The Importance of Mobile Commerce in eCommerce Growth
Did you know about 70% of online shopping happens on mobile devices? This indicates the growing importance of mobile commerce and its efficiency in giving a competitive advantage to your business.
According to Statista, mobile e-commerce sales hit 2.2 trillion U.S. dollars in 2023, accounting for 60% of global e-commerce revenue. The study also claims that mobile commerce will account for 62 percent of the whole e-commerce sector by 2027, up from 56 percent in 2018.
Clearly, the future of shopping is mobile. Do you want to know how m-commerce growth can benefit your business? This article will answer all of your questions.
What is Mobile Commerce?
Mobile Commerce or m-commerce refers to the transactions specifically done through portable devices such as smartphones and tablets after an online purchase. M-commerce enables customers to pay bills, purchase and sell products and services, make online bookings, and perform other commercial activities using only their mobile devices.
Forbes categorizes the process into three kinds, mobile shopping, mobile banking, and mobile payment. Mobile users are continuously rising and therefore, providing a seamless shopping experience across all devices has become a necessity.
6 Advantages to Understanding the Importance of Mobile Commerce
There are various advantages of m-commerce that will help your organization boost revenue, gain customer trust, provide them with a user-friendly interface, and achieve long-term success.
1. Provides Hassle-free Shopping Experience
M-commerce is gaining popularity because buyers want simple navigation and real-time responses to their questions. Shopping apps accessed via mobile devices provide faster checkouts, eliminating the need to enter long billing information. The apps load faster in mobile devices even with a slow internet speed making it a hassle-free experience for customers.
2. Enables Fast Transactions and Digital Wallet Integration
Customers expect to make transactions with fewer clicks. M-commerce allows for single-click checkout process that integrates smoothly with Google Pay, PhonePe, Apple Pay, and other digital wallets. Pre-filled payment information and simple verification with fingerprints or facial recognition speed up the checkout procedure after making a purchase.
3. Enhances Retail Sales
M-commerce not only enhances online retail sales but also generates revenue for physical stores. Customers always use their mobile devices to search for a particular product or service, check reviews, compare prices, and then decide to buy. This works for both online and offline marketplaces. This will ensure that you are serving a wider target audience.
4. Provides Actionable Data Insights
Mobile apps can help you gain meaningful insights, understand your customers’ needs, and effectively engage with your target audience. You can collect information data such as name, gender, contact details, and purchasing history with different analytics tools available in the M-commerce platforms.
5. Lowers Costs and boosts productivity
You can cut marketing costs by customizing mobile marketing campaigns using social media, influencer marketing, push notifications, email marketing, and so on. M-commerce platforms can automate routine processes like billing, order processing, and addressing customer queries with chatbots. This ultimately leads to higher sales and conversion rates.
6. Prioritizes customer experience
You should constantly prioritize customers, and m-commerce growth can help you do so. This includes a fast-loading shopping app or website, fewer steps from adding products to cart to completing payments, understanding customer demands, responding to queries in real time, and providing round-the-clock support.
Trends that dominate the importance of Mobile Commerce
Consumers today want a convenient shopping experience accessible from anywhere, anytime, on their mobile devices. This is giving rise to mobile commerce, with innovative trends that prioritize a frictionless path of shopping.
- AI-driven Search
AI technology has a significant impact on m-commerce growth since it provides more than keyword matching in search and thoroughly understands user intent. It optimizes search results based on purchase history, location and trending items too. It enables innovative search practices like voice and visual searches as well.
2. Influence of Social Media
Social media giants like Instagram and Facebook have become breeding grounds for trendsetting products and services. Millennials and Gen Z use these platforms to discover unique products and try to keep themselves ahead of the curve. Since social media highlights a constant stream of interesting products, it has a major influence on m-commerce.
3. Marketplace Apps and Websites
These platforms bring together a wide range of products and services under one digital roof to choose from. This empowers users to browse, compare, and purchase from a wider collection than any single online store could offer. Also, customers can check reviews, read descriptions and buy with multiple payment options. It’s like accessing a giant virtual mall at your fingertips.
4. Voice Shopping
The role of voice assistants such as Alexa, Siri, and Google Assistant is worth mentioning here because they are dominating the voice search intent while enabling m-commerce growth. These voice assistants typically respond faster than typing and can interpret natural language inquiries. This is also extremely convenient for people with disabilities who have difficulty typing and shopping online.
5. Personalized Recommendations
Mobile commerce apps and websites use a range of data points and strategies to generate personalized suggestions for customers based on browsing habits, purchase history, content search, and other factors. Shopping platforms may introduce customers to new products they might have missed otherwise, as well as nudge them with attractive discounts and offers, thanks to personalized recommendations.
There are also other rising trends that is significantly influencing M-commerce consumers and making India a powerhouse of m-commerce growth.
Bottom Line
Mobile commerce is becoming an increasingly important factor of e-commerce growth. Its convenience, personalization, and evolving features are transforming the future of how we shop, providing customers with a seamless and engaging experience.
Don’t let your customers slip away. Optimize your mobile commerce journey with us and boost your sales. Contact us for a free consultation today.
