It’s a mobile world. According to eMarketer’s latest research, mobile commerce hit a new benchmark in 2017: sales increased year-on-year by almost 59 percent, reaching $1.357 trillion. The contributed immensely to the near 25 percent annual rise in e-commerce sales, which resulted in $2.304 trillion globally.
According to eMarketer’s research, m-commerce also drove an expansion in average online shopping cart sizes. International accessibility to online shopping platforms democratized e-commerce, and widened brands digital footprint, which injected revenue, too. “In Asia-Pacific, the proportion grew from 70.3 percent in 2016 to 76.1 percent in 2017. In Western Europe — where tablets play a role in several countries — it jumped from 31.3 percent to 35.4 percent over the same period,” said the eMarketer report, “Worldwide Retail and E-commerce Sales: EMarketer’s Updated Forecast and New M-commerce Estimates for 2016-2021.”
This echoes the robust earnings during the Black Friday and holiday shopping period. As reported by Adobe, mobile collected its first $2 billion on Cyber Monday. And while mobile continues to become the preferred device for product research and discovery, retailers should maintain physical footprints for enhanced customer service — and shipment pick-up.
According to eMarketer’s report, mobile commerce only devised 6 percent of all retail sales worldwide, though it predicts by 2021, it will double to more than 12 percent — especially in Asia-Pacific markets. Nielsen reported in its latest white paper, “What’s Next for China’s Connected Consumers” that 84 percent of Chinese consumers used their mobile device to shop — marking a 71 percent uptick from 2015.
Brands and retailers looking to break into new markets would be well-suited to ensure that cross-border commerce platforms are deployed to confirm speedy shipment and delivery, with accurate inventory transparency. What’s more, aligning mobile commerce shopping preferences and behavior with in-store technology to elevate the role of the store associate will aid in building consumer loyalty.
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