What are the statistics of Mobile commerce?

Avantika Shergil By Avantika Shergil  |  Oct 13, 2023  |  E-Commerce
Mobile commerce statistics

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:

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.

Mobile Commerce Trends to Watch for

Avantika Shergil Avantika Shergil   |  Oct 13, 2023

An enthusiastic Operations Manager at TopDevelopers.co, coordinating and managing the technical and functional areas. She is an adventure lover, passionate traveler, an admirer of nature, who believes that a cup of coffee is the prime source to feel rejuvenated. Researching and writing about technology keeps her boosted and enhances her professional journeying.

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