45% of All Online Shopping Will Be Done On Mobile By 2020
According to the latest statistical data from Media Post, mobile took about 12 percent of online spending, which was equivalent to about $303 billion in the US. The statistical data also stated that by 2020, mobile is expected to double online sales to $632 billion and will account for 45 percent of all orders being placed on online stores.
Can Pakistan Be a Part of This Mobile Shopping Revolution?
The influx of mobile sales will also have a positive impact for Pakistani’s e-commerce market, which is on track to become a 5 billion USD industry by 2020. If you take a look at websites present in the Pakistani interwebs from your mobile devices, you will notice that majority of them are responsive and some of them even have their own dedicated applications such as Daraz, Homeshopping and Bytes, to name a few.
Also, the rapid growth witnessed in mobile wallet solutions such as EasyPay in Pakistan, mean things are improving when it comes to people and their dwindling hesitancy in making digital transactions.
Smartphones are the New Shopping Assistants
According to research, smartphones are still used for the most part to browse for items, but due to the fact that laptops and desktop computers provide more descriptions and allow users to see the image more clearly (although more often than not, they are just stock images), purchasing is not being done in high frequencies from mobile devices as they are in the traditional sense, indicating that there is still some time before adoption is slowly accepted on mobile devices as well.
Another thing to add here is that the emergence of a regulatory system will also be important in order for these e-commerce businesses to deliver astounding customer services. Only recently, a report was covered stating that Pakistani e-commerce businesses are not making a profit, but before concrete financial data is released, it is far too early to reach a conclusion. What we do know is that in the future, with the maturing of 3G/4G telecoms services and increased wireless coverage in Pakistan, along with the affordability of smartphones, e-commerce will definitely soar to greater heights in the region.