The last few years were a time when the mobile commerce (mcommerce OR m-commerce) industry witnessed a kind of unprecedented growth. According to App Annie’s State of Mobile 2019 report, the total time mobile users spent in shopping apps was 18 billion hours in 2018 ; and Cyber Monday alone generated $2 billion dollars , over half of which came from mobile devices. These are all promising statistics that might nudge your business in a more proper direction, and there’s plenty more where that came from:
Statistics of Mobile Payments
- While mobile wallet payments only amounted to $75 billion in 2016, they are forecasted to grow to $500 billion by 2020 – or about 80% over five years. 
- According to Worldpay’s 2018 Global Payment Report the use of mobile payments is set to continue its inexorable rise and become the second most common payment method after debit cards by 2022. 
Mobile payment is expected to replace credit and debit cards after decades of being the preferred method. This, of course, shouldn’t come as a surprise for you since mobile payment has the advantages of being quick, wireless and effortless.
All you’d ever need to carry along with you is a smartphone with 3G/4G connection and you’re good to go.
Statistics of mCommerce Retail
- By 2021, the world’s m-commerce sales will make up for 53.9% of all e-commerce sales. 
- The worldwide m-commerce share in e-commerce is expected to reach 72.9% globally by 2021. 
The mCommerce world is growing at such a rate that’s never seen before. Marketers are now expecting mCommerce to be the main channel for online shopping since as much as 87% of shoppers engage in online product search before buying.
Statistics of App Users Patterns
- 77% of US consumers use their mobile devices in stores to compare prices. 
- 71% of in-store shoppers who use smartphones for online research say their device has become more important to their in-store experience. 
As the mCommerce grow in its market share, it’s becoming increasingly important for eCommerce store owners to make their store responsive to all kinds of screens and devices. And while smartphones are becoming the main devices for browsing of products, it’s still not delivering adequate conversion rate compared to tablets and desktops.
Statistics of Mobile Search
- Mobile is the dominant platform for searches with 48% of buyers using a smartphone to start searching with a search engine. 
- 58% of Google searches are done via mobile devices. Only 5 years ago, the figure was nearly half of that (34%). 
- 65% of clicks on paid Google search results come from mobile devices. 
- 42% of mobile-driven brand interactions involve Google search. 
- 88% of consumers who search for a type of local business on a mobile device call or go to that business within 24 hours. 
- It is expected for mobile searches to stay relevant for quite awhile since the world is demanding a need for convenience that desktops and bigger types of devices can’t meet. In 2019, global website traffic share for mobile is leading with a share of 53.29%—almost 10% above its predecessor. This means that the majority of your customers are now mobile-based and thus, to drive your mCommerce success, it’s important that you understand and master mobile SEO practices for an easier time of getting on top of Google SERP. 
The Latest M-commerce Statistics
- Global mCommerce revenue is expected to reach $3.56 trillion by 2021 – with an average y-o-y rate of 33.8% 
- 67% of the global population owns a mobile phone in 2019. 
- 79% of smartphone users have made a purchase online using their mobile devices in the last 6 months. 
- Smartphones will make up 34% of all U.S eCommerce sales in 2019. 
- The share of mCommerce in all e-commerce is expected to rise to 72.9% by 2021. 
The time for Mobile Commerce is now and it’s critical. Every day you’re not implementing the best approaches in your store is potentially thousands of dollars lost.
For instance, a retailer with annual revenue reaching up to $20 million could see a $1.4 million loss in revenue simply by delaying their implementation of Progressive Web Apps (PWAs) for 1 month, and another $6.8 million if they decided to delay it for six months. PWAs are essentially a free revenue boost to businesses, which is why it’s the current trend among eCommerce retailers to mass adopt PWAs into their business, making it the new go-to approach for developments of responsive, mobile-first online stores.
Recommended reading: What is a PWA?
It is thus that you should always try to keep up with the industry and find out for yourself which current practices are the best and most suitable for your business. Your new initiatives, of course, should have statistical data in mind and not rely solely on a hunch.