Any monetary purchase completed using a mobile computer is included in mobile commerce, also called m-commerce. It is e-commerce, allowing people to purchase and sell items or services from almost everywhere, merely using a cell phone or a tablet.
Mobile commerce or mobile e-commerce has a large number of advantages that can activate or promote new services or industries and effectively improvise old ones.
- Mobile transactions of income.
- Electronic tickets and passes for boarding.
- Purchases and distribution of multimedia content.
- Cellular finance.
- Payments without touch and in-app payments.
- Location-based equipment and services.
- Mobile ads, discounts, and cards for loyalty.
In 2017, mobile e-commerce revenues accounted for 34.5% of all e-commerce sales, and that figure is increasing. Mobile e-commerce revenues are projected to account for 54% of all e-commerce sales by 2021.
Website or online businesses that are available on mobile devices and are useful for smartphone users are partially ready until they are familiar with all the tactics and statistics of mobile commerce. Reports state that 12% of the total customers feel that mobile browsing or web is quite convenient.
The Mobile web plays a crucial role in influencing people to retain the goods or services by availing them with all the extra information related to the product or service then and there, which as a result, affects their decisions. Reports claim that one-third of the customer’s decision to purchase something depends or is effected by looking up detailed information about the services or products.
Different types of Mobile commerce include
- Mobile shopping: It is similar to e-commerce but can also be accessed through mobile devices, and there are many websites, apps, and social media platforms for online shopping these days, and online shopping is all the rage today.
- Mobile banking: This is similar to online banking and is available on mobile devices. Many banks offer their apps, while other websites or store transactions are done through messages or chat boxes.
- Mobile payments: Mobile payment options on mobile devices include a wide range of options, from apps to different links that are used for secured transactions.
Now without any further ado, let us get into the business of mobile commerce statistics.
Top mobile commerce statistics
Listed below are the mobile commerce statistics or e-commerce statistics that can influence online retailers, marketers, or business people. They help them realize the latest trends and statistics that can help them get accustomed accordingly and implement the required tactics and strategies for significant improvement.
Mobile commerce usage and revenue
Technological advancements have sprawled all over the world, and the customers are availed with options of purchasing goods or services from the comfort of their houses online. This way, the mobile commerce sales rate is drastically and relatively increasing than ever before. The maximum population of the world has a mobile phone or a mobile device and uses it to avail of services and products online.
But it’s no joke that mobile devices account for more than half of all Internet traffic. Yet smartphone users are doing much more than just searching online with these smartphones. They also use phones and laptops to make orders.
In reality, in the past six months, 62 percent of individuals who own a smartphone have made a purchase using their mobile devices.
Ecommerce statistics can impact the perceptions of internet merchants, advertisers or business people and allow them to consider the current patterns and statistics that can help them get used to them accordingly and execute the techniques and methods needed for significant change.
Consumers or customers can buy or purchase goods from mobile websites or applications, and these are the two ways for mobile shopping or online shopping.
How to use it?
The statistics mentioned can be beneficial for marketers or business firms to get to know about the emphasis that mobile websites and apps have on commerce and how to use and implement them. They can help in launching a new website or mobile application. Mobile commerce these days is all the rage. It has been growing drastically over the years and continues to grow still.
We need to consider the company’s share of income from mobile devices. The foremost thing to focus on is to target smartphone users or mobile device users by developing websites or mobile applications that are customer-friendly. This would make a lot of difference to the conversion rates for your smartphone or mobile phone.
A mobile-friendly platform potentially makes it 67 percent more likely that a customer would purchase an online product or services or goods.
Google research states that as page loading time goes from one to three seconds, bounce rates increase by 32%. Sometimes we may not be sure about the percentage of improvement or the benefit we gained by using websites or apps, and free mobile-friendly test tools can understand this.
- The average time spent o a mobile device is 3 hours 40 minutes, and only 10 percent of that is used on a web browser.
- This means relying only on web browsers cannot yield results.
- The majority of customers prefer mobile applications over web browsers.
- Up to ten times per day, 51 percent of users launch a smartphone app.
- Shopping apps have had the top growth rate over the years.
Those downloads will finally lead to dollars as long as you can get customers to install your app on their mobile devices. The more customers you have, the more money you make. The use and income of mobile applications should not only be limited to the consumer’s use of the United States, but a lot of the knowledge we have looked at so far focuses on American use.
The use of smartphone applications is increasing worldwide in prevalence, which leads to sales growth around the globe.
There was a 35 percent growth in total app profits from 2016 to 2017. That’s a considerable amount, especially when we’re talking here about billions of dollars. Researchers predict that the app revenue will reach $189 billion worldwide by 2021. Experts estimate that mobile shopping will account for 53.9% of eCommerce sales revenue by 2021.
Mobile app vs. mobile site
The value of making a mobile-friendly website was mentioned earlier and the revenue made with smartphone applications and other estimations.
We need to understand the differences and benefits of mobile sites and apps and implement a more beneficial business firm. The usage of both can be quite essential for the company’s growth, but mobile applications requirements in the development of the industry are unquestionable as it has its pros.
Mobile apps are more convenient to access and are faster, and can be opened in one click. Mobile apps can store data and help us to continue where we left from. Usage of apps for a certain period can be beneficial as offers and coupons are provided. More than 25 million US consumers used mobile coupons in 2018, and it is estimated that the number will increase by 56.5 percent over the next six years.
It is more personalized and more entertaining offers a wide range of deals that appeal to consumers or customers. Mobile phones and tablet users use them to compare products and deals, and this strategy was used by almost 93 percent of US consumers to find better deals. 78 percent of users would choose to enter a store from an app than a website link. 51 percent of US consumers use mobile phone apps for shopping and online purchases.
How to use it?
Consumers say smartphones are simpler and more accessible than smartphone websites and also their storage and settings. This is not only simpler for the buyer, but it also increases the likelihood of shopping for them.
Customers who order on an app spend two times longer on web sites and desktop computers than customers who shop. In comparison, users often spend three to four times more hours viewing smartphone applications than they do on the web and mobile pages.
The more they spend browsing, the greater the potential they have to buy and spend more cash. Your most loyal clients will be smartphone app consumers. That’s because, relative to individuals who shop from a mobile platform, they are twice as likely to come to your store after 30 days. This applies to why clients favor smartphone applications over mobile sites.
By using the app, they get perks and discounts, which helps to personalize their experience. By introducing a consumer loyalty service across that network, you will boost your corporate mobile app.
Following and keeping a note of the conversion rates of a site or an app of a business firm is the key feature to the company’s improvement and successful growth of commerce statistics. It is crucial to learn about the number of consumers or customers visiting the mobile app or the desktop traffic it is gathering or the smartphone users and how many of them are converting and purchasing goods or services from the app.
This can help us determine productivity and implement new strategies and tactics to increase conversion rates. It can assist us in following the latest trends and increase mobile shopping statistics or eCommerce sales stats.
If the numbers are too low, then we need to understand that the process or tactic is going all wrong and correct the strategy to increase the conversion rate funnel. This can be applied to all consumers of mobile phones and smartphones who access companies or online stores through mobile sites or mobile apps.
How to use it?
The conversion rate of smartphones is 1.56 percent, and the conversion rate of tablets is 3.71 percent, which is more than double compared to smartphones. Among the users of smartphones and tablets, tablets’ conversion is greater than smartphones in the US. Traditional usage methods exceed smartphones and tablets rate.
Although the precise explanation for this is open to interpretation, a typical culprit is a long or cluttered copy, mainly when there is little real estate on a smartphone screen. It can be a major aid to improve mobile conversion rates by minimizing the “knowledge dump” and simplifying the interface.
53 percent of the US population owned a tablet as of 2018 reports, which are more than half of the whole. As of February 2018, almost all consumers of the US, which is 95 percent, owned a mobile device of some kind. And 77% possessed a mobile, which was a massive rise from just 35% in 2011.
For an app, eCommerce sales site owners should expect a far better conversion rate than for mobile websites. Shoppers are converting at a 14 percent higher rate, suggesting there’s much more room for sales. These numbers clearly show the increasing significance of providing an app for eCommerce sales stores. Although it will entail a substantial investment, in the long term, it is generally worth it.
Shopping cart abandonment rates
As the conversion rates increase, mobile apps’ cart abandonment rates tend to decrease tan desktop sites and mobile websites. Reports claim that the average cart abandonment rates of mobile apps are 20 percent and the cart abandonment rate of desktop sites is 68 percent. The highest cart abandonment rate is generated by a mobile website, which is 97 percent.
Mobile sites have the highest cart abandonment rates of all three. The reason for mobile apps’ low cart abandonment rate is the same as its high conversion rates.
Mobile shoppers or tablet users prefer apps because mobile sites often have lengthy processes before checking out, and it takes much longer. After an item is added to the cart, the site asks to input all of their information like name, phone number, billing address, shipping address, email id, etc., and this takes time.
That’s a lot of details to type on a mobile screen. There is a risk that they will make a mistake and have to start again, particularly though someone tries to go through this process. But on smartphone applications, all this information is saved, meaning there is less friction. Users with the mobile app have the option to check out with just a few taps. That is the reason why people prefer mobile shopping apps over websites.
How to use it?
Smartphones or tablet owners favor applications because mobile pages also have complicated procedures before checking out, and it takes much longer. After an object is attached to the cart, the site requests all of its data such as name, phone number, billing address, mailing address, email I d, etc., to be entered, and this takes time.
That’s a whole lot of information to type on a smartphone phone. There is a danger that they will make a mistake and have to start again, particularly if someone is learning to go through this phase. But all this material is stored on mobile apps, ensuring there is less pressure. In only a few clicks, users with the mobile app have the option of logging out. That is why individuals choose applications for mobile shopping over websites that can be accessed in one click.
A big problem for e-commerce platform operators is shopping cart abandonment. Although the abandonment rate for laptop users is approximately 73 percent, it is considerably higher at 85.65 percent for smartphone users.
Using a mobile, people are generally more likely to leave a shopping cart than on any other device. This is because Sites are not mobile-friendly, which means they leave consumers with a clunky, glitchy checkout experience that keeps consumers racing. Tablet users have a marginally lower risk of abandonment at 80.74 percent when compared to smartphone users.
Reports claim that a maximum time of 90 percent, is spent on apps, whereas a very low amount of 10 percent is spent on sites or web browsers. According to JMango 360,” Mobile app consumers spend an average of 201.8 minutes a month shopping compared with 10.9 minutes a month for internet users.”
Average order value
Above mentioned eCommerce stats or mobile commerce sales or mobile shopping statistics by mobile users or desktop shoppers have proven that mobile app for online shopping or any kind of services has higher rates of conversion and a very low rate of cart abandonments when compared to sites or web browsers.
Mobile commerce purchases or mobile shopping figures by mobile users have demonstrated that smartphone applications for online shopping or service have higher engagement rates and low cart loss rates relative to websites or web browsers.
The global retail average order value index shows the money spent by people on different platforms, which is nearly 92 dollars on mobile websites, 100 dollars on desktop, and 102 dollars on mobile apps. The rate of the order value on mobile apps is 10 percent higher than that of mobile websites.
If you want consumers who convert at high prices and invest more money, you’re certainly going to want to use a smartphone app to your benefit. It’s a winning recipe to accelerate business growth.
How to use it?
Mobile Shoppers Double Smartphone Sales Than Mobile Web Purchases. What is also fascinating is the actual sales amount that applications produce as opposed to the mobile network.
One unique study showed that consumers made 108 percent more sales using smartphones than they did on the mobile site during the 2017 holiday season.
Mobile eCommerce platform owners should predict a significantly better market share rate for the app at one click than with the mobile web. Shoppers are converting at a 14 percent higher rate, which means that there is far more room for sales. These numbers clearly show the increasing value of providing an app for mobile eCommerce stores. While it will take a significant amount of money, it is generally worth it in the long run.
The other important thing that needs to be considered to increase the order value is to decrease the time in the purchase process.
When a customer is at the end of purchasing something and then comes to know that the purchase process takes longer and requires details and information which need to be entered, the chances are that he changes his mind and gets diverted. So it is essential to avoid too many steps in the process of purchasing to increase the order value significantly and that, as a result, increases mobile commerce sales or m-commerce and also makes mobile payments faster and helps mobile users in getting their purchases quickly done on their shopping apps on a mobile device.
As long as the purchase process is made short and is limited to a few steps, then the increase rate in purchases would be 58 percent. The quick mobile payment processes can also help in improvement.
Mobile commerce sales by devices
Mobile devices are not built on a single criterion and may vary. Consumers have varying consumption statistics and buying patterns depending on the type of computer they use.
Let’s compare a couple of the various devices to show you what I’m talking about. You will use this information to reach the consumers differently, depending on what they are using. This factor plays a crucial role in deciding the improvement or growth of mobile commerce or m-commerce. Mobile users prefer mobile devices with mobile app features to make purchases easy and more straightforward and make mobile payments faster.
How to use it?
Smartphone vs. tablet
Users of smartphones use their desktops or computers differently than users of laptops. When it comes to mobile trading shares or m-commerce shares or compare prices, we have to agree that smartphones of all mobile devices are doing great and showing impeccable results.
It is now known that for a fact, smartphones of all mobile devices generate or produce more m-commerce sales. This has been the situation for the past three years, and the numbers have grown greatly last year and continue to grow by generating significant revenue and satisfying the internet users and improving the eCommerce industry.
All these statistics do not mean that devices like tablets and tablet users should be neglected; if that happens, then there will be a considerable drop in e-commerce sales. It is because mobile tablet users contribute and account for the generation of total e-commerce sales in mobile devices and should be considered while designing sites or applications. It is also important for us to consider and understand the effects of screen size and screen resolution and plan designing apps as per that.
Personalization has been a huge part of delivering a good customer experience in recent years and is something that many users have come to expect. And smartphone apps are no exception to that. 61 percent of mobile consumers claim that personalized offers, including related items depending on what a shopper has recently bought, make them more likely to buy from an e-commerce brand.
Android vs. IOS
There is also an essential factor when it comes to Apple device users and android device users that they behave differently. The m-commerce statistics will also be affected based on this.
Mobile commerce is affected because of the different spending habits of the two camps and many companies, or business does not seem to show much interest in these statistics, but in reality, it is crucial to make a note on these statistics of apple devices and android devices mobile users and how they affect the mobile commerce and take necessary steps and tactics to improve.
It is important to know the statistics of the average amount spent per transaction or the mobile payments for shopping or other purposes by each device user. Apple Pay users spend nearly 3 times the amount spent by android users as per recent statistics and reports.
There is something you need to hold in mind when you decide if you want to start your iOS or Android app first. There are more Android users worldwide, but more money is invested in Apple users. With this in mind, you won’t need to think about which application to create first, whether you grow a hybrid app or a radical web app. This offers you the chance to open both the Apple App Store and the Google Play Store concurrently.
We have covered almost all the essential statistics of eCommerce and other data, which can widely influence online retailers and business firms’ growth. The critical takeaway of this is that the trends mainly need to focus on mobile internet users to generate significant revenue.
Mobile websites or web browsers can help in improvising the growth of e-commerce. Thus, to uncover the maximum potential of a company or a firm and attract potential customers, it is vital to develop an app that works using a mobile.
These days shoppers or mobile payment users search and use mobile to make the purchasing process simple and easy. This is also increasingly mobile sales, and mobile shoppers have the opportunity to share and compare prices of products and can make good deals.
Along with mobile sales, mobile banking is all the rage, too, and mobile banking allows people to share and accept transactions with a single touch. It is entirely made clear by sales in 2019. The previous five years and even more than the shoppers and number of mobile users for different purposes, including mobile banking, have grown drastically.
In the last five years, the number of users of the shopping app and the people using mobile devices for various mobile payments and m-commerce purposes has increased like never before.
The thing to notice is that shoppers prefer shopping apps over a website, and that brings a higher number of conversion rates and lower cart abandonment rates for apps. So those who got familiarized with the importance of the number of mobile users and online shoppers can take a look at the statistics once again and move forward to take the first step to improve their m-commerce as it is high time.
Developing or creating an app for the first time might sound pretty intimidating but can be easy as the process goes, and there are many sources to help in the custom building of apps that you can consult.