Mobile billing has been expanding steadily alongside the digital explosion transforming every aspect of sales and communication, and it shows no signs of slowing down. In fact, the trend is picking up steam, making it more important than ever to work with a bulk SMS service provider for your business.
Here are just a few of the trends that we are seeing in 2019:
Mobile transaction volume has been increasing each year.
We’re not talking about small increases, either. In 2016, mobile transactions totaled about 8.7$ billion. Current eMarketer forecasts for 2019 suggest that this figure will rise to 27$ billion. That comes to an increase of almost 210%. This is a phenomenal boost in a ridiculously short amount of time.
The upshot? Your business can’t afford not to take advantage of the book in bulk SMS and mobile billing. The technology will continue to expand and transform the marketplace. It’s becoming more important every day to make sure your company keeps up with the changing times. In fact, mobile billing and internet payment options are a key to putting your business in the forefront of the new business revolution.
Younger Generations are Taking the Lead
As with any new technology, it takes a while for the older generation to become comfortable with the process. This is more visible in the use of mobile billing than with most things. In fact, recent comScore statistics show that only 3% of users over 62 are jumping on the mobile bulk SMS bandwagon. Only 27% of mobile billing users are between 40 and 61. While this is a fair piece of the pie, it doesn’t compare to the 70% of users 39 and under. However, established users are likely to continue their purchasing habits, meaning that bulk SMS will become an established trend nearly all most age groups over the next couple of decades. That means that including mobile bulk SMS in your business model will ensure that your business grows steadily in the years ahead.
Mobile Payment Use is Expanding Rapidly
Between 2010 and 2015, the use of mobile payments increased 118%. At the moment, this is only a small percentage compared to the volume of debit and credit card use, this trend shows no signs of slowing down. By 2019, these rates are expected to more than double again, increasing by more than 108% from the 2015 figures in North America alone. And the US is slow to pick up on the trend, as mobile billing in the states is only 2% of credit card transaction volume, while it comes to more than 4% globally. In order to take advantage of the growing market, it’s vital to position your company to take advantage of mobile billing services.
Keep an Eye on the Holiday Market
It’s no secret that Black Friday and Cyber Monday are the biggest sales days of the year. This is the time that retail chains can expect to get in the black and set themselves up for the coming year. Between 2016 and 2017, mobile transactions increased by 108%. In fact, in 2018, sales from mobile devices accounted for 32% of all sales. So, if you haven’t gotten your business mobile friendly yet, it’s time to get the ball rolling before the year gets much further along.
If you want to know more about bulk SMS and mobile billing, feel free to contact us. At Mobivate, we’re dedicated to expanding the reach of your business and helping you corner the market in the digital era.