Digital transformation has paved the way for M-Commerce to rule this highly competitive business world. With people eventually shifting from desktops to smartphones for performing regular tasks, businesses are making a paradigm shift.
Statistics like 79% of smartphone owners take relevant action on their phones in “I Want to Buy” moments have helped M-Commerce to travel a long way since its birth in 1997. And it is going strong since then.
Mobile apps make businesses more personalized and interactive, thereby helping users to ‘feel’ the business instead of just ‘doing’ the business. It is quickly becoming a vital factor to stay robust in today’s business environment.
Even the stats from Black Friday 2018 revealed that more customers than ever are shopping via smartphones.
Penetrating deep into the world of mobile applications will help eCommerce businesses to experience various benefits.
M-Commerce sales are forecast to make up 44.7% of total US e-commerce sales in 2019, up from 39.6% in 2018.
What is the reason behind such a huge rise?
The reason for such a tremendous rise is intuitive mobile browsing, which, in turn, drives the sales.
‘Speed’ is a vital factor in today’s fast-paced digitized era that defines business success or failure. A 1-second page delay could lead to cost you $2.5 million in lost sales every year if your e-commerce business is making $100,000 per day.
Since there is no requirement of pulling the data from a server in case of the mobile app, thus the purchase of products become faster with it. This is the reason that Amazon has transformed itself into an M-Commerce powerhouse that generates approximately $5 billion in annual mobile commerce sales.
Easy and Secure Mobile Payments
For most of the consumers exploring the e-commerce, security and convenience are the two important parameters that they expect before making any purchase. Hence, they are looking for more effective and easy ways to pay for their selected products.
This is the reason that with the advent of M-commerce in the online business world, the digital-wallet market also kicked up and it is expected to rise by about 32% from 2017 to 2022.
In-app payment offers a more personalized environment for the users, thereby setting a stage for them to easily and securely pay within an application through a single click. Moreover, it is user-friendly in a sense that the transactions made through it don’t require third-party payment gateways.
For instance, Android users can make use of the Google Wallet, while iOS users can pay via Apple Pay. Mobile wallets are another way of payment that allows customers to maintain a pre-paid account from which amount can be debited, whenever a purchase is made.
The merchants involved with Shopify had tools to deal with mobile-first preference among the Black Friday shoppers. Shopify Pay, Apple Pay, and Google Pay all amalgamated to streamline the process of checking out, making it quick and easy to complete the purchase on any device.
Better Customer Experience
Fast, easy, and efficient navigation is what the users look for. A streamlined and smooth shopping experience satisfy the user and it also pushes them to return again to your mobile app in expectation of the same experience.
A fast, personalized, and interactive mobile app helps to improve customer retention, which, in turn, drive sales and boost loyalty.
The strategy of driving repeat business through a single click excluding the headache to re-enter the information time and again, helped Amazon to be a successful leader in the M-Commerce world today.
Did you know that 83% of customers use smartphones inside the physical stores? And the apps they mostly use in the store are Facebook, Google, and Amazon in the same sequence. The same report suggests that Amazon and Google are on the list to compare prices in stores.
Hence, people are familiar with how to reach their desired product through a few clicks on their mobile phones. They just seek smooth customer experience, which mobile apps are capable to deliver. To achieve these goals of excellent customer experience, make sure your mobile app is:
Omnichannel Experience for the Users
A study held upon 45,000 shoppers by Harvard Business Review reveals that only 7% were online-only shoppers — 73% of shoppers used multiple channels during their shopping journey.
Hence, consistent customer experience across all channels — M-Commerce, desktop, and e-commerce helps your business to outsmart all your competitors.
E-Commerce businesses driven through mobile commerce have plenty of opportunities to promote and boost their brand identity on various channels. Discount coupons, notification pushes, daily deals for registered customers on every social platform helps your business to encounter heaps of customers to make a purchase from your brand. All these factors contribute towards a seamless Omni-channel experience. Regardless of the channel through which customers end up completing a purchase, every interaction with your product and brand affects the customer experience and the likelihood of conversion.6
Present and Future of Beneficial Business Relies on m-Commerce
More than 1 billion people are using smartphones to daily visit online sites and no doubt, mobile shopping is in trend like never before. Mobile application and M-Commerce are moving together hand-in-hand towards the phase of expansion.
Mobile commerce apps are transforming the way customers shop and the way companies get-to-know their customers. It helps provide a seamless shopping experience for the users while gathering their buying habits, which, in turn, drive sales. Hence, the future of m-commerce has already arrived – invest in it to derive optimal benefits!
About The Author: Hi, I am James Wilson, I love writing on various topics, be it a technical or non-technical. I have started out as a quality analyst at Net Solutions and moved onto business analysis, where I discovered my passion for information architecture, wireframes, and user experience. I have solid experience in business analysis and am now interesting myself in day researching rapid prototyping methods. Connect with him here on Facebook, Linkedin, Twitter, and Instagram.
Feature Image by Photo Mix from Pixabay