Updated: June 23, 2021 11:04:35 am
Online sales accounted for about 26% share of the global mobile phone market in 2020, according to a report by Counterpoint Research. The recently published Global Online Smartphone Market Growth and Trends report signifies that around one in four mobile phones sold were purchased online last year.
The report cites Covid-19 for playing a major role in this change in consumer behavior. India is said to have accounted for the highest online share at 45%, followed by the UK at 39% and China at 34%.
The share of online sales of mobiles is said to have increased by around 6% points in 2020 compared to the previous year. As far as market size is concerned, it is said to have increased by more than 10%. The report states that this trend was also strong in emerging markets such as India and Latin America in addition to advanced markets such as the US and Europe.
In China, it trend is said to have peaked in the first half and lessened slightly in the second half of the year. In contrast to the same, US and India are said to have recorded the highest ever online share in the second half of 2020.
The study further predicts that this emerging trend of increasing online shares will soften for some time and this year will be either similar or slightly lower than last year. “After the rapid growth in 2020, we expect 2021 to see some easing after the COVID-19 vaccination. However, it is expected to grow slightly every year from 2022 onwards, supported by growth in emerging markets and the middle-aged population becoming more accustomed to IT devices and internet use.” Sujeong Lim, Senior Analyst said while commenting on the trend.
“But in the case of India, which currently has the highest online proportion, it may decrease to a certain level after 2022 due to the development of offline infrastructure such as multi-brand stores and large-scale retail stores. On the other hand, the future growth of the online market in SEA and MEA is noteworthy.” he added.