The firm’s recent study suggests that smartphone based shopping is building a highly positive landscape.
The doubts some are still expressing against the growth potential of m-commerce have another study against them following a new eMarketer mobile commerce forecast. Within the report were the results of a study on the smartphone shopping ecosystem.
While the m-commerce prediction aligns with other research, it also includes some striking insight.
The eMarketer mobile commerce forecast states that by the year 2021, smartphone and tablet based shopping will make up 72.9 percent of the ecommerce market. In 2017, global retail online commerce reached a sizeable estimated $2.304 trillion. That represented a massive 24.8 percent growth over the same total for 2016. Of that figure, mobile commerce comprised over half, at 58.9 percent.
This indicates that eMarketer’s prediction that m-commerce will make up 72.9 percent of online shopping in a few years from now is not at all difficult to believe. Furthermore, since retail sales as a whole have increased, it means that the value of smartphone based shopping will also only continue to rise.
Therefore, the mobile commerce forecast says it will not only grow, but that it will hold up more of e-commerce.
The overall retail sales total worldwide reached $22.64 trillion last year. That was a 5.8 percent increase over 2016. With mobile commerce growing in its share of the e-commerce marketplace and as retail continues to grow in its total size, smartphones are becoming exceptionally important and valuable purchasing tools. In fact, many have suggested that it is already out of the question for businesses to continue avoiding a mobile friendly presence.
Online shopping makes up an estimated 10.2 percent of all retail sales. That represents a growth over 2016 when the share had been 8.6 percent. Even there, it shows that mobile is taking on a larger role in retail as online as a whole is raising its position and mobile is growing its pace within that category.
The Asia-Pacific region is experiencing the fastest rate of growth and is a primary driving force behind the figures leading to the mobile commerce forecast.