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Research and Markets: Starbucks to Expand Order-Ahead Program as Mobile Transactions Grow
Mar. 31, 2016 04:56AM PST
Fintech Investing
DUBLIN, March 31, 2016 /PRNewswire/ — Starbucks has announced plans to bring its mobile order and payment service to China and Japan in 2016. The coffee chain rolled out the feature last year, which allowed American customers to pre-order their beverages using the Starbucks app and collect them without having to wait in line. …
DUBLIN, March 31, 2016 /PRNewswire/ —
Starbucks has announced plans to bring its mobile order and payment service to China and Japan in 2016. The coffee chain rolled out the feature last year, which allowed American customers to pre-order their beverages using the Starbucks app and collect them without having to wait in line.
(Logo: https://photos.prnewswire.com/prnh/20130307/600769 )
The mobile money market has established itself as one the fastest growing markets globally and is expected to grow 44.6% by 2019. With mobile phone usage becoming a consistent communication and content access medium, mobile money services are becoming highly popular among the people. Starbucks have benefited from this surge in popularity, with reports estimating that its mobile app could account for more than 50% of all transactions within a few years.
The rising adoption of mobile devices across the globe has encouraged retailers to integrate mobile POS into their payment process. This has proved very successful for Starbucks, with 21% of transactions now coming through the app in U.S. stores. It is likely that this figure could increase, with a recent report forecasting the global mPOS market to grow tremendously at a CAGR of 50%.
Starbucks say the app is increasing transactions by 15-20% in the U.S. A report on the global mobile payment market predicts that increasing awareness of mobile wallets and their convenience will increase the adoption of m-commerce. It projects this market could grow a further 36.26% by 2019, which may lead to an increase in the percentage of Starbuck’s customer using the app to complete orders.
Starbucks also plans to introduce delivery through the app this year in the United States, with reports that it will include features such as personalized food recommendations.
For further information on this topic, and a full list of all related documentation, please visit the M-Commerce section at https://www.researchandmarkets.com/rm/NLKJ.
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