Mobile Commerce Growing Three Times Faster Than eCommerce Driven by Payment Apps

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As website apps and mobile payment solutions make mobile shopping easier, mCommerce is set to grow three times faster than regular eCommerce by 2016, according to the latest data.

Coupofy Logo the popular online coupon codes website discovered that there were 560 million mobile coupon users in 2014 while conducting some research, and decided to explore the general rise in mobile commerce. By 2019 data suggests that there will be 1.05 billion mobile coupon users, redeeming some 31 billion coupon codes!

At it's current rate mobile shopping will see 42% growth from 2013 to 2016, while regular online shopping will have slowed down to just 13% growth. Mobile shoppers are also projected to spend a total of $600 billion by 2018, which is four times that of 2014's $200 billion.

This growth is being driven by a diverse range of countries, with China, Spain, Norway, Sweden and Denmark seeing their mobile shopping markets double in recent years, with 68% of all Chinese consumers saying they have already shopped using their mobile devices.

Taiwan and India are in the lead however, seeing a rapid growth rate of 60% between 2012 and 2014, as their populations begin to widely use smart phones.

Unsurprisingly the rise in mobile shopping is linked to a general rise in mobile usage globally, especially with mobile apps, which consumers are now increasingly willing to pay for. Businesses are also beginning to adopt mobile platforms for their workers to use on the go, and in turn advertisers are sinking more money in to mobile ads than ever before.

One of the key catalysts to mCommerce's growth is not just online stores offering shopping apps, but payment processors themselves offering mobile solutions as well. Users note that convenience and speed are the top reasons for using such apps. Apple Pay, Paypal, Google Wallet, and many others now make it incredibly easy to pay using a mobile device both online but also in-stores.

Interestingly however it is Amazon that leads the mCommerce race, seeing 110% growth in 2014, with revenues of $16.8 million. Apple only makes it to second with $14 billion in revenue, and Google Play has $4.4 billion, below China's Jingdong Mall.

In terms of mobile platforms it is Apple users that spend the most cash, laying down an average order of $115, compared to Android's $100. Consumers using tablets spend more than smart phone users, and men tend to spend more than women. In terms of products bought Computer/TV/Multimedia is the most lucrative at managing an average order value of $212.

To learn more about this interesting new data check out the infographic by Coupofy:

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