On the Magical 20% in Mobile Commerce
While the mobile commerce revolution is still in its infancy, it’s nearing that magical number around market share.
Until now, mobile commerce as a percentage of sales or of retail started in the single digits, finally moving into the teens.
Numerous new market tallies report the state of commerce.
- A recent report from eMarketer says 15% of online retail sales this year will be made on a mobile device.
- The Adyen Global Mobile payment Index shows that worldwide mobile transactions account for 14% of purchases, led by Europe (15%), Asia (12%) and North America (11%).
- The IBM Online Retail Index showed the percentage of sales by mobile device at 19%.
- Based on data culled from 76 million Web visits and more than a million orders, the Branding Brand Mobile Commerce Index shows that mobile accounts for 17% of both total orders and revenue.
But think about it, percentages in the teens don’t sound significant.
To say something is at 12% or 15% just doesn’t sound like it matters.
But hitting the magical number of 20%: that’s another story.
Then it means ‘one out of every five.’ It implies substance. A bigger piece of the pie.
As an aside, the percentages around mobile commerce growth from a year ago are significant. For example, the IBM study shows a 28% increase in mobile sales compared to the same timeframe a year ago.
While growth can indicate directions of trends, it’s the snapshot of today that looms large.
When 20% of sales are being done via mobile, merchants will need to pay attention. Who can ignore 20% of a market?
Twenty percent demands respect.
And wait until the number becomes one in every four.