Mobile commerce is defined as the sale of goods through mobile devices. With the rise of apps for online stores, and mobile specific payment processors, mCommerce is projected to grow 300% faster than traditional online shopping by 2016, according to data compiled by Coupofy for a new infographic. In raw growth terms that's around 42% growth in mobile shopping (2013 to 2016) compared to around 13% for standard eCommerce. Those who shop on their phones are also expected to spend three times the amount between 2014 and 2018, from $200 billion to $600 billion!
Interestingly it is not the United States that is driving the growth in mobile shopping, the majority of US consumers still prefer to use their laptops or desktops to buy online. In fact, it's Denmark who is leading the charge with a 55% increase in mCommerce between 2013 and 2016. They are closely followed by Norway, Sweden, China, and Spain. Emerging economies like India, Taiwan and Malaysia are also seeing huge growth in mobile shopping - this thanks to smartphones also becoming more accessible in these regions.
This trend is seen globally. More people than ever are using phones, especially the type of phones that make online shopping easier. However, it is not just shopping apps themselves that are prompting people to use their mobile phones to buy goods. There has also been a rise in payment processor apps as well, which also give customers control over their finances while on the go. For example, the likes of Apple Pay, Paypal and Google Wallet have made the process of paying online much easier itself. This has expanded outside of online stores, to the point where you can use your mobile phone to pay for goods in traditional retail outlets as well. You can't take your desktop pc in to a store, so it's clear that mCommerce growth is also about convenience and versatility.
Perhaps due to its sheer size and popularity, it is Amazon that boasts the most mobile sales, with revenues of $16.8 billion in 2014, followed by Apple with $14 billion, China's Jingdong Mall at $5.8 billion, and Google Play at $4.4 billion. Interestingly, the data also reveals that Apple users spend more on average than Android users, while tablet users spend more than smart phone users. To learn more about the rise of mobile commerce and the habits of mobile shoppers, check out the following infographic: coupofy
Infographic by: coupofy.com
Interestingly it is not the United States that is driving the growth in mobile shopping, the majority of US consumers still prefer to use their laptops or desktops to buy online. In fact, it's Denmark who is leading the charge with a 55% increase in mCommerce between 2013 and 2016. They are closely followed by Norway, Sweden, China, and Spain. Emerging economies like India, Taiwan and Malaysia are also seeing huge growth in mobile shopping - this thanks to smartphones also becoming more accessible in these regions.
Perhaps due to its sheer size and popularity, it is Amazon that boasts the most mobile sales, with revenues of $16.8 billion in 2014, followed by Apple with $14 billion, China's Jingdong Mall at $5.8 billion, and Google Play at $4.4 billion. Interestingly, the data also reveals that Apple users spend more on average than Android users, while tablet users spend more than smart phone users. To learn more about the rise of mobile commerce and the habits of mobile shoppers, check out the following infographic: coupofy
Infographic by: coupofy.com
