After pandemic, every brick and mortar store businesses suffered via lockdown, strict SOPs etc. on the other hand E-commerce businesses are struggling to fulfill the sales order, resultantly, Global e-commerce sales are expected to $6.4 trillion in 2024. mobile ecommerce sales are expected to account for 54% of total ecommerce sales in 2021.
M-commerce has the potential to become a major shopping channel and to change consumer shopping behaviour. Customers especially online shoppers are dependent on digital devices; smartphone, tablet smart tv and smartwatches. 77% of Americans own a smartphone, Over 230 million U.S. consumers own smartphones and around 100 million U.S. consumers own tablets.
Studies predicts m-commerce volume to rise at a 25.5% compound annual growth rate (CAGR) from 2019 to hit $488.0 billion, or 44% of e-commerce, in 2024. And there are two key devices driving the m-commerce revolution: smartphones and tablets. By 2022 over 120,000 stores will be using Augmented Reality (AR) technologies, offering a much richer buying experience (Prnewswire, 2018).
Numerous easy to use payment options in mobiles devices are also encouraging the customers to buy goods online from their devices. attractive user experience also contributing towards increasing trend in mobile commerce, consumers’ familiarity with how smartphones and other mobile devices work. with smooth navigations in commerce apps Most people know how to navigate to the desired product in just a few clicks. 69% of customers prefer to review a product on their phone than speak with an in-store sales rep.