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Mobile Commerce Statistics and Trends You Should Know in 2024

Regardless of your role in the mobile commerce ecosystem – a merchant, app owner, consumer, marketer, or simply a curious mind – you're aware of the fact that the marketplace moved to mobile. To put in perspective how significant this migration to mobile devices really is, we gathered the most compelling mobile commerce statistics and trends.

Mobile commerce statistics: General

86.34% of the world's population owns a smartphone in 2024.

This translates to 6.94 billion smartphones. The information alone indicates the potential that mobile commerce holds. Local businesses can easily go global and reach audiences that, until yesterday, seemed to be out of reach.

The current mobile commerce share within e-commerce sales is 72.9%.

Roughly three-quarters of all online transactions are made with a mobile device. This means that the audience is well-adapted to the mobile commerce landscape. Business owners can only expect higher numbers in the foreseeable future.

It is expected that smartphone commerce will make up 44% of all e-commerce sales in 2024.

Smartphones are anticipated to remain the primary channel for mobile commerce, accounting for more than half of all m-commerce sales in 2024.

Europe and North America will be the frontrunners in mobile commerce revenue between 2020-2025.

North America and Europe will bring the most profit for mobile commerce in terms of revenue. HOwever, Asia-Pacific and the Middle East will contribute by bringing new users to the market.

Global mobile commerce market size is projected to reach $558.29 billion by the end of 2024.

This suggests that global m-commerce sales have doubled since 2019.

Mobile commerce statistics: User behavior

Four out of five smartphone users made a purchase on their mobile device in the past six months.

It shows how new users quickly adapt to the mobile commerce mechanism. Also, its convenience quickly converts them to go mobile in regards to online payments and purchases.

75% of smartphone users make purchases using their mobile phones.

Customers state that mobile shopping saves time and provides convenience in terms of reacting in real-time. However, 90% of users acquainted with mobile commerce mobile  claim there is room for improvement in terms of user experience. 

67% of customers use mobile for window shopping.

The good news for business owners is the fact that 77% of customers who are browsing for fun end up with an actual purchase. An effective SEO strategy for mobile can help you capitalize on these impulse purchases.

51% of mobile shoppers use mobile apps to make purchases.

In terms of mobile commerce, shopping apps are the preferred option by the public; compared to responsive websites optimized for mobile. Consumers state that the user experience is more streamlined due to easier navigation and the personalized approach an m-commerce app holds.

70% of mobile searches end up with an action within a single hour.

For desktop searches, the time to purchase is around 30 days.

Mobile commerce statistics: Challenges

The average cart abandonment rate for mobile is 76.59%.

This information points out that there is still a lot of room for improvement. Revisiting your checkout process from the customer's perspective, offering a variety of payment options, as well as assuring smooth yet secure online payments. These are the key points that need your full attention.

Only 12% of mobile shoppers would describe shopping on responsive mobile websites as ''convenient''.

Intrusive pop-ups, small fonts, unintuitive checkout process, sketchy redirections, and unresponsive design is what can make a mobile web store a user experience disaster. If you're faced with and aware of such issues, optimize your webshop for mobile, having the mentioned issues in mind.

Mobile shoppers are 60% less likely to pay a future visit to a web store in case they had a bad experience in the past.

You get no more than one chance to impress your first time visitors; all while keeping your returning customers satisfied as well. 

42% of customers express concerns in terms of security when shopping on mobile.

To bypass this issue, implement online payment security solutions that assure the security of your customer's transactions while securing your brand reputation.

eCommerce Apps Guide: Striking a Balance Between Security and User Experience

As a dedicated guide for eCommerce app owners and merchants this eBook covers m-commerce security best practices and provides turnkey solution for in-app payments security. 

To find out more about Trides2 portfolio, contact us or visit our blog section.  

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