How can Mobile Commerce help your business stay ahead of the competition?
With the demand for eCommerce increasing by the year, the developer communities have taken action to simplify this platform to make it even more convenient for its users. Over the past few years, shopping with the use of a mobile phone has gain popularity and is on the rise. According to Bigcommerce, Mobile Commerce sales are expected to account for over 54% of total eCommerce sales by the end of 2021.
What is mobile commerce?
The platform which enables its users to perform online transactions, bill payments, product sales and purchases among other commercial activities, with the use of a mobile phone or any wireless device can be identified as Mobile Commerce. In other words, Mobile Commerce is the platform which provides the ability to perform any monetary transactions via a mobile or any handheld device.
Having introduced new and improved mobile phone technologies into a society which is heavily dependent on their devices, have made it possible for Mobile Commerce to meet the demands of buyers and sellers equally.
Is there a difference between eCommerce and Mobile Commerce?
The CNBC estimates that by the year 2025, the percentage of those that will access the internet through their mobile phones will be at an all-time high of 72.6%. Due to this noticeable increase in mobile phone usage and dependability, Mobile Commerce was an inevitable solution. We can safely say that Mobile Commerce is a subset of eCommerce which is driving the overall growth and adaptation of the platform.
The main difference between eCommerce and Mobile Commerce is that, while eCommerce focuses on the overall shopping experience on the internet, Mobile Commerce focuses on the customer’s shopping journey on mobile devices. Therefore, businesses have either provided customers with a mobile-friendly eCommerce website or a standalone mobile application to enhance the user experience.
Can Mobile Commerce benefit my business?
- Wider customer reach and accessibility: By transforming every individual with a mobile phone into a prospective customer, Mobile Commerce has given businesses the opportunity to offer their products and services to customers without having to worry about geographical limitations. Mobile Commerce has made it possible for customers to gain access to the platform even on the go.
- Personalised content: Unlike with brick and mortar, Mobile Commerce has enabled businesses to connect with their customers in a more personalised manner. With the help of mobile applications, businesses can recognise the purchasing patterns of their customers and provide the services accordingly. Analysing these patterns and preferences will enable any business to deliver marketing content to their target market effectively.
- Faster conversions: With Mobile Commerce, shoppers not only can browse faster in a user-friendly interface, but also has the ability to perform faster transactions with just a tap of a finger. Utilising the personalised content, businesses have not only been able to create an urge within their customers to make a purchase, but also have been able to convert a website visitor into a potential customer.
- Improved customer experience: The intense competition which exists within the market would mean that the importance of delivering a memorable and a personalised experience for customers is more prominent than ever. Easy registration & log in, smooth navigation, product filtering & sorting, shopping cart, Wishlist, secure in app payments, track the shipment, are among many other simple tools which can help a business enhance the user experience.
According to Statista, there are 6.4 billion smartphone users worldwide. The technological advancement and the high demand of mobile internet users have led to the introduction of Mobile Commerce. Statista also states that Mobile Commerce has already become an influential consumer trend. For an online business to stay competitive, the platform should have the ability to attract and provide a memorable experience for the users who visit the website. If your website is mobile ready or if you’re offering mobile applications for shopping, it will act as a competitive advantage.
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