Mobile ecommerce, also known as m-commerce, has been on the rise in recent years and is expected to continue growing in 2023. Here are some of the latest revenue, usage, and statistics for mobile ecommerce:
- Revenue: According to Statista, mobile ecommerce revenue is projected to reach $3.56 trillion worldwide in 2023, up from $2.91 trillion in 2021.
- Usage: In the United States, mobile ecommerce is becoming increasingly popular. According to eMarketer, mobile ecommerce sales in the US are expected to reach $486 billion in 2023, up from $364 billion in 2021. Additionally, a survey by Bizrate Insights found that 79% of US smartphone users have made a purchase using their mobile device.
- User demographics: Mobile ecommerce usage is most prevalent among younger generations. A survey by Retail Dive found that 67% of millennials and 56% of Gen Z have made a purchase using their mobile device in the past six months.
- Mobile apps: Mobile apps are a popular way for consumers to shop on their mobile devices. According to App Annie, in 2021, shopping apps saw a 40% increase in downloads compared to 2019. Additionally, a survey by CleverTap found that 67% of consumers prefer to shop using a mobile app rather than a mobile website.
- Mobile payment: Mobile payment options are becoming increasingly popular. According to a survey by PYMNTS.com, 56.9% of US consumers have used a mobile payment app in the past year. Additionally, the same survey found that 43% of consumers would prefer to pay for purchases using their mobile device rather than cash or credit card.
- Conversion rates: Mobile ecommerce conversion rates continue to improve. According to a study by Monetate, the average conversion rate for mobile ecommerce in Q1 2021 was 2.45%, up from 1.82% in Q1 2020.
- Challenges: Despite the growth of mobile ecommerce, there are still challenges to overcome. One challenge is the mobile checkout process, which can be cumbersome and lead to cart abandonment. Additionally, mobile users may be more likely to compare prices and research products, leading to less impulse buying.
Overall, mobile ecommerce is expected to continue to grow in 2023, driven by increased smartphone usage and the convenience of shopping on mobile devices.
