Mobile commerce (m-commerce) continues to be a cornerstone of global ecommerce, solidifying its online retail position and becoming fundamental to consumer behaviour. In 2024, this trend is spreading globally, as internet usage increases and smartphones become central to the shopping experience. M-commerce brings on-the-go convenience for consumers, fast checkouts through one-click purchasing, and simplified payments through mobile wallets. In 2023, smartphone penetration reached 69%, and there were 5.4 billion internet users; now, in 2024, there are approximately 4.47 billion smartphone users worldwide. By 2028, smartphone subscriptions will presumably reach 7.9 billion, suggesting that m-commerce will not disappear, but see USD 3.35 trillion in revenue and hold a 63% share of total retail ecommerce. The same data shows that m-commerce is expected to grow yearly, increasing from a revenue of USD 1.71 trillion in 2023 to USD 2.07 trillion in 2024, with a 57% share of total retail ecommerce.
In line with m-commerce, growing internet usage, and preference for convenience when shopping, we are seeing increased use of digital wallets in ecommerce, shaping how merchants and consumers interact during the checkout stage. Digital wallets are secure storage for digital payment information, so users can access these wallets through ecommerce channels such as apps and websites to seamlessly complete online transactions. In 2023, digital wallets accumulated a transaction value of 50% in ecommerce, predicted to grow by 11% by 2027. Their speed and convenience force businesses to tailor checkout experiences and offer popular, relevant payment methods. Per a 2023 Forbes survey, over half (53%) of consumers said they use digital wallets more than traditional payment methods.
Another trend is social commerce, which is shaping how consumers find products, purchase online, and engage with brands. Global social commerce is projected to reach GBP 6.7 trillion by 2030, and there are expectations for 6 billion social media users by 2027. Social commerce engages with consumers on a personal level, meeting their need for trust in the brand they choose to purchase from. Online shoppers no longer rely solely on product descriptions, but also on influencers and live social media streams, making purchases directly through social media platforms.
Augmented reality (AR) and virtual reality (VR) technologies are trending in ecommerce, enabling customers to interact with products and boosting the chances of finalised transactions. Techjury expects 1.73 billion AR users by the end of 2024. From personalised shopping journeys, virtual try-ons, and AR filters, merchants create interactive, in-depth shopping experiences for consumers without the inconvenience of going to a physical store, increasing brand awareness and loyalty. The growing popularity of these technologies is reflected in AR's revenue of USD 62.7 billion in 2023, which is predicted to reach USD 1.10 trillion by 2030.
Merchants should be aware of the trending payment methods to remain ahead of the competition and consider popular payment models, such as a combination of subscription plans and traditional sales to maintain success. To meet growing demand and be flexible to customer needs, customisable subscription plans offer value, convenience, and flexibility, while businesses have consistent revenue and channels for continual engagement.
We are seeing an evolution in the subscription model as it offers flexibility and gives the end consumer more control over what they receive and when. The global subscription economy market size is projected to reach USD 1.5 trillion by 2025, an increase from 650 billion USD in 2020. From streaming to meal delivery services, subscription models are a competitive edge to forging lasting relationships between businesses and customers.
To boost engagement, reach new customers, and optimise their online experience, merchants can leverage artificial intelligence (AI) technologies. Retrieving data based on customer behaviours, preferences, and purchase history to offer AI-driven recommendations of personalised product recommendations can boost conversion rates. AI enables merchants to optimise the customer journey with options such as generative AI, predictive analytics, fraud detection, and product recommendations. Exploding Topics showed that 42% of companies have explored using AI, whilst 40% are looking into AI technologies. This means that more than 266 million companies are using or exploring the use of AI to enhance their business operations.
Merchants should consider their target audience to tune the customer experience and prepare their brands. M-commerce and social commerce have increased quickly, driven by digitally native generations. By 2029, Gen Alpha will have USD 5.5 trillion in spending power, while by 2030, Gen Z will have USD 12 trillion. Both are educated shoppers, placing focus on trusting brands and social impact. Less than half (42%) of Gen Z consumers trust companies, so merchants must create authentic, human experiences to build customer trust. Gen Z will have the fastest growth in spending power, overtaking baby boomers by 2029. Additionally, over three-quarters of Gen Alpha (78%) have earned money in 2023, with nearly half (43%) using technology for this. Driven by trust and engagement, creating an immersive shopping experience with dynamic and personalised interactions will be fundamental to engaging with them.
To optimise the customer journey, payment experiences should be tailored to location, as 59% of consumers abandon shopping carts when their preferred payment method is unavailable. Offering the right payment methods to your business’s target audience is essential to completing a seamless payment experience. With m-commerce taking the lead, digital wallets as a payment option will likely increase purchasing. A PayPal study showed that providing multiple payment methods and digital wallets resulted in 71% of consumers being more likely to purchase and 62% feeling optimistic about the brand. Diverse payment options will help brands be competitive, attracting different markets and demographics. Whether it is Buy Now, Pay Later (BNPL) services, subscription payments, or alternative payment methods (such as Pix in Brazil, WeChat Pay in China, or M-Pesa in Africa), the need for choice and flexibility will encourage potential customers to convert into returning ones.
The key to a successful strategy is understanding that markets differ. It is essential to consider how and where people like to shop, what draws them to brands, and how they want to pay. Fintech providers do this for ecommerce businesses, allowing them to focus on their operations. However, remaining flexible and adaptive is paramount when expanding. Whether tailoring your product offering or diversifying payment methods, catering to these needs will help streamline operations and improve customer satisfaction. A quick, safe, and convenient way to do this is through a payment partner who already understands global markets to help attract new audiences, build brand loyalty, and widen revenue streams.
Entering new markets can be simplified with technologies and local expertise, which help brands devise the right payment strategy. All these elements add value to the customer experience.
A shortened version of this editorial piece was first published in The Paypers' Global Ecommerce Report 2025, which provides a complete overview of key trends and strategies to help businesses worldwide succeed. Download your free copy today to explore in-depth insights on global ecommerce trends, the latest innovations in payment solutions, and strategies to stay ahead in a competitive market.
Irene Skrynova is the Chief Customer Officer at Unlimit. She is responsible for all client interactions and for building the company’s long-term customer strategy. Irene is an expert in customer experience, success, cryptocurrencies, and ecommerce. She boasts a breadth of international experience, holding roles that span public relations and marketing to customer care and business development.
Founded in 2009, Unlimit is a global fintech company that offers a large portfolio of financial services, including payment processing, multicurrency accounts, Banking-as-a-Service (BaaS), and an on- and off-ramp fiat solution for crypto, DeFi, and GameFi.
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