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Mobile Commerce Revenue Doubles to $ 700 Billion by 2025

If you suspect that consumers are doing most of their shopping on their smartphones, eMarketer’s new survey will double sales to $ 700 billion by 2025. According to another report by Mordor Intelligence, the annual growth rate of the mobile commerce market will be 27 percent between 2021 and 2026.

High tech and convenient

Increasing the use of smartphones will increase security, convenience and make it easier to access the Internet. Technology-savvy consumers are encouraged to make mobile-based payments through digital wallets and online payment gateways. This enables contactless payments, eliminating the need for card swipes and manual entry.

This trend has made it easier to deploy multiple security features on mobile and wearable devices, including biometrics such as fingerprints and facial recognition, making mobile payments more secure. In addition, many service providers work with mobile operators to provide advanced payment solutions.

In-app shopping

According to a Digital Turbine report, more than half (55%) of mobile shoppers downloaded at least one new shopping app before the holiday season. The top downloaded shopping apps include Amazon, Walmart, and Target. However, other apps such as Nike, Etsy, Poshmark, and Fetch Rewards have also been identified as “climbers” in the report, indicating that consumers are above average intent to install these apps.

RetailDive, a US-based company that reports on the most influential news and trends that shape retail, said: In early October, Macy’s updated the app’s design and navigation with live stream shopping. Later that same month, Target added “Did you forget something?” App buttons and new features to support same-day delivery service. “

Article Source FinancialSourceMedia.com

Mobile Commerce Revenue Doubles to $ 700 Billion by 2025

Source link Mobile Commerce Revenue Doubles to $ 700 Billion by 2025

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