“As of 11 a.m. PST, PayPal is already seeing a six-fold increase (514%) more mobile payment volume on Cyber Monday 2011 compared to the same time period on Cyber Monday 2010.” — Claudia Lombana, PayPal Shopping Specialist
Not even halfway through the day on the west coast of the U.S. did PayPal report a huge jump in mobile payment volumes over last year’s Cyber Monday shopping. Some years back — when Cyber Monday actually sounded hipper than CompuServe — I remember sitting at a desktop computer and hitting F5 to refresh the browser and get good deals. Fast forward to present day and consumers can shop anywhere they have connectivity and a tablet or a smartphone.
As barriers to commerce are reduced and it becomes easier to buy things, guess what: Consumers generally buy more things. And if you doubt that, just give Amazon’s Prime subscription a try and install the Amazon Mobile app. I did and our Amazon purchases jumped more than 10-fold in the past year.