E-commerce is a massive industry that is constantly evolving and trending upwards. One of the most significant factors in this trend has been the enormous growth in mobile commerce, or m-commerce for short.
The benefits of m-commerce cover everything from easy customer access to more online traffic and beyond.
As more companies begin to understand the need for simple, clean mobile experiences, m-commerce statistics are proof of the financial and branding benefits it can have on a business.
What is the Difference Between E-Commerce vs. M-Commerce?
Before diving into the stats and benefits of m-commerce, let’s chat about how it is different from e-commerce.
While e-commerce covers all aspects of buying and selling via any online channels, m-commerce is considered any transaction conducted on mobile devices like smartphones and tablets.
In short, all m-commerce is considered e-commerce but not all e-commerce is considered m-commerce.
M-Commerce Growth Statistics
Back in 2016, m-commerce already made up over half of worldwide e-commerce transactions at 52.4%. This percentage saw dramatic growth in only a few years, reaching 67.2% in 2019. M-commerce is expected to rise even higher, with projections to reach nearly 73% by the end of 2021.
The growing number of worldwide m-commerce sales has converted into a massive increase in dollar amounts between 2019 and 2021. The amount was already staggering in 2019, with total sales reaching $2.32 trillion. As of now, experts predict that number will get above 3.5 trillion in 2021.
When it comes to specific numbers in the United States, mobile commerce sales are expected to rise from $207.15 billion in 2018 up to $345 billion in 2021.
Benefits of M-Commerce
There is a growing need for e-commerce websites to ensure they offer mobile responsive features. Without this functionality, companies could be missing out on access to hundreds of millions of potential customers. The advantages of m-commerce extend to a wide range of factors that could lead to more sales and higher engagement.
- Easy Shopping Access for Customers
The most obvious benefit of using m-commerce is that more than 294.15 million people in the United States own a smartphone. A considerable portion of these individuals uses their mobile devices to shop online due to the convenience and 24/7 access.
Consumers can access m-commerce sites using nearly any type of mobile device, including:
- And some mobile gaming devices
- Incredible Customer Experience (CX)
A positive customer experience is becoming more important than ever as consumers are no longer only looking for the best price as the end-all for their purchases. People are becoming more interested in brands they can be loyal to and enjoy multiple aspects of what the company offers.
Clean and efficient mobile websites are a significant contributing factor to the overall CX for people who visit your online store.
- Strong Return on Investment (ROI)
Creating a mobile-responsive e-commerce website isn’t always expensive, but it does require an initial investment to get set up. When used correctly and marketed well, your website has the potential to provide a strong m-commerce ROI which means more money in your pocket.
- Traffic from Other Mobile Channels
When it comes to m-commerce, one of the greatest advantages is being able to send people straight to your website from other mobile apps. You can use paid ads on platforms like Facebook or Instagram to instantly send users straight to a page where they can make a purchase.
People spend more than two hours per day on social media channels using smartphones, making them a great place to drive traffic to your m-commerce site.
Is Your Site M-Commerce Friendly?
Up to 90% of online shoppers say their mobile commerce shopping experience could be better, which leaves a lot of room for improvement across nearly every industry. Getting assistance with your m-commerce website is a great way to enhance customers' loyalty to your brand and make them more likely to make a purchase.
Mobile shopping isn’t going anywhere, and it’s time to make sure you are taking full advantage of this great marketing and conversion tool. Find out how you can boost your e-commerce sales today by reaching out to ScaledOn at 603-392-7004!