Trends in M-commerce – Is Your Business Ready?
Is your business ready for mobile commerce in 2019 and beyond? Can your business create mobile experiences that will satisfy both new and existing customers’ needs? Mobile commerce or m-commerce simply means the use of smartphones and tablets to carry out transactions online. It includes everything from purchasing of goods using digital wallet, e-commerce, in app purchases to mobile banking. However, our focus here is on e-commerce.
Whether, you’re a general consumer, a marketer, a business owner, or a techie, the fact that the world commerce is moving to mobile phones and smart devices shouldn’t be a new information to you. By 2020, the world m-commerce is expected to surpass 2.3 trillion and according to experts, m-commerce will account for about 60% of e-commerce transactions by 2021.
That said, here are some of the trends in mobile commerce:
Of course, you already know that modern-day shoppers are always glued to their mobile devices. Desktops are practically old school and not much people make use of it when they are searching for stuffs online. Bulk of the time spent on mobile devices online are spent on some sort of app, whether it’s on social media platforms, messaging or most importantly shopping.
The importance of e-commerce native apps is debatable, but there is no denying the benefits to any e-commerce brand when it comes to the ability to track and reach both old and new customers through app notifications. In addition, having a storefront app for your business means a more personalized experience for buyers.
According to Criteo’s worldwide research in 2018, mobile purchases have outgrown that of tablets and desktops in every country, and that more than 79 percent of mobile phone users have carried out a purchase transaction with their smartphones in the last 8 months. This shows the importance of keeping track of mobile share of your company’s e-commerce transactions. If your website is not yet 100% mobile friendly, you’re certainly leaving a huge part of the market share to your competitors.
Communication is the main use of mobile phones. This is why people rely on apps to stay in touch with families, friends, and co-workers all day long. Such platforms like Instagram chat to WhatsApp, Facebook messenger and Telegram are various ways people stay in touch. It’s no surprise then, that businesses have recognized the potential of communicating with their customers through these platforms.