Mcommerce is fueling ecommerce growth. Mobile will account for two-thirds of net online sales growth between 2024 and 2028. Mcommerce (sales made on smartphones, tablets, and other mobile devices) will represent nearly $316 billion of the total $476.64 billion in incremental retail ecommerce sales growth through 2028.
Why this matters: This tie-up can make Synchrony鈥檚 Pay Later options much more widely available both in stores and for mcommerce purchases, boosting Synchrony鈥檚 BNPL volume. And the rewards integration will help make Synchrony a more competitive issuer. Discover already has the same partnership with Apple Pay, and we expect other issuers to follow suit.
Mcommerce continues to gain share of online retail sales. Mcommerce sales will rise 6.0% in 2024 to reach $310.49 billion this year. Growth is supported by an increase in the number of people buying via mobile devices. In the former EU-5 countries, there will be 141.6 million mobile buyers in 2024鈥攗p from 116.8 million in 2019鈥攔eaching over 150 million by the end of 2028.