Insights from Our Experts
Why mobile commerce is the future of eCommerce
Mobile commerce is one of the most popular eCommerce trends of 2020. If we look at the growing number of mobile users and ever-increasing penetration of the Internet, mobile commerce may soon redefine the online retail space. Mobile commerce is a winning platform for retailers to engage with their customers. With the right optimization of services and engagement, mobile commerce gives retailers the opportunity to break new grounds in online retailing.
What is mobile commerce ?
Mobile commerce or m-commerce is a subsequent evolution of eCommerce. It is the buying and selling of products or services using a mobile or tablet device. Mobile commerce lets customers enjoy the flexibility of doing online shopping using their mobile phones. And the only thing they need is an uninterrupted internet connection.
Why is mobile commerce important ?
There are 5.1 billion mobile users in the world and growing.
Mobile commerce sales are projected to reach $2.91 trillion this year.
By 2021 the share of mobile commerce is forecasted to reach 72.9% of the overall eCommerce sales.
Mobile commerce will continue to rise, and the signs are strong to believe so. People are spending more hours on the internet and social media, and a majority of traffic is through mobile phones. It is a ripe opportunity for retailers to have a mobile-optimized website or application to push their brand and business with an engaging interface.
What are the benefits of mobile commerce ?
Convenience and Better overall experience
Mobile commerce offers customers the convenience to shop whenever and wherever they like. The more responsive and small screen interface makes streaming across products easier and intimate. eCommerce and social media are more or less integrated these days, and it gives an optimal opportunity for retailers to increase their brand visibility and maximize sales through social media. Also, mobile commerce makes features such as chatbots and messengers more potent. The interaction can happen on applications with which the customers are already familiar with, and prefer using.
Mobile commerce brings an engaging proposition to improve sales of brick-and-mortar stores also. Businesses with an omnichannel presence are more likely to be recommended, and retailers can take advantage of the ease of sharing that mobile applications offer. Mobile commerce aids in achieving sales based on where the customer is present.
Wide choice of Payment Options
The argument is not about moving over cash or card payment. Mobile commerce lets retailers integrate an assorted range of payment options. It is about providing all the choices or preferences that the customer would like to use. Mobile commerce offers the one-click checkout that customers want.
Why is mobile commerce the future of eCommerce ?
Mobile commerce is a part of eCommerce’s evolution, the result of bringing together two existing technologies; eCommerce and Mobile devices. Both these entities are growing exponentially and show no sign of slowing down. There has been a constant rise in the share of sales made through mobile commerce in the annual eCommerce business.
Customers today expect a more personalized shopping experience in terms of:
Customer communication (emails & messages)
Customized promotional offers & discounts
Mobile commerce enhances these personalization strategies. A fair share of achieving higher conversions,customer loyalty, and overall business growth lies in offering customers what they want. Mobile commerce gives customers the freedom to shop while traveling on a train or sitting in the loo. All retailers have to do is offer customers a responsive and engaging mobile-friendly shopping platform.