eCommerce: mobile set to knock desktop off its perch

Global mCommerce will take over desktop shopping by 2023, according to research by Worldpay.

This also finds that the largest mobile markets in the world are China (£0.57 trillion), US (£0.16 trillion), UK (£48.8 billion), Japan (£26.4 billion) and South Korea (£22 billion).

The total eCommerce market in the UK is set to grow by 40% between now and 2022 to £240 billion (9% CAGR). E-wallets in particular are favoured when purchasing via mobile, currently making up 23.2% of online payments in the UK. This is set for rapid growth driven by increased smartphone ownership and faster mobile networks, Worldpay claims.

Its report, which covers 36 countries across five continents, found that mCommerce currently accounts for 38% of the £990 billion in global eCommerce sales, and global mCommerce is set to grow by 19% over the next five years. 

“The UK in particular is a highly-developed market, and with 99% of the population connected to the internet, e-wallets are clearly the future of mobile commerce for shoppers – but this is only the beginning," says Motie Bring, General Manager for the UK, Global Enterprise eCommerce, at Worldpay.

"The latest innovations in device hardware, from voice recognition to facial scanning, are helping make payments more seamless and secure than ever before, prompting consumers to ditch desktop in favour of their smartphone or tablet. To stay ahead UK merchants should invest in their own apps, building a seamless shopping and checkout experience across every device, and support the most popular payment methods.”