We are seeing a notable growth in the m-commerce in last few years. Recent surveys predict that m-commerce will make up 45% of total online commerce by 2020, equaling $284 billion in sales. That is more than 3X the 2016 figures. The worldwide annual mobile growth has been vital in recent years with downloads reaching the $224 billion mark in 2016, with a revenue of $58 billion.
There are more than 2.6 billion smartphone-users over the world. More than 2.8 millions of Android apps and 2 million of iOS apps are available on respective stores. 85% of Millennials own smartphones, providing a large audience to businesses which have plans for m-commerce application development.
There are others convincing statistics.
- 88% of consumers, who search for a type of local business on a mobile phone, call or go there within 24 hours.
- More than that, 82% of smartphone-users say they consult their phone during shopping in a physical location.
- 1 out of 4 users would return if they receive exclusive or bonus content.
- Every 2nd app user uses app to find information about a business or product or to make a purchase.
- 2 in 3 people will use an app frequently if it simplifies their lives.
Smartphones are entering more deeply in other industries in which there were fewer apps available so far. 30% of users (40% of travel apps and 47% for retail apps) say that they would start using an app again if they are offered a discount or coupon offer. An average of 36 apps is being installed on smartphone. 253.9 billion Free apps and 13.49 billion paid apps are available on the stores
As far as smartphone penetration is concerned
- South Korea has highest number of people – nearly 88% or 26 million of population – using smartphones.
- Australia comes second with 23 million or 77% million of total population using smartphones.
- In UAE, 75% or 6 million of total population is using smartphones.
- 74% or 23 million of Israelis use smartphones.
- In U.S., 72% or 235 million of total population use smartphones.
- In Spain, 71% or 49% million of total populations use smartphones.
- 67% or 35 million of Canadian population uses smartphones.
- 18 million or 65% of total population in Chile use smartphones.
- 31 million or 65% of Malaysians use smartphones
- As of 2017’s prediction, 64% of North Americans, 65% of Western Europeans and 13.65 of Middle Easterns and Africans use smartphones.
M-commerce app development is almost unavoidable for businesses operating online. People from all segments now rely on smartphones for most of their requirements. Weekly mobile product purchases confirm it.
- generation Z – 40% –
- millennials – 49% –
- generation x – 26% –
- baby boomers – 18% –
- Silent generation 4%
Sofia is a digital marketing expert in Mobilmindz, a prominent mobile app development company which provides iOS and android app development services across the globe. He loves to write on latest mobile trends, mobile technologies, startups and enterprises.