New research from PayPal and Ipsos* shows that mobile commerce is growing at nearly three times the rate of overall ecommerce.
From 2013-2016, the multi-country average compound annual growth rate for mobile commerce is projected at 42 percent vs.13 percent for overall ecommerce (including mobile commerce), according to the report.
The research, which investigated the mobile shopping habits of more than 17,500 consumers in 22 countries, also reveals insights on mobile shopping behavior, barriers and growth markets.
“We are on the cusp of the mobile-first era,” said Anuj Nayar, senior director of global initiatives for PayPal. “At PayPal we’ve seen our mobile growth rise from less than one percent of our payment volume in 2010 to more than 20 percent in 2014.”
A Bright Future for Mobile Commerce
As a percentage of global online spend, mobile commerce is still relatively small: according to the research, smartphone purchases are driving nine percent of online spend and purchases made on tablets account for only five percent of online spend.
However, both are dwarfed by laptops, desktops and notebooks, which cumulatively are used for 85 percent of online spend.
While spend numbers might be low; the prevalence of mobile shopping is quite significant.
A third (33 percent) of online shoppers surveyed report having purchased something via smartphone in the past 12 months, and 20 percent report making a purchase via tablet. The surge in smartphone commerce is being driven by young adults.
A global average of 59% of smartphone shoppers are between 18-34 years old vs. 44 percent of total online shoppers.