Over the past few years, mobile commerce (m-commerce) has blown up in popularity. More people increasingly turn to their smartphones and tablets for banking and shopping. This is why m-commerce apps became vital to these businesses.
Shopify projected that the 2024 mobile commerce market is expected to reach a mark above USD 620 billion. People rely on the convenience of their mobile devices for purchases and financial transactions.
In 2024, apps for m-commerce will be used by experienced innovators and newbies looking to change how we do our shopping and banking.
Here are the top 10 m-commerce apps that are considered a major success in 2024:
1. Amazon app
Unsurprisingly, the Amazon mobile shopping app enjoys the title of the leading m-commerce app. It is undoubtedly the most used shopping app, with over 290 million active users globally. The app allows customers to search, track orders, read reviews, compare prices, and buy products.
The Amazon App offers an extremely convenient way of shopping through one-click ordering, tailored suggestions, and connectivity with Alexa. In 2024, amazon will grow its payments on mobiles and deliver groceries to fuel through the app.
2. Walmart
Walmart has become a major competitor in m-commerce. Walmart app boasts over 100 million active users who depend on the app for home-delivery service providers. Walmart is taking on Amazon’s e-commerce dominance through its extensive network of traditional stores, which provide convenience through in-store pickup and same-day delivery.
Walmart will attempt to displace some of Amazon’s market share in 2024 by enhancing customization within its apps and adding more convenient delivery channels. Walmart is also testing Walmart+, a new membership program that will compete with Amazon Prime.
3. Shopify
Shopify powers the e-commerce operations for over 1 million businesses worldwide. The Shopify mobile app allows store owners to manage every aspect of their business from the palm of their hand. Key features include order tracking, inventory management, customer engagement, and POS capabilities.
Shopify will likely expand its mobile app features for payments, staff management, and analytics to empower entrepreneurs to run their businesses from anywhere. The app will also leverage Shopify’s partnerships with social media platforms like TikTok to help merchants reach new audiences.
4. PayPal
As a pioneer in digital payments, PayPal remains a top choice for mobile transactions and m-commerce. PayPal has over 400 million active user accounts globally. The PayPal app allows users to securely send and receive money, pay bills, and checkout at millions of retailers.
PayPal will focus on expanding its payment services for cryptocurrencies and high-growth areas like buy now, pay later financing. It will also enable more in-app shopping and payments through integrations with popular m-commerce apps.
5. Zelle
Owned by a consortium of major US banks, Zelle offers a fast and easy way to send and receive money directly between bank accounts. Over 2.3 billion transactions were sent via Zelle in 2022 alone. Its wide adoption has made it a popular payment method for e-commerce and m-commerce apps.
Zelle will likely see continued volume growth as more users transition from cash and checks to mobile peer-to-peer payments. Expanding partnerships with banks and integrating commerce apps could strengthen Zelle’s position in the m-commerce payments space.
6. Venmo
Owned by PayPal, Venmo has carved out a niche among younger consumers who use it to split bills and expenses quickly. The Venmo app boasted over 60 million active user accounts in 2022. It has successfully leveraged social features that allow users to share payment activity with friends in their network.
In 2024, Venmo will expand its e-commerce and m-commerce capabilities to become a broader digital wallet solution. It recently introduced pay with Venmo buttons that merchants can add to their sites and apps. More embedded payment options via Venmo could boost its app transactions significantly.
7. Mercado Libre
Latin America’s e-commerce giant MercadoLibre has its own m-commerce app that caters to the region’s underserved Spanish-speaking population. The app allows users to list products, shop from small businesses and enterprises, access financial services, and more. It has approximately 267 million registered users in Latin America.
Mercado Libre plans to offer more delivery and logistics services through its app. It aims to strengthen its mobile marketplace and fintech offerings as internet and smartphone penetration increases across Latin America.
8. Uber
While best known for its ride-sharing app, Uber has aggressively moved into m-commerce via services like Uber Eats. Uber Eats has over 95 million monthly active users globally who rely on the app for restaurant food deliveries. Uber is also piloting package delivery services in select markets.
In 2024, Uber plans to scale further and expand its delivery services, which partially insulated it from the demand drop in ride-sharing during the pandemic. Integrating third-party offerings into its app could help Uber become a super app for all on-demand needs.
9. Afterpay
At the intersection of m-commerce and Fintech is Afterpay, which has emerged as a leader in the buy now pay later (BNPL) space. Afterpay allows shoppers to split purchase payments over 4 installments with zero interest. It has over 16 million customers and counting.
Afterpay aims to achieve deeper integration with major e-commerce and m-commerce platforms as it eyes global expansion. Enabling more flexible financing options could give Afterpay a competitive edge over traditional payment methods.
10. Alibaba
China’s massive e-commerce marketplace Alibaba offers a popular m-commerce app called Taobao that caters to Chinese consumers. Taobao boasted over 1 billion monthly active users on its mobile app during its 2022 fiscal year. It offers everything from groceries to luxury goods.
Alibaba aims to fortify Taobao’s mobile social commerce experience through features like live-streaming. China’s recovering economy could also reignite demand for shopping and selling through Taobao after a slower 2022.
Key mobile commerce app trends for 2024
Based on the developments across top apps, here are some notable m-commerce trends to expect in 2024:
- Faster deliveries through more embedded fulfillment options. Apps will integrate delivery features more seamlessly, including ultra-fast grocery delivery via self-driving vehicles and drones for retail purchases.
- Expanding financial services, turning m-commerce apps into fintech hubs. Apps from Amazon to MercadoLibre will offer more mobile banking, lending, insurance, and crypto transaction capabilities.
- Greater personalization powered by AI and ML technology. Apps will leverage data analytics to create customized shopping and financial experiences.
- Mobile wallets replacing cards and cash. More consumers will pay via mobile wallets like Apple Pay than physical payment methods.
- AR and VR are going mainstream for m-commerce. Apps will use immersive technologies like virtual try-ons more extensively to engage mobile shoppers.
- Video commerce via live streaming and short-form video. Apps are embracing platforms like TikTok and livestreams to blend entertainment with shopping.
- Local commerce focuses on hyperlocal delivery and services. Apps will provide locally tailored selections and faster delivery times.
- Sustainability features to reduce waste and emissions. M-commerce apps will offer carbon footprint trackers, EV routing, and recycling options and promote sustainable goods.
Simply put, your choice of an eCommerce development company in 2024 will determine the success of your m-commerce app. A good offshore company will have the necessary tools, resources, and know-how to develop a user-friendly and efficient app that will meet your target customers or users’ expectations. They will also need extensive knowledge of the latest trends in mobile commerce, including AI, ML, analytics, and cloud computing.
The future is mobile
The apps mentioned above represent just a sampling of the innovative m-commerce solutions changing how consumers interact with brands, shop, pay, get financing, and more.
With smartphones becoming the remote control of daily life, companies need a solid mobile commerce strategy to engage today’s on-the-go consumers. Those that effectively blends convenience, personalization, entertainment, and sustainability features will shape the future of m-commerce.
