MCommerce accounts for 65% of global e-commerce, and more and more people will use mobile phones to shop in the future

2022-11-21
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Author:Blue Ocean Yiguan
Source: egainnews

Seagoing mCommerce accounts for 65% of global e-commerce, and more and more people will use mobile phones to shop in the future

Used worldwidemobile phoneThere are more and more people. According to Visual capitalist, by 2021,mobile connections(Mobile access) is more than the population on the earth. Therefore,mCommerceThe market is expanding rapidly.

It is estimated that by 2025, mCommerce willU.S.AThe market share will double.

IThere are three types of mCommerce

Blue Ocean Yiguan has learned that,MCommerce essentially completes financial transactions on any mobile device. There are three main types:

oneMobile shopping: E-commerce optimized for mobile devices. This includes special shopping apps, websites designed for shopping with mobile devices, and even those with built-in shopping functionsSocial mediaPlatform.

twoMobile banking: Similar to online banking, but usually in the form of a special app for mobile banking, users are allowed to access their accounts at any time.

threemobile payment : This includes mobile wallet, contactless payment, transfer and mobile point of sale.

In other words, mCommerce is a branch of e-commerce, which allows people to buy and sell goods in almost all places through mobile connections.

IIMCommerce accounts for 65% of the total global e-commerce

MCommerce accounts for a large part of global e-commerce sales. As of May 2021,MCommerce accounts for 65% of the total global e-commerce.

However, some regions adopt mCommerce more quickly. For example, in the Asia Pacific region, 79.7% of e-commerce sales are completed through mobile phones.

Overseas mCommerce accounts for 65% of global e-commerce, and more and more people will use mobile phones to shop in the future

Why is mobile commerce so common in the Asia Pacific region?

One reason may be the relatively young (and proficient in mobile device technology) population in the region,The population aged 15 to 24 accounts for 19 per cent of the total population.

This, together with the high wealth level and overall digital competitiveness of the Asia Pacific region (especially in China), has made mCommerce develop so fast in the region.

Although the mCommerce market in each region looks slightly different, it is expected to grow globally. In the next five years, the global mCommerce marketIt is expected to grow to 2.7 trillion US dollars, with a compound annual growth rate of about 34%.

IIIMCommerceAdvantages and disadvantages

The increasing popularity of mCommerce has brought some positive impacts as well as challenges.

For example, the convenience of mCommerce allows consumers to make on-demand shopping anytime and anywhere, provided that there is a mobile connection.

MCommerce helps create a barrier free shopping experience. For example, because of the mobile wallet, customers do not even need to enter their credit card information to buy something, they can pay for it with one click.

Having said that, the rapid growth of mCommerce also means that enterprises need to consider how to optimizemoveShopping function. Like e-commerce, the field of mCommerce is developing rapidly, which means that enterprises need to keep their agility to avoid falling behind.

Despite these challenges, it is expected thatmCommerceIt will continue to grow, and enterprises need to cater to this market if they want to remain competitive.According to Blue Ocean Yiguan,This chart from Logiq provides an overview of the prospects of mCommerce.

B2bmCommerce accounts for 65% of global e-commerce, and more and more people will use mobile phones to shop in the future

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