Mobile apps' consumer spending doubles in three years
On-the-go shopping increased, according to a new report, and Assistant Professor of Information Systems Yili (Kevin) Hong shares why.
Ever since smartphones came into our lives, they've influenced our shopping behavior. A recent report by app and analytics firm App Annie confirms we're getting ever more comfortable with mobile commerce, spending $86 billion worldwide in 2017, which is up from $40 billion in 2015. Yili (Kevin) Hong, associate professor of information systems, attributes the rise to longtail markets, where retailers prosper even when their offerings appeal only to a small audience.
In this article in the Phoenix Business Journal on Feb. 22, 2018:
People are more likely to buy in these markets because there are millions of products on sites like Amazon and eBay. Consumers can find something that fits their hobbies and purchase it.
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