We've all done it. Gone shopping on our phone. With apps from Amazon, Walmart, Best Buy and the other popular retail stores out there, it makes it even easier than ever to buy anything at any time without even touching your laptop. In 2015, Mobile took about 12% of online spending, which totaled $303 billion in the US. However, by 2020, that's expected to jump to 45% and the US economy will be $632 billion. This is all according to Business Insider's latest statistics. That's quite the jump in just five years, both for how much mobile will account for, as well as how much will be spent in online shopping. In 2020, it's expected that mobile users will spend $55 billion on mobile, and 16% on total e-commerce.
Digital sales have seen a pretty big jump compared to last year, jumping 15% compared to the same quarter a year ago. However, retail sales increased 2% from the quarter a year ago. Most US adults spend most of their time on a mobile device, but spend the most of their money on a desktop instead of mobile. E-commerce and retail numbers are continuing to go up, and it's no surprise. Many people would much rather buy online then to go to a store and buy an item (especially this time of year, those lines). Additionally, buying online typically means no taxes or less taxes (although some retailers are changing that), and many offer free shipping, like Amazon with their Amazon Prime subscription.
According to research, smartphones are still used for the most part to browse for items and not buying. That is likely going to change in the next five years, or get closer to being even. It's a great way to browse for an item, especially if you're looking for a particular item and want to find the best price at a store before heading out. And with everyone having internet everywhere, thanks to the wireless carriers, it's easier than ever before. It'll be interesting to see how the numbers stack up after this fourth quarter is completely finished, as the fourth quarter is typically the best quarter for retail thanks to all the holidays.