-size and smaller banks and credit unions. In this fourth annual review, Javelin provides a highly detailed, competitive analysis and ranking of 11 leading mobile banking providers. With the continuing maturation of the channel, vendors are now segmenting their offerings and therefore a detailed, comparison of eight standardized, out-of-the-box solutions and eight- higher-end, customizable solutions are provided. Intended for both institutions and vendors, this report can be used as a strategic guideline for institutions developing their mobile strategy and/or selecting a vendor. For vendors, this report includes evidence-based guidelines, strategies and tactics for building out a vision and a solution that can move successfully into the future.
56 pages; 38 charts/graphs
The march of technology has made banking transactions and customer service interaction increasingly digital and distant, but there is no turning back the clock to a time when banking was primarily a face-to-face experience. Instead, the industry must rely on technology itself – like financial alerts – to proactively initiate contact with customers. Alerts have reached an evolutionary turning point that requires rethinking how to broaden their role, with adoption of email and text alerts on course to rise only 6.5% annually through 2018, and about two-thirds of consumers effectively unserved. To counter these trends FIs must expand the content of alerts with a “security + personal finance” approach that can provide relevant and timely information, insight, and recommendations that empowers and emboldens high-value consumers on a daily basis as they bank, shop, buy, borrow, save, and invest.
52 pages; 32 charts/graphs