Editor’s note: Phil Carter is an associate at Trinity Ventures, where he focuses on early-stage consumer technology investments particularly in mobile-enabled marketplaces and services.
A few customer groups are driving a disproportionate share of growth in smartphone use and mobile transactions. For entrepreneurs looking to build the next billion dollar m-commerce company, it pays to understand who these groups are, what their mobile activity looks like, and how to best serve them. When it comes to finding customers in mobile commerce, remember the Three Ms: moms, millennials and multinationals.
Moms are a great consumer demographic, accounting for more than 70 percent of U.S. household spending according to a 2009 survey by Boston Consulting Group. Moms are also smartphone power users. According to Edison Research, 64 percent of moms owned smartphones in early 2013 vs. just 53 percent of the general population.
The same study indicated moms spend an…
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