Tag Archives: mobile commerce

12 Mobile Payment Statistics Marketers Should Know

With the rise of mobile payment methods like Apple Pay and Venmo, the future of eCommerce seems to be going mobile. Around the world, more businesses and consumers have been favoring the new technology over cash transactions. Here are mobile payment statistics marketers should know.

Between 2010 and 2020, the United States experienced a 50% drop in cash payments. Furthermore, the COVID-19 pandemic has only increased the preference for digital transactions. Keep reading to discover the mobile payment statistics every marketer should know.

Mobile Wallets

Mobile wallets store bank information right on your device, eliminating the need for a physical wallet. To explain, here are a few facts about them.

Around two-thirds of mobile wallet users identify convenience as the primary reason for their preference for digital payment.
In 2020, roughly 21% of all transitions were made using mobile wallets.
By 2026, the size of the mobile wallet market is likely to surpass $80 billion.

QR Codes

During the pandemic, the use of QR codes for transactions skyrocketed. Check out these facts to learn more.

In 2020, 1.5 billion individuals used QR codes to make purchases.
United States QR code use has risen by 11% since the beginning of the COVID-19 pandemic.
By 2025, QR code payments are expected to reach a $2.7 trillion global transaction value.

Apple Pay

Apple Pay is a digital card that makes mobile payments possible. Here are a few statistics that demonstrate its powerful position in the eCommerce industry.

In 2020, about one-half of iPhone users activated Apple Pay.
Apple Pay is accessible in 60 countries.
Over 900,000 apps selling their products and services use Apple Pay for transactions.

Cryptocurrency

In recent years, cryptocurrency and NFTs have gained significant popularity and value around the world. Look through these facts to better understand its influence.

More than 75 million people have a blockchain wallet.
10,000 Bitcoin is worth more than $80 million.
Globally, more than 15,000 businesses accept Bitcoin for their transactions.

Looking to learn more about mobile payment methods? Take a look at the infographic from CleverTap for all the statistics you should know.

eCommerce statistics, mobile commerce, online shoppingOctober 29, 2021

The Growing Importance of Mobile Communication [Infographic]

Even before the Covid-19 pandemic struck, a growing number of consumers relied on their mobile devices to shop around, contact sellers directly, and even make purchases. However, the pandemic has caused even more consumers to jump on the mobile train, with nearly every smartphone owner now using their device to communicate with at least a few businesses.

Unfortunately, some businesses still don’t get it, with some studies showing that 1-in-3 customer messages go unanswered. Perhaps the following findings from Business2Community will force you to take mobile communication and commerce more seriously.

Mobile Communication and Commerce Key Stats 2020

At least 85% of consumers prefer to receive marketing messages via text messages than email. Indeed, 55% of consumers ignore marketing emails because of inbox overload. Meanwhile, consumers open 98% of texts.

The trend remains the same for response rates. Whereas only 6% of emails are replied to, 45% of consumers respond to their text messages. The average response time is also far shorter for text messages (90 seconds) than email (90 minutes).

And, if you were worried about using AI to respond to some of those customer queries, you should know that most people don’t really care – they just want their messages answered! In fact, 27% say they can’t tell the difference.

Spare a minute to check the rest of the Business2Communcity infographic for other insightful mobile commerce stats.

how to do mobile marketing, mobile commerce, mobile marketing infographicJanuary 8, 2021

How Mobile is Changing Business [Infographic]

The rise of mobile device usage has a strong impact on our everyday life. Even businesses are not exempt. Here’s how the mobile evolution is changing the way we buy:

Online shopping

E-commerce makes up for 10% of total retail sales in the United States alone. This statistic is expected to grow exponentially in the coming years as the rate of mobile device adoption increases.
User reviews

As many as 56% of in-store purchases are influenced by recommendations found online. Therefore, people who are eager to share their experiences now have a platform which others are willing to read/watch/listen.
Mobile payment

In North America, Paypal remains to be the most widely accepted among many digital payment systems. In 2016, Paypal had an annual payment volume worth more than 350 billion USD.
Geotagging

People get more local results thanks to geotagging. Mobile ad campaigns with geotags reach a highly targeted audience, leading to an increase in good leads and conversions.
In-app purchases

Digital goods are selling online as well. People prefer to use free apps but are willing to pay for more. Around 44% of users make in-app purchases after at least 10 sessions with an app.

Entrepreneurs who haven’t embraced mobile yet should take steps to adjust now. Mobile is changing the business landscape fast, so make sure you can keep up before it’s too late!

Thanks, Kissmetrics!