Online retail via mobile to grow at 15.6% CAGR to $1 trillion in 2020

mobile commerce forecast in Asia Pacific
Approximately one-fifth of total retail sales will take place online by 2021 in Asia Pacific. 78 percent of online sales in Asia Pacific will be from mobile.

Online retail via mobile is expected to grow at CAGR of 15.6 percent to reach $1 trillion in 2020 against $539 billion in 2016, said Forrester Research in its report on m-commerce industry.

Meanwhile, a recent study in India by digital marketing firm Regalix said more than eight in 10 young adults use their smartphones for shopping.

The findings showed that 83 percent used their smartphones for some online retail shopping.

Despite this, only a minority of smartphone shoppers were actually making a purchase with any significant frequency.

Only 28 percent of respondents made a weekly purchase using their device. One-third of those polled bought something via smartphone monthly, while one-quarter did so on a quarterly basis.

94 percent respondents revealed that apps were more convenient than mobile websites.

However, citing the example of Myntra — an apparel-focused e-commerce platform owned by Flipkart — the study indicated that Indian consumers still prefer the flexibility of having the option of using either the mobile web or a native app.

Myntra took to an app-only platform in 2015, but re-launched its mobile site in early 2016.

19 percent of smartphone users admitted to being influenced by mobile advertising. Nearly half of respondents claimed that advertisements never influenced them, while just over one-third did not even notice mobile ads.