The smartphone is more popular than ever, and consumers are taking advantage of the portable computer in their pocket. There are expectations that the global use of smartphones will increase to 2.87 billion by 2020, and of those users, up to 2 billion will make an online purchase using their phone every year.

Stats about eCommerce That Will Open Your Eyes

With an estimated $151 billion in sales in the mobile retail market, businesses are looking more closely at apps and how they can help their brands to grow. Dedicated company apps are fast-becoming the essential digital must-have, so if you’re not sure your business will benefit from one, Software Dev has some facts to share that you might be interested in.

1. Consumers Prefer Apps

If you think that online consumers are sitting at their PCs and laptops, then you’re very mistaken. Desktop internet use is rapidly dropping, while the use of mobiles to browse and buy is steadily growing. A report into stats about eCommerce apps in 2017 by Mary Meeker highlights that time spent online continues to grow overall, with apps alone expected to account for $189 billion in sales in 2020 alone.

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2. More Apps Than Ever

More apps are being downloaded every year, and it is widely expected that this trend will continue to grow. In 2018, there were over 205 billion apps downloaded, which is a 15% increase over 2017. Experts predict that by 2022, there will be a 25% increase in app downloads, one of the most impressive stats about eCommerce apps for those brands looking at the future of their app development potential.

3. Customer Loyalty

When someone downloads a business relevant app, then they are investing in your company. That means that they are ready to spend money, and they will spend more time on your app than they will be looking at your website via a mobile browser. If you have a presence on a customers phone, then they will be integrating you into their lives, and when they need to buy, you will be the brand that they think of first. Research suggests that customers who buy from an app that they have downloaded will return to buy more within 30 days.

4. Target Demographics

If your company is targeting the younger market, then an app could be essential. In 2017, 18-24-year-olds spent as much as 66% of their online time on apps. However, it’s not just millennials and Gen Z that are spending time on apps. While older users are more likely to be using a desktop computer, 18-44-year-olds are still spending more than half of their digital media time on dedicated apps.

5. Social Media Apps

In terms of app popularity, social media is the clear winner. Almost 40% of smartphone users surveyed by The Manifest said that they most frequently use social media apps. Communication apps and gaming apps came in second and third but stats about eCommerce apps for retail highlight that they still account for 7% of user time, and with so many people using smartphones and apps, that amounts to a lot of potential revenue.

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Software Dev have our Fingers on the Pulse of eCommerce Trends

The growing global dominance of smartphones and the apps that they add value to means that brands that are not yet doing their research into app development are potentially missing out. With increased profits and greater brand loyalty, apps could be the key to a more secure future for your business. Keep following our blog for more actionable insight and industry info, or get in touch to find out more.