The Internet of Things (IoT) is fueling impulse shopping, according to recent research released by Javelin.
In its recent report, 2016 Online Retail Payments Forecast, Javelin examines the new IoT and mobile devices and applications consumers are using to quickly and efficiently purchase through online and mobile channels. The research firm found that as consumers move “mobile first” mentality when it comes to e-commerce, they are relying on the most frictionless payments to complete purchases on the go.
The advent of what Javelin describes a “contextual” consumer who relies on IoT and other mobile devices creates an environment for greater impulse purchases; they will increasingly gravitate to using payment forms that offer the easiest, fastest and most secure payment methodology, particularly one that also integrates shipping/billing addresses as this removes the challenges of typing on a smaller phone keyboard. The research firm is forecasting that by 2020, almost half of all dollars spent online will come from online purchases made using a mobile device by fueled by contextual shopping and increasing reliance on mobile devices.