M-commerce or (Mobile Commerce) is now taking up larger slice of online retail space. Reason, 1 out of 4 people now use a Smartphone worldwide. This ratio is high in well developed countries. According to studies, "55% people use mobile phones to browse online retail stores or sites. That's why nowadays mobile device penetration is on the rise and your site needs to be ready to take advantage of this new opportunity.
Mobile devices have changed the way people research, browse, buy, and transact on the Web. Here are some stats from throughout the world that will help you to understand mobile commerce landscape.
- Mobile web adoption is growing 8 times faster than web adoption did in the 1990’s and early 2000’s.
- 59% of U.S. Smartphone owners or users use their devices to research an item before purchasing it as compared to tablet owners.65% tablet owners use their devices to research an item before purchasing it.
- Mobile devices will account for 30 percent of global retail e-commerce spending by 2018, up from 15 percent in 2013.
- In 2013 “Cyber Monday” saw retail sales by mobile and tablets approach $400 million in the U.S. alone.
- You can guess the importance of ecommerce on mobile devices is by the fact that 35 percent visitors of the most popular e-commerce websites browse Web sites by mobile devices.
- According to Statistics," By the end of 2017, U.S. mobile users will spend $90 billion via mobile payments, a 48 % increase over the $12.8 billion spent in 2012".
- You can pay any of your payment by mobile phone easily. 50% of current Smartphone users say they will use their mobile wallets for daily transactions as early as 2016.
- Tablet transactions topped $28 billion in 2013.
- 75% mobile shoppers redeemed a coupon from their mobile devices in 2013. Nowadays, 80.4% mobile shoppers said their perception of a retailer would improve if the retailer offered mobile deals and coupons.
- 80 % mobile users’ purchasing decisions are influenced by the mobile channel, even though they may not use their devices to complete the final purchase.