New Deloitte Study: Smartphones To Influence $689 Billion Of In-Store Sales By 2016

As smartphone sales proliferate, largely due to their increased availability and affordability, consumers are utilizing mobile phones more frequently to research potential purchases, prices and ratings/reviews.

In fact, smartphones currently influence 5.1% of annual retail store sales, translating to $159 billion in forecasted sales for 2012, according to new research from Deloitte Consulting. This total is expected to grow to 19%, or $689 billion in brick-and-mortar transactions by 2016.