The $1.5 Trillion Opportunity Retailers Overlook
When it comes to tallying up retail sales, it's easy to overlook the impact of mobile. Although millions of consumers spend hours a day on their smartphones, only a small number of transactions are actually completed on the tiny devices. In 2013, for example, $235.3 billion was spent online, according to comScore. Among this number, only about $25 billion was attributed to mobile transactions. While these numbers pale in comparison to the over $3 trillion that was estimated to have been spent last year on in-store sales, the opportunity for smartphones is much larger than it appears at first glance.