Mobile e-commerce is becoming an important channel of retail for various businesses. Mobile devices such as smartphones and tablets are changing e-commerce, and the many creative and useful mobile apps available now encourage the new trend.
Mobile E-commerce Grabs Big Chunk of Online Retail
According to the latest data by Critea, the U.S. mobile shopping market could constitute a significant 33% of all retail transactions by the end of 2015. The survey was conducted based on 1.4 billion transactions amounting to annual sales of over $160 billion. In the initial three months of 2015 alone, mobile retail transactions grew by 10%. In countries such as Japan and South Korea, over 50% of ecommerce transactions were conducted on mobile.
Interestingly, a study by Custora in 2014 also revealed a strong start for the mobile e-commerce industry that year. Hereâ€™s a comparison of the retail market share of mobile shopping in the last quarter of 2014 and first quarter of 2015 as compiled by Critea:
- Mobile accounted for 27% of US e-commerce retail transactions in Q4 2014. By Q1 2015 the share had increased to nearly 30%
- Mobile share in the e-commerce transactions rose to 38% for top quartile retailers in Q1 2015
Key Points Highlighting Growth of Mobile Shopping
The Custora report also highlighted other key points:
- 36.9% of visits to online stores came from mobile devices, and that is up from 3.4% at the beginning of 2010.
- Nearly 25% of e-commerce site visits in the U.S. came from smartphones, up from approximately 18% for the year 2013.
- Twelve percent of e-commerce site traffic was from tablets, compared to just 9% in 2013.
- Amazon has also quickly become a player, with purchases made on Kindle Fire tablets now accounting for 4.5% of all tablet orders.
- Email marketing generated 26.7% of sales on mobile phones, compared to only 20.9% on desktop, and 23.1% on tablet.
- Social media accounted for only 0.6% of sales on phones and 0.2% on tablets.
If anything, the surveys in 2014 and 2015 only prove that mobile e-commerce is steadily rising in importance, and could soon topple desktop or laptop-based retail transactions in the US, as it already has in South Korea and Japan. This, plus Googleâ€™s Mobilegeddon update should give you all the motivation and sense of urgency required to make your e-commerce site mobile-friendly.