30-10-2024
The number of smartphone users continues to grow significantly, and online shopping is becoming increasingly popular. As a result, consumers are increasingly using their smartphones for purchases. In this blog, we delve deeper into the numbers behind this growth and look at how market leaders such as Apple and Samsung are reinforcing this trend. Read on for more insights on how these major brands are driving the increase in mobile purchases, what the expectations are for the future, and how you as a mobile repair store can benefit.
Growth from 2017 to 2024
Global mobile commerce sales are expected to reach €1.93 trillion in 2024, representing 21.1% growth from €1.59 trillion in 2023. This is the first year that sales will exceed €1.86 trillion. Growth in cell phone purchases is accelerating this year compared to the past two years. When you consider that mobile commerce sales in 2024 will be more than four times what they were in 2017, you can really see how fast this is developing. It shows that mobile commerce is playing an increasingly important role in the e-commerce world. According to recent statistics, it is estimated that about 57% of all e-commerce sales worldwide come from mobile devices.
The expectations from 2025 through 2028
With the number of smartphone users now at 4.88 billion and continuing to grow, there seems to be no end in sight to the rise of mobile commerce. Analysts expect cell phone sales to continue to rise until at least 2028. In that year, total phone sales are estimated to reach €3.11 trillion, having already crossed the €2.79 trillion mark last year.
The time people spend daily on their mobile devices is also increasing. In the US, this increased from 225 minutes in 2019 to 279 minutes in 2024, an increase of 24% in five years. This shows that we are spending more and more time on our mobile, further driving the growth of mobile commerce.
The growth of cell phone purchases is largely due to how easy mobile shopping is today. A major reason for this is the proliferation of mobile payment options, which greatly enhance the customer experience. Three in four consumers say they make their purchases via their phones because it saves them time.
Still, there is room for improvement. Nearly 90% of shoppers feel their mobile shopping experience could be better. The most common problems are that pages and links are often too small to click on easily and concerns about security. In addition, more than half of shoppers would like to see online stores provide more product reviews and information. This is an opportunity for you to capitalize on with your repair store so you can gain even more customers.
As your customers become increasingly dependent on their smartphones for everyday purchases, they are also likely to place more value on their devices. This means that a properly functioning smartphone will become even more important, which will increase the demand for repair services. In addition, offering additional services, such as accessories or mobile security advice, can help you capitalize on this growing market.
According to the latest statistics on global smartphone market share, Apple tops the list with a 27.75% market share as of July 2024. This means more than a quarter of all smartphone users worldwide own an Apple phone.
Samsung follows in second with a 23.56% market share, just four percent behind Apple. Together, these two companies account for more than 51% of the total smartphone industry market share. Since 2013, Apple and Samsung have been the undisputed market leaders, taking over Nokia's position. Apple's lead over Samsung has remained fairly constant over the past year. In July 2023, Apple had a 28.39% market share, which is 4.17 percent higher than Samsung's 24.22% market share.
Xiaomi, the third-largest brand, has 11.8% of the market. This is remarkable for the Chinese company, which was founded in 2010 and has experienced significant growth over the past five years. Before 2017, Xiaomi had only about 2% of the market share, but that year it doubled its share to 4.75%. Next come Oppo and Vivo with 5.86% and 5.4% of the market share, respectively. Realme, as the sixth largest manufacturer, holds 3.64% of the market. Together, these six brands own 78.01% of the global smartphone market share, meaning that more than three out of every four smartphones worldwide come from them.
The growth of smartphone purchases and the increasing use of mobile devices show how important it is for your repair store to keep up with this trend. Even if you don't sell products online, it's important that customers can easily find you via their phones. A mobile-friendly website can persuade them to make an appointment right away, and should you do offer products, it increases the likelihood of online purchases.
Market leaders such as Apple and Samsung have an important role in encouraging mobile shopping and together own a large market share, reflecting the popularity of their products. Capitalizing on this by stocking a variety of Apple and Samsung parts is smart. For mobile repair stores, this offers not only the chance for more customers, but also the opportunity to offer additional services such as accessories and advice on mobile usage and maintenance.
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