Mobile commerce will account for 73 per cent of all digital commerce transactions by value in 2021; rising to 79 per cent by 2025. Mobile has emerged as the most important way to access services, and although online will remain relevant for higher-value transactions, user experiences must be mobile first, said the new study from UK-based Juniper Research titled ‘Digital Commerce: Key Trends, Sectors and Market Forecasts 2021-2025’.

The report takes into account results from 8 key regions that include North America, Latin America, West Europe, Central & East Europe, Far East & China, Indian Subcontinent, Rest of Asia Pacific and Africa & Middle East. The countries covered in the study are Australia, Brazil, Canada, China, Denmark, France, Germany, India, Japan, South Korea, Mexico, Netherlands, Norway, Portugal, Saudi Arabia, Spain, Sweden, UK and USA.

The spend encompasses money transfer, digital goods purchases, physical goods purchases, digital ticketing purchases, banking bill payments, NFC mobile retail payments and QR code retail payments.

The report added that reactive digital commerce strategies built in the pandemic by merchants need to be turned into proactive, long-term strategies that offer the best user experiences, as competition in the digital commerce ecosystem intensifies.

“Mobile apps are the dominant force in digital commerce, with user experiences becoming critical, as products become heavily commoditised. Merchants must leverage AI-based analytics to ensure a truly personalised mobile commerce experience, or they will lose out to more digitally adept merchants,” said research author Nick Maynard.

The research also found that remote physical goods purchases will account for the single largest transaction value of any segment in 2021 at 22 per cent of the total.

Fibre2Fashion News Desk (KD)