In the context of the strong development of e-commerce in Belgium during the COVID-19 pandemic, mobile e-commerce grew even faster with strong double-digit growth recorded. This was attributable to retailers providing more efficient, user-friendly and secure online shops; and consumers being increasingly confident in shopping via mobile devices in 2021.
The entry into force in 2021 of the strong customer authentication (SCA) requirement helped enhance security while shopping online. SCA is part of the revised EU Directive on Payment Services and ensures payments are performed in two steps (double authentication) to prevent fraud.
In 2021, Bancontact, the leading player in digital payment systems in Belgium, developed the app Payconiq. The app allows users to pay online via mobile devices, pay via mobile devices in physical stores and pay bills via mobile devices.
Technological innovation, increasing smartphone penetration, improved security in payment methods, consumers’ growing confidence when shopping online are all likely to result in very strong growth for mobile e-commerce over the forecast period.
Indeed, whilst the mobility restrictions linked to the pandemic are likely to soften substantially from 2022, Belgians proved already in 2021 that the shift to e-commerce (and most notably to mobile e-commerce) was not only a reaction to the circumstances of the pandemic in 2020, but rather a structural change, driven mostly by convenience. This change will not only benefit mobile e-commerce; on the contrary, it is likely to involve, more generally, an omnichannel model centred around mobile e-commerce and mobile devices as such (i.
The security and user-friendliness of mobile payment methods is a very important factor for the continuous development of mobile e-commerce. The combination of the SCA payment system and the wide reach of apps such as Payconiq and MyBpost is likely to help boost mobile e-commerce over the forecast period.
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Understand the latest market trends and future growth opportunities for the Mobile E-Commerce (Goods) industry in Belgium with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Mobile E-Commerce (Goods) industry in Belgium, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Mobile Internet Retailing includes sales through mobile devices such as smartphones and tablets. Please note that these sales are also included in the Internet Retailing Channel. Mobile Internet Retailing is also known as m-commerce.See All of Our Definitions
This report originates from Passport, our Mobile E-Commerce (Goods) research and analysis database.
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