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Mobile devices are now an integral part of e-commerce growth amid the high smartphone and internet penetration. However, some countries are taking the lead in mobile commerce
According to data acquired by Finbold, Nigeria and South Korea top globally among countries that made online purchases via mobile devices, with both accounting for 65% of all e-commerce transactions as of April 2021. Among the top ten countries, Asia is dominating, accounting for 80% of the entrants. China ranks third, tied with Indonesia, representing 64%. The Philippines ranks fifth at 61%.
Other top countries include Thailand (61%), Vietnam (60%), Malaysia (60%), Saudi Arabia (59%), and Hong Kong (59%).
In North America, Mexico tops with 53% of all e-commerce transactions going through mobile devices, ranking 16th overall. The United States ranks second from the region and 35th overall, with a score of 29%.
Role of the pandemic in mobile commerce
The report highlights the drivers behind the high rate of mobile devices in e-commerce. According to the research report, “In general, mobile commerce and e-commerce received a major boost due to the coronavirus pandemic. As countries imposed lockdowns, more people stayed at home and turned to online shopping for essential goods. However, before the pandemic, online transactions through mobile devices were already soaring."
Elsewhere, free delivery is driving the reason for online purchases at 52.6%, followed by coupons and discounts at 40.3%. Reviews from other customers rank third at 33.8%, followed by easy returning policy at 32.6%. Furthermore, quick and easy check out is motivating 29.6% of online shoppers to buy a product.
Furthermore, the report offers a projection on the future outlook for the mobile commerce sector. The report states that, “The role of mobile devices in online transactions will likely keep soaring. The continued penetration of smartphones and the internet remain to be the key drivers. Furthermore, retailers will potentially win over more customers as they design mobile-centered e-commerce platforms.”
As demand is projected to soar, retailers and developers are focusing on unveiling more user-friendly platforms.
Read the full story with statistics here.