Retail news that keeps industry pros in the know
Retail Brew delivers the latest retail industry news and insights surrounding marketing, DTC, and e-commerce to keep leaders and decision-makers up to date.
E-comm is so yesterday. 2021 is all about M. According to eMarketer, mobile commerce sales (aka m-comm, aka all the stuff we buy on our phones) increased by 41.4% in 2020 and will grow another 15.2% this year, hitting $359.3 billion.
“Smartphones have historically been primarily consumption devices, but they're becoming much better as transaction devices,” eMarketer principal analyst Andrew Lipsman told Retail Brew.
- M-comm is expected to almost double its share of annual US retail sales by 2025, to 10.4%—or $728+ billion.
Tap and buy: We shouldn’t be surprised. At this point, e-commerce is just...commerce. Soon, the same will be true for m-comm.
During the pandemic, 56% of American consumers used apps or mobile websites to order food (up from 36%) and 51% ordered products for pickup (up from 31%).
- A 2021 Deloitte survey shows that 70% of 2,000+ US teens and adults will continue these habits post-Covid.
Future vision: Yes, we’re talking about social commerce. “Every major social media company is aggressively building out its commerce features—including AR try-on, livestream shopping, and streamlined checkout,” Lipsman said. ”Most of these transactions that result from this innovation will happen on mobile.”—JG