The Growth of Mobile E-Commerce
02/08/2016 | Share:
The future is now. The advent of mobile commerce, once widely regarded as the ‘next generation’ of online retail, has picked up its pace, and thanks to a kick up the backside from game changers such as Apple Pay, ‘mCommerce’ is outgrowing E-Commerce to the tune of 300%.
2020 Predictions
In an Intelligence Report undertaken by BI earlier this year, they predicted that by 2020, 45% of all online retail will take place on a mobile, with an eye-watering $284bn changing hands.
But there’s no need to wait to get your business on board – mobile eCommerce is already a bigger player in the market than many people probably realise. Currently in 2016, around 20% of total eCommerce is completed on a tablet or smartphone. That’s $79bn worth of business through a mode of transaction many industries still ignore.
Figures released by Amazon, one of the biggest benefactors of the rise in mobile commerce, reveal a 110% rise in takings from this format, bringing in a staggering $12.8bn.
2015 Stats
In 2015 alone, whilst 75% of retail was still carried out on a desktop, the surprising figure was that around 15% of these online transactions were completed on a smartphone.
In fact, research suggests that international markets as major as the US, China and Mexico prefer shopping through an app than in a browser, a trend that others, including the UK, are almost guaranteed to follow in the very near future. Research suggests that a whopping 68% of Chinese people have used mCommerce in the past, and that Scandinavian countries, particularly Norway, seem to have taken to the trend more quickly than others, too.
Apple Pay
There’s no doubt that Apple Pay is responsible for a momentous rise in M-Commerce. 45% of all transactions were carried out on that platform last year, a percentage that is expected to skyrocket in the years to come.
