Mobile commerce is the most popular medium of eCommerce for the new-age generation. Customers are shifting their preference towards online retailers for their daily purchases, no matter if it’s big or small.
Everything can reach the end-users with the help of ecommerce. M-commerce has made it much simpler for them by providing product access at their fingertips.
According to a recent report, “the use of mobile commerce is expected to increase the sales by $432 billion by the end of 2023, which was $148 billion in 2018.” This statement can clear the higher use of mobile commerce for accessing the product online.
Today, we will discuss the core aspects of mobile commerce and the new trends stored for the future along with benefits.
Why Choose M-Commerce?
Mobile Commerce is a powerful method for growing business in the modern period. All kinds of businesses can benefit from this device. It helps the customer to connect with the merchant instantly.
With the help of a mobile device, businesses can connect with many customers easily. It will allow the customer to access the product from anywhere by cutting down the global boundaries. It will eventually help to raise sales by offering a quality experience to the end-users. Let’s find out the core reason to choose this approach for your business.
Prompt Purchase
Customers can easily make speedy mobile commerce purchases using their devices to browse more quickly. As opposed to the eCommerce website, it has been simpler because retrieving data from the server is no longer required. More convenience and more prompt purchases are the results.
Custom Content
Mobile commerce allows the business to learn some major aspects and details about the customers that help to make their shopping journey more interesting. It will gather more unique data related to the customer for making more personalized information that will help the end-users connect better with the product or services.
Push Notification
The easiest way to assist your customers to interact with your products more effectively during their busy hours is to send push notifications. To make the consumer purchase journey more efficient and enjoyable, businesses can send emails, notifications about the relevant offers, price decline alerts, reminders on cart lists or wishlists, and more.
Types Of M-Commerce
The mobile commerce approach has come up with various types; the core segments are mentioned below:
- Mobile shopping apps
- Social commerce
- Mobile Payment apps
How Mobile Apps Are Influencing Retail Commerce
When discussing mobile shopping apps, you can’t miss the retail commerce. This application is specifically focused on retail business. A few examples of these mobile shopping apps are Amazon, eBay, Etsy, Argos, and many more. These are the key players in the retail market for the UK region.
These companies are developing and launching shopping apps for mobile devices to connect with their customers easily and more engagingly. It helps to connect their customer more simply through their apps. With a mobile application, buyers are also able to browse a wide range of products without connecting to their server.
This is raising the preference for mobile apps compared to the website. A recent survey states, “More than 54% of customers prefer to use mobile shopping apps for retail business for more convenience and comfort”.
Besides, in the mobile apps, the checkout process is also simple. Users can get the privilege of getting a one-click checkout process. With these exclusive features of mobile applications, customers can quickly connect with their product at any time without a hassle.
It’s making the retailers reach potent customers more easily, resulting in better ROI. Hence, investing in mobile shopping apps can be highly beneficial for the retail business.
Social Commerce For Better Customer Retention
Social media has become a core part of our lives; it’s not limited to connecting with friends and family but also helps to connect with potential businesses.
Statista has found that the sales in social media platforms are increasing by $1.298 billion by the end of 2023; it’s also predicted to reach $3 trillion by 2026.”
It helps them to reach a wide audience and sell them better than ever. In social media commerce, brands get a better chance to improve customer delight by making their shopping experience more enjoyable.
For example, you are scrolling through your social media platform like Instagram or Facebook, and you like a product that can be instantly connected and purchased by bypassing the need to reach their landing page. It makes the customer consume their preferred product in a better manner.
Besides, social media is also helpful for conducting marketing promotion in a better manner. The most common media platforms are Instagram, Facebook, Pinterest, and many others; these platforms are helpful for connecting quality customers more conveniently.
It helps save the business’s marketing expenses and reach the end-users more quickly for better engagement and conversion.
Mobile Payment The Rise Of The Digital Era
The most practical payment apps for smartphones are those that let you send and receive money freely to friends and family. But this can also play a part in the eCommerce industry and is not just used for sending and receiving money for personal usage.
Any payment app can be connected to the required shopping apps easily; it will help conduct the purchase process more conveniently without adding cards or net banking details. These applications are designed to give one one-click purchase experience to the end-users to improve their experience to the heights.
Mobile and digital payments are increasing daily due to the higher benefits and convenience. According to Worldpay’s analysis, “By the period of 2024, the mobile wallet market will grow by 53%, and it’s expected to gain a market value of $350 billion by the end of 2026.
Implementing these applications might be a terrific way to provide the greatest experience to your consumers. The most common and popular mobile wallets are Apple Pay, Google Pay, PayPal, and lots more. Connecting with this application can also help improve the easy purchase and ensure a better user experience.
New Trends In Mobile Commerce That You Can’t Miss
With the growing use of smartphones, the demand for mobile e-commerce is equally increasing. It has various benefits for connecting the end-users with their preferred products more conveniently.
With technological development, new trends for mobile commerce are also growing in the market. Let’s explore the upcoming and future trends of m-commerce that can be a savior for your business growth.
Voice Shopping
Imagine you are getting your desired products just by saying it! Voice shopping is just what can give you this experience. You can search for any product just by saying it, and you will be redirected to the exact product.
Earlier, voice assistance was used to research the common factors. But with the innovation, this mechanism has now made its place in the field of eCommerce. The major use is searching for products and services easily without struggling to find them from a pile of products.
According to recent research, more than 51% of users prefer to use voice search; among them, 22% are already using it for making better purchases. This number is predicted to grow in the upcoming years due to the higher benefits and convenience for the end-users.
Hence, connecting the voice search option in your eCommerce application can be a great solution for boosting the customer experience in this digital era to ensure a better conversion rate.
Visual Search
The term visual search is used when a customer searches for their product through images instead of keywords. It helps the customer get things more easily; with the visual search, the end-user can search for any kind of product, even if it’s unknown to them.
While conducting a visual search, the possibility of getting exact or similar products in the display becomes simpler and easier. Due to its higher benefits, this approach is increasing in a large number.
This process is the impact of the AI, as the image search process is developing with the help of the same mechanism. It is getting more popularity in the eCommerce business due to the highest use of product search.
Users can get their desired product quicker, which will help them down the struggle of looking for their preferred product, resulting in higher customer delight and, finally, a peak in profit.
One-Click Shopping
With the help of mobile commerce, the process of e-commerce shopping has become much easier. Due to mobile responsiveness, users can benefit from one-click shopping for their desired products. It’s also making it simple by providing the auto-data-filling option for better order processing.
It’s eventually cutting down the need for manual data entry, saving consumers major time and effort, resulting in better customer experience and conversion. With the help of simple order processing, the issue of abundant carts can also be solved.
This is because, most of the time, individuals tend to leave their products on the cart due to following a complex and lengthy process. With the help of a simple one-click shopping process, the complicated problem can be simplified.
Use Of AR And VR
AR and VR are the most useful technologies for today’s business world. These two tools are already used in mobile commerce and are expected to grow in the upcoming years. According to Statista, the AR and VR market is expected to reach $35 billion by the end of 2025.
Most of the growth is expected from Mobile Commerce, as people are more comfortable using it for doing their online shopping. This approach allows the customer to get the experience of a more personalized choice.
For example, if a customer is looking for clothing, and you are the retailer. Choosing the AR and VR options can be beneficial for providing them with the actual dimensions of their preferred product from the virtual showroom. It will help you try the product by customizing your size, color, design, and material for a better experience.
With this quality experience and more engaging visuality, the customers are eventually able to get the most enjoyable shopping journey, leading to higher profit and sales.
Mobile Chatbot
The mobile chatbot has become more popular in recent days; specifically for online platforms, it has created a standard. With the help of a chatbot, customers can connect with the support team at any time. It helps them quickly resolve their issue, which is useful for improving customer experience.
Besides, with a powerful chatbot, end-users can find their products more conveniently and get information about potential updates for making informed decisions. By providing these benefits, the businesses can improve their customer’s journey and, finally, their loyalty towards their brand.
Implementation Of Omnichannel
The application of an omnichannel approach is advantageous in today’s world.
As the internet business is connected with numerous devices and mediums, the role of multiple channels is critical in eCommerce. It’s required to have an omnichannel to connect these properly.
Most users nowadays prefer to conduct product research before consuming it from in-store and other sites. Therefore, providing them with the right experience is very necessary. It can be possible by approaching the omnichannel platform.
It will help align with the customer experience better to ensure they are getting the best experience. This technique will increase in the following years; hence, investing in it might be a smart move for the eCommerce industry to secure a beneficial outcome.
Final Word
The expansion of outstanding client experiences and the development of long-term profit are two main advantages of the mobile commerce sector.
With the help of innovative and evolving technologies, this business, particularly the eCommerce industry, is modernizing in order to flourish.
Due to their alignment with consumer expectations, the forthcoming trends in mobile commerce are also beneficial for enhancing business growth. Get in touch with industry professionals to understand mobile commerce in a better manner for a great business’s reach.
Originally Published At -What is Mobile Commerce? Mobile Commerce Trends to Watch for in 2023
No comments yet