What's the Future of Mobile Commerce?
Data is vital! Words can be very effective, but it’s just when they are supported by numbers that they become really powerful. What is the future of Mobile Commerce? Let's have a look at some data!
The answer to this question can be grounded in our day by day experience or it can originate from research and study and be based on data. Our experience can be very truthful…still it’s limited. On the contrary, the more data we collect, the more our answer to the question will be reliable.
So here are some data about Mobile Commerce that I recently learnt about while following aneMarketer webinar (Mcommerce Trends for 2016—Behind the Rapid Growth), held by retail analyst Yory Wurmser.
The above picture shows a comparison between the growth rates of retail sales via Mcommerce and Ecommerce during 2016. Whereas retail sales via ecommerce contributed to the total retail sales growth by 15.7%, the growth of retail sales via mobile commerce was way bigger (46.8%). This first data clearly shows we can expect mobile commerce to keep growing in the next future. The next image takes us a little further, by showing us the growth rate of retail sales registered on smartphones during 2016.
Data shows that in the US, Smartphone Mobile Commerce grew by 74.2% this year. Among mobile devices, smartphones seem to be the preferred choice for retail customers who decide to make their purchases via Mobile Commerce.
Finally, what about conversion rates? Let’s have a look at the following slide.
While mobile websites proved more powerful in driving visits (2.1 times) than mobile apps during 2015, mobile apps were responsible for 54% of mobile transactions in the last quarter of the same year. Last but not least, a comparison between apps and desktops conversion rates highlights that the apps conversion rates revealed 20% higher than desktop ones in the 4th quarter of 2015.
This quick journey through some of the most recent data about Mobile Commerce confirms the growing trends in this field we discussed in this blog post a few months ago. So the answer to the question: ‘What’s the future of Mobile Commerce?’ can definitely be: ‘Mobile Commerce is the future!’ and retail apps will be the key to this process.