What are the statistics of Mobile commerce?
By
Avantika Shergil
|
Oct 13, 2023 |
E-Commerce
Mobile commerce is the need of the hour as the shoppers’ behavior has changed drastically after the pandemic. Almost all businesses have moved their products and services online to reach the remotest possible customer prospects. Enterprises without mobile commerce are lame and will linger to success with no guarantee whatsoever.
On the other hand, if you are an enterprise and carefully think and learn from mobile commerce statistics, you have fairer chances to implement the best mCommerce strategies into your business which assures victory.
Let us see what statistics are trending for mobile commerce now and in the future:
Table of Contents
Growth in mCommerce
Below are some estimated stats that are expected for growth in mCommerce:
It is projected that mCommerce retail sales in the United Kingdom will attain a value of £105 billion by 2024.
Anticipated data suggests that the UK’s mobile consumer expenditure will surge 181% by 2025, surpassing the growth rates of France (170%) and Germany (164%).
In January 2021, there was a substantial 74% year-on-year increase in online sales in the United Kingdom.
Mobile payments and banking
Here are some stats for mobile payments and banking:
Mobile payments are anticipated to take over from debit cards as the preferred payment method in the United Kingdom by 2022.
A significant 74% of the population in the UK utilizes mobile devices for financial management.
Unsurprisingly, the age group of 18 to 23 years old in Generation Z, which is internet adept, used mobile and digital payments at the greatest rate in 2020.
Shopping
Below are some data insights into the mobile shopping industry:
Among all internet shoppers in Europe, the United Kingdom boasts the second-highest percentage of mobile shoppers at 66.7%, trailing only behind Germany.
There is a big market: British consumers took the lead in total expenditure in 2020. They spent a remarkable $2.9 billion, surpassing the German ($2.8 billion) and French ($1.7 billion) counterparts.
Amazon emerges as the top choice among mCommerce buyers regarding websites visited.
On Cyber Monday in 2018, a substantial portion, equivalent to $2.2 billion, out of the total expenditure of $7.9 billion, was attributed to smartphone transactions.
Avantika Shergil
| Oct 13, 2023
Avantika Shergil is a technology enthusiast and thought leader with deep expertise in software development and web technologies. With over 8 years of experience analyzing and evaluating cutting-edge digital solutions, Avantika has a knack for demystifying complex tech trends. Her insights into modern programming frameworks, system architecture, and web innovation have empowered businesses to make informed decisions in the ever-evolving tech landscape. Avantika is passionate about bridging the gap between technology and business strategy, helping businesses build customized software and website, and understand about different tools to leverage effectively for their ventures. Explore her work for a unique perspective on the future of digital innovation.
