Mcommerce Market In Europe: Who’s Mobile Friendly?
Europe is a mobile friendly market. Customers now expect to receive the same experience on mobile or using an app as they would on a desktop browser.
Consumers in Europe are increasingly comfortable browsing and buying for big ticket and important purchases, including paying household bills, booking travel, holidays and electronic goods, according to Visa’s 2016 Digital Payments Study.
Mcommerce was once a poor substitute for ecommerce, more suitable for browsing than buying, but not anymore.
An analyst at Kleiner Perkins Caufield Byers (KPCB) bravely predicted in 2008 that mobile web access would “overtake fixed Internet access by 2014.” Turns out, they were right. Mobile access is not yet the main way consumers shop, but between browsing, mcommerce, mobile payments, peer-to-peer transfers and banking, we can’t see this trend slowing down. One day, in the not too distant future, mcommerce could overtake ecommerce.
European Snapshot 2017
European consumers are increasingly comfortable using smartphones for banking, transferring money to friends and family, even abroad, and buying everything from takeaways to travel tickets, even holidays and more expensive items. A sign of the times is that in 2015, 38% of European consumers had never used a mobile device to make a payment or purchase. Now that figure has dropped to 12%.
Across Europe, 54% of people have already used a mobile device to make a payment and/or purchase, with some countries approaching 100 percent adoption rates for mcommerce.
Visa’s 2016 Digital Payments Study shows a dramatic shift across Europe between 2015 and 2016. According to the study, where 36,000 people were surveyed across 19 countries, ‘the number of Europeans regularly using a mobile device for payments has tripled since 2015 (54% vs. 18%).’
Capgemini and IMRG research found that UK M-Commerce sales through smartphones are continuing to rise, 47% year-over-year (YoY) in December 2016 – the critical holiday period – compared to a 3% decline in sales through tablets.
Even Germany, a market previously behind others in Europe, is catching up, with eMarketer expecting 29 million German consumers to make at least one purchase through a smartphone in 2017, up 15% from 2016. Most Germans prefer to pay using cash or bank transfer, so the fact that payment providers and banks are demonstrating high enough levels of security is reassuring in this market.
Mcommerce is already far more widespread in other countries, particularly Norway, Sweden, Finland, where mobile payment use is very high. It’s equally popular in Turkey (91% of people use mobile payments), Israel (87%), Eastern Europe and Belgium (75%).
Clearly, Europe is a mobile friendly market. Retailers who aren’t embracing mobile payments, apps and mcommerce risk losing customers and market share. Customers expect a smooth, efficient mobile experience, which includes a secure set of mobile payment options when they get to the checkout.
For more on mobile payment processing, visit our mobile services page.