m-Commerce Statistics

The fact that world commerce is moving to your smartphone isn’t something new and doesn’t matter whether you are a business owner, a marketer, a techie, or a general consumer. With mobile technology advancing rapidly, mobile commerce is on the march. Whenever shoppers are gripped with the impulse to buy, they turn to their mobile devices first. With easy access to devices with extensive features and data plans, users are now finding it easier than ever to shop on mobile.

In this article, we bring to you the most recent m-commerce statistics. from market size to forecast growth to insights into different branches of m-commerce such as mobile shopping, payments, and banking. Let us dive into the article right now!

On this page, you’ll find:

• General m-Commerce Statistics
• m-Commerce Market Share and Size
• Mobile Phone Statistics
• Shopping Apps Statistics
• m-Commerce Payment Statistics

Key m-Commerce Statistics:

Here is a list of the top 10 statistics from this article:

• In 2021, m-commerce sales are set to reach $3.56 trillion. (Statista)
• 67.2% is the global share of m-commerce in e-commerce. (Oberlo)
• By 2022, the e-commerce market is expected to grow to $845 billion, 50% of which will be driven by mobile commerce sales. (Forbes)
• Reaching $284 billion, m-commerce will comprise 45% of the total U.S. e-commerce market. (Business Insider)
• Globally, there were 5.11 billion unique mobile users in 2019, of which 2.71 billion of them used smartphones. (Data Reportal)
• A smartphone is owned by 81% of Americans. (Pew Research Center)
• Amazon is regarded to be the most popular shopping app in the U.S. (Statista)
• Just for fun, 67% of customers window-shop online. (Pixel Union)
• By 2023, the global mobile payments market will have a compound annual growth rate (CAGR) of 33% to reach $4,574 billion. (Allied Market Research)
• By 2022, the global mobile wallet market size is expected to reach $3142.2 billion with a 32% CAGR. (Zion Market Research)

General m-Commerce Statistics

          For those of you wondering what mobile commerce or m-commerce is, it is nothing but the buying and selling of goods through a mobile device like a smartphone or a tablet. With the increased adoption of mobile devices and apps that make mobile shopping easier, m-commerce is poised to take off in the next few years. It is expected to grow at double-digit rates until 2024. Let us first look into some of the general m-commerce statistics.

• In 2021, m-commerce sales are set to reach $3.56 trillion. (Statista)
• 67.2% is the global share of m-commerce in e-commerce. (Oberlo)
• By 2025, the global mobile coupon industry is forecast to grow to 56.5% (Sleek Note)
• At the end of 2020, Augmented Reality (AR) accounted for about $120 billion in sales in m-commerce. (Pixel Union)
• In 2019, 67% of the global population owned a mobile phone. (Statista)
• Between 2016 and 2021, mobile data traffic around the world is projected to increase by 700% (Marketing Land)
• In terms of the number of transactions, 40% of e-commerce is mobile. (Think with Google)
• In the last 6 months, 79% of smartphone users have made a purchase online using their mobile device. (Outer Box)
• Compared to total digital spend, about $1-$3 is spent on mobile commerce. (Comscore)
• For apps in the Apple app store, mobile apps consumer spend is expected to reach $92 billion, and for apps, in Google Play it is expected to reach $50 billion in 2021. (Sensor Tower)

m-Commerce Market Share and Size

          The m-commerce market is all set to be driven by the rising penetration of smartphones, the internet, the adoption of smartphones for online shopping, as well as banking payments. Technological advancements made in wireless handheld devices have given us the benefit of great computing power which in the forecast period will further enhance the overall market demand for m-commerce. In this section, we shall look into some statistics on them-commerce market share and size.

1. By 2022, the e-commerce market is expected to grow to $845 billion, 50% of which will be driven by mobile commerce sales. (Forbes)
2. Reaching $284 billion, m-commerce will comprise 45% of the total U.S. e-commerce market. (Business Insider)
3. In Q4 2017, mobile commerce accounted for about 24% of digital commerce spending. (Statista)
4. China ($0.75 trillion), the U.S. ($0.21 trillion), the U.K. ($63.8 billion), Japan ($34.5 billion), and South Korea ($28.8 billion) are the top m-commerce markets. (Magneto)
5. In the U.S., m-commerce accounted for 33% of total digital commerce dollars from July to August 2020. (Comscore)
6. Mobile e-commerce spending in the U.S. amounted to $47.8 billion in 2020. (Comscore)
7. There are an estimated 788 million mobile commerce users in China. (Statista)
8. The ones with the most rapid e-commerce growth are categories with the highest mobile share of purchases. (Comscore)
9. At the end of 2019, the number of mobile coupon users worldwide was projected to exceed 1 billion. (Invesp)
10. In 2019, retail m-commerce sales in the U.S. reached $388.02 billion. (eMarketer)

Mobile Phone Statistics

          When was the last time you spent your day without using your mobile phone? Maybe, an eternity ago? Such is the necessity and importance of having a mobile phone. That is why it is important for businesses to have a piece of sound knowledge as to how consumers are using their mobile phones these days. In this section, we share with you a glimpse of mobile phone statistics.

• Globally, there were 5.11 billion unique mobile users in 2019, of which 2.71 billion of them used smartphones. (Data Reportal)
• A smartphone is owned by 81% of Americans. (Pew Research Center)
• The country with the highest number of smartphone users is China with more than 782 million smartphone users. (New Zoo)
• Smartphones are owned by 94% of people aged between 18-29, while 6% have regular cell phones. (Bank My Cell)
• On a mobile device, 70% of web traffic happens. (CIO Dive)
• In the mobile search results, 85% of all pages are labeled as mobile-friendly. (Medium)
• More than 4.5 hours a day is spent by the top 20% of smartphone users on their devices. (Rescue Time)
• 89% of mobile media time is accounted for by apps, while the remaining 11% is spent on websites. (Blue Corona)
• Negatively affecting their quality of sleep, 99% of people still use their phones as alarm clocks. (Bagby)
• With a global market share of 20%, Samsung remains the leading smartphone maker worldwide. (Business Tech)

Shopping Apps Statistics

          Shopping apps have become popular among the younger generations these days, especially among Gen Z users. The time spent on shopping apps has drastically increased. Whether you own an online store or are looking to launch a scalable small business, the key to your business model strategy is understanding how internet users shop. We shall now look into some statistics that highlight the trending shopping apps.

• Amazon is regarded to be the most popular shopping app in the U.S. (Statista)
• Just for fun, 67% of customers window-shop online. (Pixel Union)
• Around 4 out of 5 Americans are online shoppers, with more than half of them making purchases using a mobile device. (Pew Research Center)
• After discovering about a product on social media, 55% of consumers have bought it. (Shopify Plus)
• The number one reason for cart abandonment is high shipping costs. (Statista)
• The shopping cart abandonment rates for mobile users is 85.65% (Annex Cloud)
• Through social networks, 43% of global shoppers research products online. (Statista)
• In 2018, 93% of millennials compared online deals using a mobile device. (Ready Cloud)
• In 2018, more than 90% of mobile coupon users redeemed a coupon code. (Credit Cards)
• If purchases can be made quickly, then 58% of smartphone users are more likely to buy. (Think with Google)

m-Commerce Payment Statistics

          To contain the spread of the COVID-19 virus, the use of digital payments is gaining traction spurred by the need for contactless payment options. With certain countries expected to go cashless in the next few years, the adoption of digital wallets is showing great promise. Consumers expect convenience and privacy. For the last section of this article, we shall look into some statistics that highlight m-commerce payment.

• By 2023, the global mobile payments market will have a compound annual growth rate (CAGR) of 33% to reach $4,574 billion. (Allied Market Research)
• By 2022, the global mobile wallet market size is expected to reach $3142.2 billion with a 32% CAGR. (Zion Market Research)
• 35% of mobile wallet usersare comprised of millennials. (Magneto)
• Globally, digital, or mobile wallet transactions comprised 44.5% of total e-commerce transactions by volume. (Worldpay)
• In 2019, 28% of consumers in the U.S. used mobile wallets, up from 22% in 2018. (Vibes)
• In 2019, the proximity mobile payment transaction value in the U.S. was expected to be $113.8 billion. (Tech Node)
• By using a mobile device, 59% of internet users have done online banking. (Global Web Index)
• Mobile payments would be used more frequently by 39% of U.S. consumers if more stores and apps accommodated them. (NFC World)
• Public Wi-Fi (26%), followed closely by lost or stolen devices (21%) is the greatest security vulnerability associated with mobile payments. (ISACA)
• The most compelling motivational factors for making mobile payments were rewards and/or discounts according to 70% of millennials. (The Pew Charitable Trusts)

Conclusion

          The mobile commerce statistics listed in this article predict how m-commerce might soon capture a place for itself as a significant chunk of the e-commerce market. With the increasing mobile device adoption, these forecasts will most likely come to fruition. The adoption of m-commerce into the mainstream is increased by the convenience it offers to consumers to shop, make payments, and do banking transactions while untethered to a stationary device. Businesses need to make use of m-commerce to capture revenue across different demographics.