Online sales have revolutionized the previous concept of shopping. Nowadays, we can purchase goods without having to leave home, all thanks to the mobile devices we own. I decided to take a closer look at this phenomenon and see what role mobile commerce plays in the context of non-stationary shopping.
Table of Contents:
1. The rise in popularity of mobile shopping
2. The omnipresence of mobile devices
4. Key Components of mCommerce
5. The Impact of the Covid-19 Pandemic
6. Why invest in an mCommerce app?
7. Current Trends in mCommerce
8. Payment solutions in mobile commerce
9. Trust Railwaymen to build your mCommerce platform
The rise in popularity of mobile shopping
According to Ethan Cramer-Flood in his latest report for EMARKETER, e-commerce sales will exceed $6 trillion by 2024. Moreover, digital sales will account for 20.1% of all sales. The projections for this trend appear to be growing steadily. Developments in technology and consumer conditioning are making us more and more willing to buy online. An additional impetus for mobile shopping is the increasing daily usage time. The record-holders, according to a study by analysts from data.ai, are Brazilians and Indonesians, who use smartphones for 5.4 hours a day. The podium in this list belongs to South Korea, where the average daily usage time is 5 hours.
The omnipresence of mobile devices
Nowadays, it is increasingly difficult in urban areas to find a person without access to a smartphone. Our modern life is becoming more and more conducted through a few inches of screen. This is especially recognized by companies involved in the sale and distribution of products, as we can now purchase many products and services through online stores or dedicated apps. And so we come to the phenomenon of mCommerce, which has become a widespread and growing phenomenon in the past several years.
What is mCommerce?
Well, but what exactly is mCommerce? Mobile Commerce is services, purchases made via wireless mobile devices such as laptops, tablets, smartphones. mCommerce is a derivative of eCommerce (electronic commerce). However, in the case of mobile commerce, it is limited to all transactions and purchases made through apps and dedicated websites for mobile devices.
Key Components of mCommerce
The definition of mCommerce delineates the breakdown of activities attributed exclusively to this phenomenon. It includes online shopping, i.e. any purchase of products and services from online entities via mobile devices. Mobile Commerce also includes online banking, the management of bank accounts held online and the execution of all mobile payments. Not to forget all purchases of digital content in the form of various streaming services and services provided through a subscription model. The main premise of mCommerce is to enable users with convenience, accessibility and dedicated shopping experiences. All this in order to be able to provide any sense of lack in consumers when they occur, instead of being dependent on the opening hours of a stationary store.
The Impact of the Covid-19 Pandemic
The interesting phenomenon cited by EMARKETER is the impact of the Covid 19 pandemic on the development of the mCommerce market worldwide. At that time there was a significant increase in interest as well as in the use of mobile applications. In addition, online shopping has become a widespread phenomenon and, due to the limitations of traditional sales, has taken modern consumers by storm.
During the pandemic, lockdowns and social distancing measures forced consumers to change their online shopping habits. The global situation accelerated the adaptation of mCommerce among consumers at an extremely fast pace. Companies that previously based their business on traditional store outlets had to learn the new reality by giving themselves a chance to survive by appearing online.
A consequence of these changes was also the need for a robust digital infrastructure. Having a functional, customized and properly secured digital platform became prime qualities for anyone looking for opportunities for themselves in the new field. This period underscored the need for companies to invest in mobile-friendly websites, user-friendly apps and efficient online customer service channels.
Why invest in an mCommerce app?
There are many visible benefits for which you should be interested in developing an mCommerce application. One of the most frequently mentioned is the convenience that comes from the shopping model itself. A smooth yet intuitive shopping experience via a mobile device is capable of satisfying all the needs of even the most demanding customers. In addition, mCommerce applications are able to engage such a consumer group more through special offers, recommendations and similar systems that bind the audience to the brand. Such activities stimulate the conversion rate and create loyalty for years.
From the point of view of the mCommerce application owner, it can be a benefit not only to have a sales platform, but an analytical tool that monitors consumer behavior, allows to determine appropriate promotions or identify trends. With traditional sales, it is difficult to perform such deep analysis. In addition, push notifications sent by apps allow users to be notified of special offers and promotions anywhere in the world and make a quick decision to make a purchase.
Current Trends in mCommerce
Just as in the eCommerce sector, it is crucial in Mobile Commerce to stay abreast of current trends. All this to remain competitive in the market. Among current mCommerce trends, it's hard not to notice the growing interest in augmented reality (AR). This modern technology fits well with mobile shopping applications. Particularly in terms of product visualizations that help with the purchase decision. The development of AR in the context of an app being a sales platform is not only an innovation, but also to reduce returns and provide customers with exactly what they expect.
Another trend is the development of social commerce, in which shopping is an integral part of social networks. This trend uses the power of social networks to drive sales, making it easier for users to find and purchase products without having to leave their favorite apps. Companies are also increasingly adopting chatbots and AI-based customer service tools to provide immediate support and improve the overall shopping experience.
Payment solutions in mobile commerce
It's time for the most important aspect of any sales application, payment solutions. It depends on them whether the customer is willing to pay for his purchases without worrying about his means of payment. Also, it determines whether the payment process will be properly integrated with the device they own. Mobile wallets, such as Apple Pay, Google Wallet and Samsung Pay, are becoming increasingly popular because they allow fast and secure payments. When choosing payment methods, it's also good to have an understanding of local conditions. This is especially true if the company aims to reach global customers in areas of the world with special conditions.
Security is a key in mCommerce, and implementing robust security measures such as encryption and biometric authentication can protect customer data and build trust. Ensuring a smooth and secure payment process can reduce abandoned shopping carts and increase customer satisfaction.
Trust Railwaymen to build your mCommerce platform
When it comes to developing a solid and user-friendly mCommerce platform, trust Railwaymen's experience and commitment. Our team of experienced professionals is familiar with the latest mobile commerce trends and technologies, ensuring that the platform is not only cutting-edge, but also tailored to your specific business needs. With a focus on a seamless customer journey, secure payment solutions and personalized user interactions, we deliver an mCommerce platform that increases engagement and sales. Choose the Railwaymen partnership and take your mobile shopping experience to the top level.
Source of images: https://pixabay.com/
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