The Internet has become our basic need to get in touch with our friends and obtain any type of information. Rather than the desktop computer, now people can easily use the internet on their mobile phones. Over 1.2 billion people are now using smartphones to access the internet and they also do online shopping from their phones. It means mobile commerce is becoming a big part of eCommerce because 60% of customers now search products on the internet first before buying them. In addition to it, 76% of mobile users also search the neatest stores by using their smartphones.
About 33% of total e-commerce comes from smartphones and rest of the people use other devices. If we have a look at the stats of last two years, specifically of Asia, mobile commerce has increased up to 250% which is a remarkable growth. In US, m-commerce brings in about $100 billion per year and is expected to increase in the near future.
More than 50% of smartphone shoppers rely on the digital wallet for online purchasing like PayPal, Google wallet etc. because it is very easy to pay from digital wallets and takes a few seconds. The total of eCommerce payments, 19 % are done through smartphones and by the year 2018, it is expected to incline up to 27%.
If we compare different smartphone operating systems, we observe that iPhone generates more conversion value of $117.6 than Android ($111.7) and windows ($100.91). It means most of the mCommerce conversions take place through iPhone and Android. On Cyber Monday, about half a billion in sales comes from m-Commerce and it is expected that in the US, more than $90 billions of sales will be driven by mobile commerce in 2018.
If we have a look at the top eCommerce websites, customers spend the most time on Amazon (100 Min) rather than Target (20 Min) and Walmart (14 Min). Furthermore, customers come back to Amazon 6 times per month which is higher than Target and Walmart. In 2020, 45% of eCommerce will be done through m Commerce. Some more useful insights about mobile commerce are documented in the following infographic that is compiled FME Addons.
Infographic by – Fme Addons
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