With the invasion of mobiles in the lives of retail customers, mobile Commerce is slowly soaring towards popularity. There has been an exponential growth in the number of mobile users as well as business adopting mobile platform. The number is slowly going towards 20 Bn, for the mobile phone users. At this point in time, it would be a folly if the businesses failed to adopt the mobile-first approach.
Apart from the usage perspective, you will see a change in the way consumers shop online. About 7.3 hours in a week is allotted to a mobile website, while close to 8 hours in a week is spent on mobile apps. It is seen that 7 in 10 users prefer a mobile site as compared to a mobile app. According to statistics, 88% of the shopping is caused by mobile with real time information availability. Some popular shopping stats show how m-Commerce is the next step for businesses. 40% research online but shop offline, while a good 32% research and shop online. In fact 73% of those who shop using their mobile believe it is a time saving option, while for 69% it is the mobility and convenience that comes along which is believed to be a part of mobile shopping.
Given such shopping trends and statistics, it is important for businesses to consider m-Commerce, and give it real thought. As a business, you need to strategize your mobile Commerce in 2016 keeping the different trends that will play along. Here, we will talk of four trends that you ought to keep in mind when strategizing your business.
Convergence of Online & Offline Worlds
It is possible that your customers are engaging with you across the different devices. An average American owns at least two digital devices out of a desktop, smartphone and a tablet, using which he/she can access your store online. They also interact with your brand in the physical world, thus blurring the lines between physical and online worlds. Some brands allow you to reserve your products online, try them offline, and then purchase them online, thus converging the physical and virtual worlds perfectly. Some stores offer mobile payments and loyalty rewards, thus helping convert better. It is not enough to concentrate on the virtual world alone; it is equally important to look at the virtual and offline world together and converge for the better of your business. The lines are blurring, which will affect your business positively. You need to sync the experience for the physical and virtual worlds.
Cashless Payments
Mobile wallets are the promising future of m-Commerce payments. With the introduction of Apple Pay, and Google wallets, and other such cashless payment systems, this is gaining commendable attention. You simply cannot ignore this growing trend when you are a virtual commerce. You will need to strategize your store to introduce cashless payments to make checkout easy and convenient for your customer. This offers security and easy payments to the customer, thus avoiding the probable issues that can occur with a credit card or other payment methods.
Social Commerce with Buy Buttons
Social media plays a pivotal role in e-Commerce. Social shopping has maximized the conversion rate for most businesses. Close to $3.3 bn was earned from social shopping. In fact, social shoppers are spending more money as compared to other category of shoppers. Many social media sites like Pinterest, Facebook etc. have introduced buy buttons, which has improved conversions for the business. Social is important for both traffic and conversions, and the buy buttons have improved profits for the business. So, when defining your business, don’t forget to include social commerce.
Focus on Mobile Moments
Consumers spend most of their time on mobile, especially when it comes to special moments, thus offering countless mobile moments to look through. Even when they are performing a task, the customer would be seen using a mobile. 64% of the consumers expect a site to load within 4 seconds, while 40% opt for a competitor website in order to gain good user experience. Complex navigations have led to cart abandonment. These mobile moments will offer better insight into how to engage your mobile consumer, and give him the user experience. It is important for most mobile Commerce businesses to keep an eye out for mobile moments, as that will guide them through their journey towards offering better experience and engaging moments on the site.
If you have been strategizing keeping these points in mind, you will be able to deliver better and your consumer will be retained. This will help improve your conversions and thus the profitability for your business.
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More About Author
Vishal Nakum
Vishal Nakum is a tech enthusiast with a passion for exploring the latest developments in the world of technology. He has a keen interest in emerging technologies such as Artificial Intelligence, Machine Learning, and Blockchain, and enjoys keeping up-to-date with the latest trends and advancements in these fields. Vishal is an avid learner and is always on the lookout for new ways to expand his knowledge and skills. He is also a creative thinker and enjoys experimenting with new ideas and concepts. In his free time, Vishal enjoys playing video games and reading books on technology and science.