30 M-Commerce Stats and Figures That Marketers and Retailers Can’t Find Success Without
What is mobile commerce? The growing popularity of mobile devices has set a lot of trends in motion. In the years before smartphones and tablets emerged, online shopping was limited to desktops and the rise of the online retail giant, Amazon. Now, we’re also experiencing a new growing practice called mobile commerce.
Mobile commerce, or m-commerce, is the buying and selling of goods through smartphones and tablets. M-commerce statistics have shown that this industry is booming, but there may be more ahead of us. For professionals like marketers, retailers, and others in the retail industry, it might be time to go and join the bandwagon—while keeping ahead of the latest trends. To help, we’ve put together some of the most important statistics regarding this industry and where it’s headed.
General M-Commerce Statistics and Facts
- 49% of consumers use their smartphones for shopping online.
- The total mobile coupon users worldwide will be over 1 billion by 2020.
- The number of proximity mobile payment users will reach 1 billion by the end of this year.
- The mobile data traffic worldwide is expected to grow by at least 700% between 2016 and 2021.
- In 2018, the world spent an accumulated 18 billion hours using shopping apps.
- The global m-commerce transaction value will be $2.3 trillion by the end of this year.
- The global market wallet size will be worth over $9 trillion by 2026.
- There are 8.97 billion mobile connections worldwide.
- 66.72% of the world’s population are unique mobile users.
- In 2021, 53.9% of US retail e-commerce sales will be from m-commerce.
Mobile Users Statistics
To get a full understanding of the m-commerce industry, we must first understand the driving force behind it. Without consumers, the m-commerce industry wouldn’t be able to kick off. As such, marketers should first have a full understanding of the people who are making these mobile transactions.
1. Mobile data traffic will have increased by 700% between 2016 and 2021.
As the number of mobile users continuously grows, so too will mobile data traffic as people strive to access the internet constantly. Smartphone statistics show that in the five years leading up to 2021, mobile data traffic will increase by 700%.
2. There are 8.97 billion mobile connections worldwide.
(Bank My Cell)
According to recent statistics, there are now over 8.97 billion mobile connections worldwide. To put that into perspective, there are a billion more mobile devices than the current world population of 7.69 billion. This simply means that online retailers have a huge market to cater to, definitely larger than a brick and mortar shop’s reach.
3. 66.72% of the world’s population are unique mobile subscribers.
(Bank My Cell)
When it comes to tablets and smartphones, statistics show there are more mobile connections than there are people. However, only two-thirds of the world’s population are unique mobile subscribers. This basically means that there are some people who have more than one device. For example, there are people who like to separate their work phones from their personal phones.
4. 12% of consumers consider mobile web shopping the most convenient method.
In this study, the subjects listed a few issues they have: these include pop-ups and intrusive ads, lack of proper information, and lack of mobile optimization.
5. The time the world’s population spends in shopping apps reached 18 billion hours in 2018.
One of the most surprising mobile user statistics tracked how much time we spent using shopping apps last year. According to the data, the total time spent on these apps was 18 billion hours. If that’s not impressive enough, take note that it’s a 45% increase from 2016’s numbers.
M-Commerce Industry Statistics
Now that we’ve got a glimpse of the mobile users worldwide, it’s time to take a look at the m-commerce industry itself. No one exactly knows exactly when it became an industry of its own, but shoppers now have a whole new world of goodies to buy in the palm of their hands.
6. M-commerce sales are expected to make up 44.7% of e-commerce sales in the US this year.
What is the difference between ecommerce and mcommerce? To better understand it, we should note that the latter is growing steadily. According to recent statistics, mobile commerce sales are expected to make up at least 44.7% of ecommerce sales in the US by the end of this year. The numbers are very high considering last year’s 29.1% share.
7. Retail m-commerce sales in India will be 80% of global sales by 2020.
The US and Chinese e-commerce market are certainly behind here, but people shouldn’t count out other economies too soon. According to market statistics, the retail m-commerce sales in India will soon reach 80%. This is a huge jump from 75.3% in 2018.
8. 53.9% of all US retail e-commerce will come from m-commerce by 2021.
M-commerce statistics like this represent one of the major breakthroughs in the m-commerce industry. In 2017, this share was just at a measly yet impressive 34.5%. Considering the recent growth in the industry, experts are expecting it to reach 53.9% by 2021.
9. The worldwide m-commerce share in e-commerce is expected to reach 72.9% globally by 2021.
The expansion of m-commerce in the US is already impressive, but its global growth will be even more surprising. M-commerce will represent a 72.9% share of the global market by 2021 according to mobile ecommerce stats. By comparison, its share in 2017 was just 58.9%. Some of the countries responsible for the growth are China, India, and of course, the US.
10. Global m-commerce will break the bank this year with $2.3 trillion in value.
As expected, the m-commerce industry is expected to gain more revenue this year as it continues to get a larger share of the market. Analysts expect that the industry will earn at least $2.3 trillion by the end of this year. By 2021, it will earn $3.56 trillion. To see how well it’s grown, keep in mind that it had $970 billion in sales in 2016.
11. Global m-commerce is growing at a pace of 29%.
Marketers often try to gain insights into mcommerce vs ecommerce growth. In answer, the global m-commerce market is growing at a steady pace of 29%. On the other hand, the global e-commerce market is growing at a rate of only 22%. While the gap isn’t too big, analysts are expecting the difference to widen considering the number of mobile devices worldwide.
12. 90% of travel brands believe having a mobile strategy is necessary to succeed.
Travel brands are taking notice of recent mcommerce trends when it comes to consumerism. In fact, 90% of them believe that having a strategy that caters to the mobile market will be vital for their success in the coming years.
According to the latest user experience stats, they might be right. The fact that bad mobile experiences drive away 52% of users is only one of the many stats that illustrate the importance of accepting a mobile-first approach.
13. Mobile conversions still lag behind desktop conversions at a rate of 1.61%.
Mobile conversions are still particularly weaker compared to desktop. According to studies, traditional shoppers converted with a rate of 3.91%, compared to mobile conversions at a rate of 1.61%. One of the main concerns of mobile shoppers is the quality of security while shopping on mobile.
Mobile Shopping Statistics
M-commerce wouldn’t be considered a form of commerce if it didn’t involve shopping. As we’ve already seen, mobile shopping has really taken off. As the very foundation of m-commerce, it’s vital to see the important stats and figures regarding this matter.
14. 49% of consumers use their smartphones for shopping.
In a study published last year, it was revealed that 49% of consumers use their smartphones for shopping, according to recent mobile phone statistics. Given that major retailers like Amazon and Alibaba are readily available on mobile devices, it shouldn’t be surprising that a majority of consumers prefer this kind of buying.
15. Online shopping on mobile increased from 8% to 15% in just one year.
In 2014, the amount of online shopping on mobile devices increased from 8% to 15%. Today, the numbers show that 90% of users make purchasing decisions through their mobile device. On the other hand, desktop online shopping decreased from 78% to 63%. The shifting trend was apparent even five years ago, and it looks like mobile shopping will soon take over desktop shopping.
16. Last year’s Cyber Monday mobile sales generated over $2 billion in revenue.
Cyber Monday remains to be a huge shopping event for all generations. Thanks to mobile devices and m-commerce, Cyber Monday deals have become more accessible. According to 2018’s mobile phone sales statistics, the shopping event generated over $2 billion via this purchase method. From a broader perspective, the sales accounted for 51.4% of website traffic.
17. 61% of US consumers use their mobile devices for price comparisons between stores.
Oddly enough, 61% of US consumers use their mobile devices to compare prices between stores. On the other hand, 63% of US consumers use their devices to get discounts or coupons for in-store purchases. This is one of the mcommerce trends sparked by the rise of dynamic QR codes available online.
18. The total mobile coupon users worldwide will be over 1 billion before 2020.
Mobile coupons are becoming a common trend as more and more people hope to bag an amazing deal. As they search for better deals, the number of global mobile coupon users worldwide could exceed one billion by the end of 2019 according to recent data.
19. Shopping is a fast-growing app category with a 54% growth in 2017.
Shopping apps are taking the Play Store and App Store by storm. 2017’s mobile shopping statistics show that there was a 54% increase in usage sessions for this app category. While it’s far from beating the gaming category, it’s growth is impressive nonetheless.
20. A smartphone is the leading m-commerce device, with 83% of shoppers preferring it.
The remaining m-commerce shoppers prefer tablets and wearable devices, with each accumulating 14% and 3% of the user base respectively. The reason smartphones are preferred is that they’re more functional and easier to use than wearables but are more compact than tablets.
21. On average, shoppers abandon their mobile shopping carts 85.65% of the time.
Based on the latest shopping cart abandonment stats, the average abandonment rate is 65.23%. While recent mobile ecommerce growth is undeniable, things aren’t always perfect when it comes to mobile shopping. Mobile shopping carts have a notably high abandonment rate. This is slightly greater than the average abandonment rate on tablets and desktops, 80.74% and 73% respectively.
22. Amazon is the most-used shopping app.
Amazon remains the top name when it comes to online retailing. It looks like it’s also a key player in the shopping apps category. It’s currently the most popular shopping app in the US. The closest competitor is Alibaba.
23. Tablet users spend an average of $87.01 per order.
While most users prefer smartphones, tablets are the mobile device of choice for big spenders. According to mobile ecommerce statistics, the average spending on tablets per order is $87.01 while smartphones have $79.33. When looking at ecommerce in general, the highest spending is on desktop devices, which see orders closer to $179.98.
Statistics on Different Types of M-Commerce
While consumers are the industry’s backbone, it’s the payment platforms that serve as the bridge between retailers and consumers. Without platforms like PayMaya, PayPal, and many others, m-commerce might not even exist. So what are the types of m-commerce? Here are the facts behind this aspect of the industry.
24. 39% of internet users prefer mobile payments.
Mobile payments are starting to take traction in m-commerce. According to recent data, 39% of internet users prefer mobile payments now. Globally, mobile payments are becoming more accepted in each nation. The current highest acceptance rate is in China, where 64% of users prefer it over other payment methods.
25. The biggest platform is WeChat Pay.
When it comes to thinking about which of the top platforms are the biggest contributors in the ecommerce industry, people often think of PayPal or even Visa. However, the current king is WeChat Pay. The platform accounts for over one billion daily active users. It’s followed by Samsung Pay and Ali Pay. In fourth place is Apple Pay, with only 383 million users. Just looking at the sheer number of users, this is clearly one of the biggest emerging mcommerce trends.
26. By the end of this year, over 61 million US consumers will use mobile payments.
Mobile payments are starting to gain ground in the US. In 2016, the number of users that preferred mobile payments was only at 48.1 million. As the years went by, the number continued to balloon. By the end of this year, at least 61 million US consumers will begin using mobile payments, while the mobile payments market is expected to grow to $4.5 trillion by 2023.
27. Over 1 billion phone users did mobile banking.
Banks and other finance firms are launching apps for the convenience of their users. The rise of these apps paved the way for more mobile banking. According to smartphone statistics, more than a billion mobile phone users have used their devices for banking worldwide. In the US, over 70% of millennials used this emerging practice.
28. Proximity mobile payment transaction users will reach 1 billion in 2020.
Many users are now able to use their smartphones for payment via scanners. This is a growing type of m-commerce that’s expected to boom in 2020 worldwide. According to statistics, there were 721.2 million users globally in 2017. However, by the end of 2020, it will reach a billion.
29. The value of proximity mobile payments will reach $113.8 billion in the US by the end of 2019.
As more proximity mobile payment users emerge, its transaction value will increase as well. Market analysts predict that by the end of this year, the transaction value of this m-commerce type will be at $113.8 billion.
30. The global mobile wallet market size will be at $9.35 trillion by 2026.
(Global News Wire)
Digital wallets play a huge role in e-commerce. It can help any mobile shopper with his or her shopping needs instantly. As more people see the convenience of mobile wallets, more wallets will be made. Compared to 2017’s $880.21 billion, this will represent a 30% CAGR.
M-commerce is only growing stronger each year. The allure of easy transactions thanks to mobile devices seems too much to ignore for some users. If there’s one thing these m-commerce statistics tell us, it’s that mobile devices have a huge influence on our shopping and spending habits.
List of Sources:
- Business Insider
- Bank My Cell
- Dynamic Yield
- App Annie
- Juniper Research
- Mobile Marketer
- Grow Code
- Merchants Savvy
- Globe News Wire