Mobile e-commerce registered an even higher increase in current value sales in 2021 than e-commerce overall and mobile e-commerce now accounts for nearly half of total e-commerce sales. The healthy growth is supported by very high penetration of smart phones and retailers have also ensured that their websites are mobile enabled.
A huge driver of increased value sales of mobile payments has been the significantly larger threshold for contactless payments. In order to promote card payments during the pandemic, the maximum value for contactless debit card transactions without authentication was raised from CHF40 to CHF80 in 2020 and this has resulted in significantly higher contactless payments through mobile phones.
Social commerce is an emerging option within the online mobile payment space. This model moves social media beyond its traditional role in the discovery process by encouraging users to complete the entire purchase process without leaving their social media apps.
Mobile e-commerce will be the fastest growing retailing channel over the forecast period. The growth will be driven by younger consumers, who are very comfortable making mobile payments, having grown up with this technology.
The increased use of social media platforms, and especially Instagram, for e-commerce (social commerce) will position the smartphone at the centre of the online shopping experience in the forecast period. Players are expected to turn to social media most often when they wish to attract Generation Y and millennials to their brands.
If consumers take to online payments, including mobile payments, there could be significant advantages for retailers, including have much more data available about each consumer. Players could use incentives to encourage consumers to switch to online and mobile payments.
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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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