Mobile Commerce To Hit New Highs This Holiday Season
U.S. mobile commerce, or mcommerce, sales are expected to reach $314 billion this year, and represent 44% of projected total ecommerce sales of about $710 billion, according to eMarketer projections.
That partly reflects overall ecommerce growth expected for the year.
While pandemic-necessitated social distancing, unemployment and financial stress will take a toll on bricks-and-mortar spending growth — projected to decline 14% this year (to $4.2 trillion) — overall ecommerce sales are benefitting, with projected growth of 18% (to $709.8 billion), versus 14.9% in 2019.
Looking at the holidays, emarketer is projecting that retail mcommerce sales will reach $71.3 billion this holiday season — up nearly 12% from $59.6 billion in 2019.
That will mean that retail mcommerce holiday sales will represent 23% of overall 2020 mcommerce sales.
In 2018, the researcher estimated holiday retail mcommerce sales at $49.3 billion, accounting for 40% of estimated total holiday ecommerce sales of $123.4 billion. Mobile retail holiday sales totaled $30.6 billion in 2016, and $40 billion in 2017, representing about 33% and 39% of total retail ecommerce holiday sales, respectively.
A recent survey by online installment payments company Sezzle found nearly 80% of shoppers reporting that they were shopping more on mobile since COVID hit — including 53% reporting doing “much more” mobile shopping, noted Forbes contributor Shelley E. Kohan.
“With this new normal of retail, ecommerce and online purchasing options are going to skyrocket, especially on mobile devices, as shoppers prioritize their safety and health,” summed up Sezzle CRO Veronica Katz.