CAMBRIDGE, Mass.—Mobile commerce sales grew 29% to $153 billion in 2017 from the prior year, making up one-third of online retail revenue, a new report reveals.
A report from Forrester Research estimates the rate will gradually slow as the market matures, growing by 13% a year to make up half of U.S. online retail sales growth by 2022, Mobile Marketer reported.
“More than two-thirds of today's online buyers are already mobile buyers, leaving less room for growth. About half of online adults in the country shopped on their phone at least once in 2017,” Mobile Marketer said.
Forrester forecasts the U.S. will add 53 million smartphone shoppers in the next five years to make up 82% of online shoppers buying through a mobile device. The next wave of buyers consists of late adopters of mobile shopping technology.
Retail sales made on tablets continue to lose momentum, with 6% annual growth projected between 2017 and 2022, outpaced by smartphone retail sales growth of 16%, the study shows.