Mobile commerce is rapidly growing especially in the last decade. As you’re curious to know about new technologies and mobile trends, There are new developments in fields including artificial intelligence (AI) or the Internet of Things (IoT). This makes developers build mobile commerce applications more engaging than ever.
- By 2021, mobile ecommerce sales will reach 54% of total ecommerce sales.
Read this article to know where mobile commerce will head in 2021 and the impact of its expansion.
Why Mobile Commerce
Mobile commerce has evolved as the king of transactions in this decade, as change is inseparable in technology and apps development.
- With the huge growth of 33.9%, mCommerce is considered the main shopping channel in 2021.
- In general terms, you can get double the amount of money than you invested. As major shopping is done on mobile devices.
What is Mobile Commerce
Mobile Commerce, also known as (mCommerce) refers to online transactions using hand held devices like smartphones and tablets. For example, online banking, paying bills, buying and selling products or services.
- Mobile conversion increased 30% (2015 to 2016).
- Mobile sales accounted for 10% of total purchases (BC stores).
- In 2016, mobile commerce sales increased by 31%
Types of mCommerce services
The eCommerce refers to online transactions, via mobile devices and the truth is it’s beyond that. Mobile commerce is not just buying things on mobile, and it’s the reason for emerging brand new industries such as:
- Ticket and boarding service
- Location-based services
- Information services
- Mobile banking
- In-app services
mCommerce and eCommerce
You may get sometimes confused with mCommerce and eCommerce, actually more people do that. They are different from each other and sometimes they are closely related without much difference in meaning.
ECommerce means Internet Commerce and Commerce on the Internet. In simple words, eCommerce means commercial transactions on the Internet and mCommerce is a large part of it. These two terms are used interchangeably because of progressive mobile apps.
Mobile-first and why the future is mobile
The mobile-first was coined by Eric Schmidt in 2004, it’s a revolutionary idea in design and development those times.
The mobile-first strategy in technology and development is proved to be the reason for growth across all mobile devices. As people prefer convenience over other things in this fast-paced business world.
- iOS users spend (18% more money) than Android users.
- Desktop average order value (AOV) is 53% more than mobile average order value AOV including (iOS & Android).
Advantages of mobile-first eCommerce
I would say that convenience is expected to be the eCommerce’s trademarks. People want everything to be convenient and easy, here comes the ease of mCommerce when traditional approaches couldn’t keep up with the work.
You can figure out the growth and popularity of mobile devices among people, as it is a useful multipurpose. The mobile device is useful for customers in banking, financial services, downloading media files, managing businesses, buying, and selling, etc.
Mobile commerce is consistently improving by utilizing the user’s information including location and assures for more revenues. The mobile shopping and mobile websites have increased the conversions rates of business owners.
This feature helps brands to track their consumers and provides services or products at the right time. Geotracking technology and programmatic advertising has helped retailers to reach their consumers even before they make purchase decisions. This increases the chances of making purchases more than before.
Ubiquity provides the advantage for brands to reach out to the audience who never used their services. Mobile commerce allows users to reach out to any brand within seconds of time using mobile devices. You will just need the Internet for accessing all this and there so no extra charges involved. There is an increase in mCommerce over the traditional approaches because of adults using smartphones more.
- Payment Options
Mobile Commerce has made simple payment options for customers and this barcode scanners ultimately helps businesses to save the cost of credit card terminals. Mobile commerce has changed the whole payment option for products and services into a new variety for its users on mobile platforms.
For example, Apple pay, Amazon pay and Gpay.
Mobile payment is becoming a quick, wireless, and effortless payment option over credit cards or debit cards. Anyone with 3G or 4G Internet and smartphone can be benefited from online payments in a convenient process.
What’s on the horizon for m-Commerce
The future of mCommerce is leveraging and stunning with the end number of benefits.
In 2020, we already have plenty of resources that are booming in technology and providing a better shopping experience. Here is a list of few revolutionary resources:
1. Image Search
Image search is powered by Artificial Intelligence (AI), it is set to revolutionize the entire shopping experience and hassle-free for its customers. With an image search, users can search for products online using their mobile cameras. The augmented reality and build in image search features has made shopping easy for customers.
2. Virtual Reality Stores
The benefits of virtual reality stores and VR headsets in mCommerce is remarkable. The VR headsets are easy to carry wherever we go, and it gives transformative, and futuristic experience to the customer’s mobile web and commerce apps.
3. Voice Shopping
Nowadays you can find Siri and Alexa’s voice assistant as a part of every home. People are upgrading to changes and technology, with that in mind intelligent assistants help people to voice search everything under this sun in the mobile commerce app.
Voice search is getting more popular in recent years than the last decade, statistics say “40% of adults use voice search once in a day”.
The voice-activated speakers are equally getting popularity like smartphones in the market these days. The customers got impressive luxury and love over these super-intelligent voice assistants.
These voice assistants also provide a human touch to the customers in mCommerce and many companies are taking steps to provide this intelligent assistant feature to support customers in their comfort zone.
The shopping experience of users begins and ends with mobile phones in current scenarios. The future of mCommerce is unbeatable and it will grow exponentially in upcoming years.
Learn how mcommerce functions, choose the right platform, and trends. You can easily gain an edge over all the competitors.
People are shifting towards this technical advancement and its revolutionizing every year.
About the Author
Sajitha is a skilled Content Writer at ZuanTechnologies. She holds her Masters in English and has a keen interest in discovering new ways to reach more clients through her Content. She also has expertise in thesis writing and a zealous Self-published author of fiction.