Mobile Commerce Growth For Business



First, early adopters of mobile e-commerce applications appear to be people who already were relatively heavy Internet commerce users. Second, adoption of the mobile shopping application is associated with both an immediate and sustained increase in total platform purchasing, with little evidence of substitution from the core platform. As predicted (based on numerous studies and mobile eCommerce statistics), mobile traffic became just as prevalent as desktop traffic (this happened back in 2015). That's why we've been emphasizing the importance of mobile responsiveness to our clients for years. By bringing businesses together and powering e-commerce with unique data-driven insights, Bango delivers new business opportunities and new dimensions of growth for customers around the world. As such, much of the discussion around mobile commerce focuses on user experiences when engaging in mobile commerce. The Future of Mobile Commerce. The most prominent trend of mobile commerce is its market share growth. M-commerce spending in 2018 totalled 501 billion, expected to grow to 740B by 2023: Source: Statista.

  1. Mobile Commerce Growth For Business Grants
  2. Mobile Commerce In Retail
  3. Amazon E Commerce Growth

As predicted (based on numerous studies and mobile eCommerce statistics), mobile traffic became just as prevalent as desktop traffic (this happened back in 2015).

That's why we've been emphasizing the importance of mobile responsiveness to our clients for years. Now, with more than half of all internet traffic shopping from a mobile device, it is extremely important to make sure your website is primed for mobile viewing.

As we sit here in 2021, let's look at the trends that continue to change.

Let us be clear: If you plan on running a successful eCommerce website, or any website, you absolutely must cater to mobile users and consider mobile shopping. It must be a major part of your digital marketing strategy. Not doing so is simply ignoring a majority of your potential customers. This has implications on how you consider the design of your eCommerce website, how you should think about eCommerce SEO and the importance of optimizing your website for mobile search results.

Not only are significantly more users accessing the web from a tablet or smartphone than a desktop, they are doing so with more eCommerce intent than ever before. During last year's busy holiday shopping season, a third of all online purchases came from smartphone users. Not even Black Friday (6.2 billion in online revenue in 2018) was immune to mobile fever, as nearly 40% of sales on the traditionally brick and mortar shopping day came via a mobile device. On Cyber Monday ($9.2 billion in online revenue in 2019) 54% of visitors came from mobile devices, while around 33% purchases on their mobile device, up over 40% from the year before.

The fact is, it's now statistically much more likely that eCommerce customers will be interacting with your website from a smartphone or tablet than a desktop. Armed with this knowledge, it's your responsibility to create a shopping experience that appeals to your customers. Mobile shoppers are finicky, and rightfully so. With the highly competitive nature of the eCommerce industry, your customers will not hesitate to buy from your competitors if even the slightest headache arises.

Commerce

Statistics show that 40% of users will go to the competitor after a bad mobile experience, yet an alarming 84% have experienced difficulty completing a mobile transaction. That is an incredibly high number, and it shows just how great the opportunity is for companies to capitalize on consumer conversion just by creating mobile responsive and user-friendly websites. It's one reason Amazon focused on making an easy shopping experience and was able to gain a massive audience and grow.

Still not convinced? Let these statistics do the talking:

The Most Important eCommerce Mobile Stats Include The Following:

  • 77% of American's own a smartphone
  • Over 230 million U.S. consumers own smartphones
  • Around 100 million U.S. consumers own tablets
  • 79% of smartphone users have made a purchase online using their mobile device in the last 6 months
  • Almost 40% of all eCommerce purchases during the 2018 holiday season were made on a smartphone.
  • eCommerce dollars now comprise 10% of ALL retail revenue
  • 80% of shoppers used a mobile phone inside of a physical store to either look up product reviews, compare prices or find alternative store locations
  • An estimated 10 billion mobile connected devices are currently in use
Growth

Ignoring these trends in mobile eCommerce (referred to as m-Commerce in the industry) evolution means potentially missing out on more and more profit as these trends continue. Hopefully, mobile optimiation and conversion optimization are part of the SEO services offered by your web company. If you're trying to make improvements on your own, here are some tips to make your website mobile friendly:

  • Your website should be programmed to intuitively adapt to whatever device is accessing it in order to provide the most user-friendly experience
  • Tap-Friendly: make sure all buttons, links and calls to action have the appropriate size and margin to prevent errors.
  • Text Phone Numbers: Make sure all phone numbers are text and not images so users can tap-to-call, or copy and paste the number to share with a friend.
  • Visual Content: Since mobile websites are usually viewed on the go and on much smaller screens, utilizing visual content such as infographics and videos will be preferred over reading lengthy text.
  • Main Navigation: increase padding around menu items so it’s easy for the user to read and tap on menu items.
  • Contact Forms: Increase form input fields so it’s easy for the user to fill out the form.

Want to see more statistics? Check out our SEO statistics article.

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The last few years were a time when the mobile commerce (mcommerce OR m-commerce) industry witnessed a kind of unprecedented growth. According to App Annie’s State of Mobile 2019 report, the total time mobile users spent in shopping apps was 18 billion hours in 2018 [1]; and Cyber Monday alone generated $2 billion dollars [2], over halfof which came from mobile devices. These are all promising statistics that might nudge your business in a more proper direction, and there’s plenty more where that came from:

Statistics of Mobile Payments

  • While mobile wallet payments only amounted to $75 billion in 2016, they are forecasted to grow to $500 billion by 2020 – or about 80% over five years. [3]
  • According to Worldpay’s 2018 Global Payment Report the use of mobile payments is set to continue its inexorable rise and become the second most common payment method after debit cards by 2022. [4]

Mobile payment is expected to replace credit and debit cards after decades of being the preferred method. This, of course, shouldn’t come as a surprise for you since mobile payment has the advantages of being quick, wireless and effortless. All you’d ever need to carry along with you is a smartphone with 3G/4G connection and you’re good to go.

Statistics of mCommerce Retail

Mobile Commerce Growth For Business Grants

  • By 2021, the world’s m-commerce sales will make up for 53.9% of all e-commerce sales. [5]
  • The worldwide m-commerce share in e-commerce is expected to reach 72.9% globally by 2021. [6]

The mCommerce world is growing at such a rate that’s never seen before. Marketers are now expecting mCommerce to be the main channel for online shopping since as much as 87% of shoppers engage in online product search before buying.

Statistics of App Users Patterns

  • 77% of US consumers use their mobile devices in stores to compare prices. [7]
  • 71% of in-store shoppers who use smartphones for online research say their device has become more important to their in-store experience. [8]

As the mCommerce grow in its market share, it’s becoming increasingly important for eCommerce store owners to make their store responsive to all kinds of screens and devices. And while smartphones are becoming the main devices for browsing of products, it’s still not delivering adequate conversion rate compared to tablets and desktops.

Statistics of Mobile Search

  • Mobile is the dominant platform for searches with 48% of buyers using a smartphone to start searching with a search engine. [9]
  • 58% of Google searches are done via mobile devices. Only 5 years ago, the figure was nearly half of that (34%). [10]
  • 65% of clicks on paid Google search results come from mobile devices. [11]
  • 42% of mobile-driven brand interactions involve Google search. [12]
  • 88% of consumers who search for a type of local business on a mobile device call or go to that business within 24 hours. [13]
  • It is expected for mobile searches to stay relevant for quite awhile since the world is demanding a need for convenience that desktops and bigger types of devices can’t meet. In 2019, global website traffic share for mobile is leading with a share of 53.29%—almost 10% above its predecessor. This means that the majority of your customers are now mobile-based and thus, to drive your mCommerce success, it’s important that you understand and master mobile SEO practices for an easier time of getting on top of Google SERP. [14]

The Latest M-commerce Statistics

  • Global mCommerce revenue is expected to reach $3.56 trillion by 2021 – with an average y-o-y rate of 33.8% [15]
  • 67% of the global population owns a mobile phone in 2019. [16]
  • 79% of smartphone users have made a purchase online using their mobile devices in the last 6 months. [17]
  • Smartphones will make up 34% of all U.S eCommerce sales in 2019. [18]
  • The share of mCommerce in all e-commerce is expected to rise to 72.9% by 2021. [19]

The time for Mobile Commerce is now and it’s critical. Every day you’re not implementing the best approaches in your store is potentially thousands of dollars lost.

For instance, a retailer with annual revenue reaching up to $20 million could see a $1.4 million loss in revenue simply by delaying their implementation of Progressive Web Apps (PWAs) for 1 month, and another $6.8 million if they decided to delay it for six months. PWAs are essentially a free revenue boost to businesses, which is why it’s the current trend among eCommerce retailers to mass adopt PWAs into their business, making it the new go-to approach for developments of responsive, mobile-first online stores.

It is thus that you should always try to keep up with the industry and find out for yourself which current practices are the best and most suitable for your business. Your new initiatives, of course, should have statistical data in mind and not rely solely on a hunch.

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Let us know if you liked the post. That’s the only way we can improve.Luke VuA content writer with a passion for the English language.

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Mobile Commerce In Retail

Most VotedNewestOldest Inline FeedbacksView all commentsappvoxel10 days ago

Amazon E Commerce Growth

m commerce is the really going fast. The statistics are really amazing,

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