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M-Commerce: Stats and Trends You Need to Know in 2023

If you happen to be one of the 6.4 billion smartphone users worldwide (80% of the world’s population), you understand how much your daily routine depends on it. Checking your inbox and scrolling through the news feed has become our new habit. Multiple video calls with colleagues throughout the day, and social media before bed—most people have their phones around all the time.

What’s more, people also use smartphones to save time—paying for food delivery or shopping online is now common practice. That’s where m-commerce comes into play and helps users make their online transactions more convenient.

In this article, we’ve expanded on the difference between m-commerce and e-commerce and handpicked the latest stats and trends in mobile commerce to help you monitor customer behavior and make strategic improvements on the fly.

What Is M-Commerce All About and Why Should You Use It?

Innovative m-commerce technologies enable customers to scroll through online stores and place their orders without laptops or desktop computers. We use smartphones to order a new outfit or buy courses on our favorite learning platform while sitting in a taxi on our way home. 

Apart from shopping, m-commerce is a great way to use online banking, manage your bills, and pay for numerous services with your mobile device. 

But still, how is m-commerce different from e-commerce? Electronic commerce enables customers to buy online using their computers, while m-commerce involves the use of mobile devices. It’s uncomfortable to use laptops on the go, making it challenging to conduct transactions fast and efficiently. 

M-commerce is the process of buying and selling goods and services through mobile devices, such as smartphones and tablets. It includes any transactions that take place via a mobile device, regardless of the payment method used. With the rise of mobile usage, m-commerce has become an essential part of e-commerce, with many businesses now prioritizing mobile optimization for their websites and m-commerce applications.

This process offers numerous benefits to both consumers and businesses. For consumers, it provides convenience, allowing them to shop and make purchases on the go, without the need for a desktop computer or laptop. With m-commerce applications, people can compare prices, read reviews and make purchases from anywhere, at any time, with just a few clicks. For businesses, m-commerce provides an opportunity to reach a broader audience and increase sales. 

mobile commerce trends

As mobile usage continues to grow, businesses that prioritize mobile optimization of their websites and m-commerce applications are better positioned to capture the attention of mobile users and offer them a seamless shopping experience. In addition, this provides businesses with valuable data on consumer behavior and preferences, allowing them to better tailor their offerings and marketing strategies.

There are several types of m-commerce, each with its own unique advantages. Mobile applications, or “apps,” are a popular way for businesses to offer a dedicated shopping experience to mobile users. Many companies have developed their own apps, which allow users to browse products, make purchases, and receive personalized recommendations.

Mobile wallets, such as Apple Pay and Google Wallet, are another popular form of m-commerce. They allow consumers to store their payment information securely on their mobile devices and make purchases with just a few taps. Mobile wallets also offer enhanced security features, such as biometric authentication, which can help protect against fraud and identity theft.

What’s more, mobile commerce allows retailers to interact with consumers in a more personalized way. User-friendly push notifications, AI integrations, one-click checkouts, and various payment options provide clients with personalized shopping experiences, increasing customer retention.

In addition to personalized shopping experiences, mobile commerce is also an extra marketing channel. With special prices and free shipping for app users, mobile-only offers, coupons and promo codes, such apps can go viral and leverage their customer base much faster. 

benefits of using m-commerce

We shortlisted the core benefits of using m-commerce for e-commerce businesses:

  • Higher Revenue

By the end of 2022, mobile commerce sales hitted $3.56 billion, which means this shopping channel is relevant in the global world. 

With a more straightforward checkout process, personalized push notifications and convenient online transactions, customers are more encouraged to make purchases using their mobile devices. 

So, if you want to satisfy customer needs and generate more revenue, building an app for your retail business is a must-have to stay afloat in such a saturated market.

  • Enhanced Customer Experience

Intuitive navigation within an app, social media integration to share feedback, and personalized push notifications encourage customers to use such apps again and again. 

Equipped with a user-friendly app, it’s much easier to grab your customers’ attention by providing them with a personalized buying experience and a seamless user journey.

  • Extra Marketing Opportunities

With an m-commerce app, you have an opportunity to reach your customers directly and integrate your solution with social media platforms. You can encourage your audience to share feedback, communicate with each other, and spread the word about your company. 

If your app goes viral and becomes popular with your audience, you can monetize it by placing in-app ads to drive more revenue.

  • Insightful Data

Mobile analytics can provide you with insight into your customers’ browsing history, patterns and user behavior. 

You can use this data to boost customer retention and provide your audience with more unique and personalized offers like segmented promotions and recommended products. This sophisticated mobile analytics enables you to target consumers with relevant offers that are more likely to convert.

The Latest Trends in Mobile Commerce to Follow in 2023

In today’s fast-paced world, people want to do everything quickly and efficiently. With technological advancements, we’re seeing a significant shift toward mobile devices and their usage for everyday activities. One such shift is towards mobile commerce. Here are the latest trends of this phenomenon you should know in 2023. 

  • Intelligent Chatbots

Did you know that businesses save up to 30% in customer support costs with the help of AI-powered chatbots? Such a solution is a great way to optimize resources and provide consumers with high-quality service. 

Chatbots answer customer queries 24/7, help them find certain products, resolve simple issues and even place orders. 

These smart assistants can mirror human-like communication and discern customers’ needs, making it much easier to provide users with a personalized experience and keep them engaged. 

Dominos uses a smart chatbot to help customers choose a pizza, reorder any of their previous purchases and estimate the delivery time without leaving a Messenger.

  • One-Click Ordering

One-click ordering enables m-commerce apps to store customers’ data in their profiles, so they don’t have to re-enter that information manually. This saves your customers’ time and boosts your sales.

mobile commerce one-click ordering

It’s annoying for a user to re-enter their name, address and card details every time they want to make a purchase at your store. As a result, mobile has an average cart abandonment rate of 85.6%. Using one-click ordering, customers save time, so this m-commerce trend is going to stay with us.

For instance, with Amazon’s one-click ordering, consumers choose a default shipping address and payment method. 

What’s more, if a customer wants to buy five goods at once, the company does not need to charge them five times for shipping. Instead, it combines these orders together to reduce shipping costs.

  • Progressive Web Apps

A Progressive Web App is a technology that enables users to “install” a website on their smartphones and use it as an app. PWAs behave like native apps and require less space on mobile devices. 

These apps also provide users with such benefits as instant updates, push notifications, offline access and short loading time. A customer can install an app through the web browser and access it from their device’s home screen. 

Starbucks’ PWA was built to let customers look through the menu and place their orders on the go even without a stable Internet connection. This responsive and fast software provides customers with content-specific animations, nutrition information and customizable orders.

  • Voice Shopping

Voice shopping enables consumers to use virtual assistants like Siri and Alexa to buy online. Since 71% of customers prefer to use voice search over text, businesses can benefit from using this mobile commerce future trend. With voice shopping, customers can place their orders while cooking dinner, waiting for a taxi or taking a walk. 

Using voice commands, customers can search for a specific product, track their orders, add items to a shopping list and make transactions. 

mobile commerce voice shopping

M-commerce statistics show that voice shopping has reached $40 billion in the last year. Thus, if you don’t want to fall behind, optimizing your app for voice search has become a vital practice to keep your business afloat.

Walmart enabled customers to voice shop with the help of Siri and Google Assistant. To activate this feature, users just have to say “Talk to Walmart” to their virtual helper. 

This solution enables customers to fill a shopping cart with groceries, apply a promo code, set up delivery time and proceed to checkout.

  • Augmented Reality

Augmented reality isn’t limited to gaming Businesses benefit from interactive experiences built with AR to showcase their products and let customers try them on before making a purchase. 

Augmented fitting rooms are used to try on different clothing combinations or furniture recommendations. 

Buyers can make sure a bed fits their interior. AR has become a fantastic tool to boost customer experience and change the entire concept of shopping.

The AR app market is expected to reach $15.5 million by 2023, so it’s time to start following this m-commerce trend to outpace your rivals and generate more revenue. 

Warby Parker built an app that allows customers to try on an extensive range of glasses without leaving their homes. Before making a purchase, users can also share their selfies with friends, which increases engagement and brings more users to the app.

Thrilling M-Commerce Stats to Check Out

Mobile commerce statistics

Mobile Commerce Examples: 3 Companies Dominating the Industry

As one of the largest educational platforms worldwide, Coursera helps users hone their skills in various areas, from science to humanities. 

Coursera has 87+ million students and collaborates with leading companies such as Google, IBM, Intel and Microsoft. The company also partners with Duke University, Eindhoven University of Technology, Yale University, Copenhagen Business School, Berklee College of Music and others. 

Students can enjoy both free and paid video courses, get certificates and even earn a college degree at home. 

Coursera managed to bring its robust desktop UX to the mobile m-commerce application, which let students from developing countries learn without limits. As a result, 20% of students use Coursera on mobile devices only. With $142.2 million million of annual revenue generated in 2022, the company is expected to grow its value for years to come.

Mobile commerce examples

This huge retail corporation takes mobile shopping to the next level by offering exclusive features to app users. Customers can store gift cards on their smartphones and use them at checkout. 

With special offers for mobile users and services like curbside pickup, Target’s Q1 sales grew by 19.78% to $106.005B. 

App users can also scan the barcode to apply all their special offers, from gift cards to RedCard exclusives to save on their purchases. 

The app also enables customers to order with Drive Up, allowing them to wait for their orders in a car.

Sephora is a renowned chain of cosmetic stores that allows all makeup addicts to try on hundreds of products from the comfort of their own homes. Virtual Artist is a sophisticated app equipped with facial recognition technology. 

The app scans customers’ faces to ensure accurate product placement. Then, users can browse hundreds of makeup products and try on a certain foundation or lip gloss.

Apart from this feature, users can compare swatches, match their makeup to the most suitable outfits and recreate the latest makeup trends. 

This is a great way to encourage consumers to stay home during the pandemic and let them interact with their favorite store online.

Stay Aware of the Hottest M-commerce Trends with LITSLINK!

M-commerce, or mobile commerce, refers to the buying and selling of goods and services using mobile devices such as smartphones and tablets. It has become increasingly popular in recent years due to the widespread adoption of mobile devices and the convenience they offer.

One of the biggest advantages of m-commerce is its accessibility. Customers can make purchases from anywhere at any time, as long as they have an internet connection. This makes it easier for businesses to reach customers and for shoppers to find what they need without being limited by physical location or working hours.

M-commerce trends also offer a range of payment options, including mobile payment platforms such as Apple Pay and Google Wallet. These payment methods are fast and secure, making transactions quick and easy for both customers and businesses.

Another advantage of m-commerce is that businesses can offer their customers a personalized shopping experience for customers. By analyzing customer data and behavior, companies can tailor their marketing and sales strategies to target specific customer preferences and needs. This can lead to increased customer satisfaction and loyalty.

M-commerce also provides opportunities for businesses to streamline their operations and reduce costs. For example, digital transactions eliminate the need for physical stores, which can reduce expenses related to rent, utilities and staff. Additionally, businesses use mobile technology to automate certain processes such as inventory management and order processing, which saves time and reduces errors.

However, there are also some challenges associated with m-commerce. One of the main challenges is security. Mobile devices are vulnerable to hacking and other types of cyberattacks, which can compromise sensitive customer information such as payment details and personal data.

Wrapping Up 

M-commerce provides valuable data insights that businesses can use to optimize their marketing strategies and improve their customer experience. By analyzing customer behavior and purchase patterns, businesses can better tailor their offerings and promotions to meet customer needs and preferences.

Overall, m-commerce offers a convenient, accessible and data-driven approach to buying and selling that is well-suited for today’s mobile-centric world. By adopting m-commerce strategies, businesses can reach more customers, improve their sales processes and stay competitive in the modern marketplace

With our app m-commerce development agency, it’s much easier to build scalable and recognizable solutions and ensure your users enjoy secure and convenient online transactions, one-click ordering, voice shopping, and intelligent chatbots.

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