Smartphones Will Influence $689 Billion in Retail Store Sales by 2016

Smartphones currently influence 5.1 percent of annual retail store sales, translating into $159 billion in forecasted sales for 2012, according to new Deloitte research. For the first time in the industry, the in-depth study measures the "mobile influence factor," or impact of smartphones on in-store sales. The mobile influence factor captures the in-store sales driven by consumers' store-related smartphone activity such as product research, price comparison or other mobile application use.