Here’s the executive summary:

The rapid consumer adoption of the iPhone has encouraged retailers to once again consider the mobile-enabled commerce opportunity. Only 14% of US Web buyers who own a mobile device that is capable of accessing the mobile Internet have used it to make a purchase, and typically this purchase is digital content. Forrester believes the mobile commerce market is in its infancy, with usability concerns, pricing, and security impeding adoption. As carriers adjust to consumer demand, retailers should position themselves for improved mobile Web sites that, at the very least, render their content properly through smartphones.