If you’ve been keeping up with recent tech and business news, chances are you spotted several headlines about the rapid growth of the e-commerce, m-commerce (electronic commerce conducted on mobile devices), and mobile gaming sectors. With what we’ve been reading, we couldn’t be more confident that the upcoming launch of our game-commerce platform, Stocket, is coming at the perfect time.
Here is a look at how e-commerce, m-commerce, and mobile gaming has been trending in current headlines:
Business Insider revealed that e-commerce growth has hit a two-year high, with sales in the US totaling over $97 billion during Q2 of 2016. The e-commerce market is being driven by an increase in shopping on mobile devices, with “m-commerce” purchases accounting for nearly 19% of all e-commerce purchases in Q1 of 2016. A reason for the spike in m-commerce sales is that consumers are increasingly confident in the security and convenience of shopping on a mobile device. Retailers have spent the last few years addressing concerns by optimizing their mobile sites and apps to provide clear photos and details, as well as implementing secure, frictionless checkout systems like Masterpass and PayPal One Touch.
Mobile shopping revenue is not the only thing on the rise. Wall Street Journal reports that mobile-game revenue is expected to grow 21% to $36.87 billion this year, according to research firm Newzoo BV. By 2019, it is expected to reach $52.5 billion.
A majority of this revenue comes from in-app purchases: virtual goods sold inside apps for as little as 99 cents each. SuperData Research Inc. estimates that “Pokemon Go” has grossed about $120.3 million from in-game transactions to date, and Finland’s Supercell Oy pulled in revenue of $2 billion in 2015 from “Clash of Clans” and two other mobile games. In-app purchases is just one of Stocket’s revenue streams, with players being able to purchase a variety of boosters to advance in the game.
As a hybrid of mobile gaming and e-commerce, we expect Stocket to disrupt both sectors. It is the first application to offer users a way to discover trending products, shop, and earn money in an immersive gaming environment, and once we launch Stocket’s augmented reality (AR) features, we expect them to further disrupt, and give the game an additional edge.
Not only is AR technology being used in games like Pokemon Go and Stocket, but it’s becoming more of a buzz word in the fashion and mobile shopping industries. Designer Rebecca Minkoff’s latest New York Fashion Week show used augmented reality to help women shop the looks they saw live. HBR recently published an article about how AR will change mobile shopping, stating that “applications using AR stand to eliminate customer pain points, elevate customer service, and create a differentiated, personalized customer experience.”
Our game-commerce app will be launching to an exclusive group of early adopters soon. If you want to be one of the first to play Stocket, click here to sign up.