This year, mobile commerce has not only broken records, but also continued to solidify itself as a driving force behind ecommerce growth. More than two-thirds (67.4%) of the US population will be mcommerce buyers this year, spending $534.88 billion on their mobile devices, per our July 2024 forecast. Here are five key stats that underscore the expanding mcommerce opportunity, plus ways for brands and retailers to capitalize.

1. Mcommerce sales have already broken records this year

Key stat: From January to July 2024, a record $280.4 billion was spent through mobile devices, accounting for nearly half (49.3%) of all online sales, according to Adobe Analytics. This marks a 10.2% YoY growth over the same period.

What it means: The growth of mcommerce highlights the increasing importance of optimizing the mobile shopping experience—not only should it be engaging, but also frictionless, which means fast load times, a simple checkout, and secure payment options.

2. Mobile purchases will drive holiday ecommerce growth

Key stat: US retail mcommerce holiday season sales will reach $140.65 billion this year, per our July 2024 forecast. These mobile purchases will make up for more than three-quarters (75.6%) of the net increase in holiday ecommerce sales.

What it means: Brands can take advantage of heightened consumer interest and traffic during the holiday season by providing incentives to download a mobile app. Exclusive promotions and loyalty programs in the app can give holiday shoppers a reason to return year-round.

3. The Temu boom is helping keep mcommerce strong

Key stat: Temu’s US ecommerce sales will 59.0% next year, reaching $30.83 billion, per our May 2024 forecast. It is the fastest-growing retail marketplace we track, beating out eBay and Walmart.

What it means: With 51.1 million unique US visitors in January 2024, the Temu app was one of a handful of retailers (alongside Amazon and Walmart) to land within the top 20 smartphone apps by user, according to Comscore.

Ultra-low prices—appealing to young shoppers—are fueling Temu’s ascent, leading to tougher competition for marketplace sales, but also growth in mobile retail sales. Its current US strategy to increase basket sizes and purchase frequency may also give mobile retail sales a boost.

4. Short-form videos are influencing purchases on social media

Key stat: More than half (53.7%) of US social shoppers said that short-form video influenced them to purchase something on a social media platform, per March 2024 data from our “US Social Commerce” survey. More than three-quarters (75.7%) of US social shoppers are staying on the social platforms to complete their purchases, the same survey found.

What it means: Although the days of short-form video’s explosive growth are over, the content is still incredibly popular—and influential to mcommerce. Platforms known for short-form video are still seeing positive gains this year, including TikTok with time spent and YouTube Shorts viewers.

Short-form video can be a powerful tool for driving mobile purchases, which is why marketers should focus on creating compelling, bite-sized content, lean on creators, and experiment with newer social commerce channels such as TikTok Shop.

5. Mcommerce still has a lot of room to mature

Key stat: 39% of US consumers use their phones daily to research purchases, but only 26% buy on their phones daily, per an August 2024 report by Quantum Metric. Another 69% research high-value items on mobile, but buy on desktop, the same report found.

What it means: Although mobile plays a key role in the earlier stages in the buying journey, it still has a ways to go to realize its full potential for conversion. The gap between mobile research and purchase shows that brands still have work to do to gain consumer trust. Nearly six in 10 (59%) of consumers only feel confident making a purchase for $50 or less on mobile, per Quantum Metric.

This was originally featured in the Retail Daily newsletter. For more retail insights, statistics, and trends, subscribe here.