Mobile technology with cellular application is a significant driving force in our everyday lives. It’s altered the world around us in several fundamental manners. As a result of our smart phones, we carry the entire world in our hands.
From accessing national and global information and streaming entertainment/educational articles in real-time to internet purchasing and controlling smart devices from distant places — our smart phones can do everything.
With smartphones accompanying us anywhere we go, it’s influenced how we do our daily activities, how we operate, and also how we store and eat content.
The entire world is more connected than ever because nearly everything is only a couple of taps away. Interestingly enough, mobile technology is no more confined to private needs. By helping connect buyers and sellers worldwide, mobile technology is enabling companies of all sizes and shapes. It has given birth to mobile commerce.
Mobile trade, a.k.a. mCommerce, describes the purchasing and selling of merchandise and services using wireless handheld devices such as tablets and smartphones.
It enables buyers to get in touch with vendors in any portion of the planet for the internet trade of products and services via mobile devices.
Mobile commerce has surpassed the eCommerce domain name to make innovative solutions, such as cellular money transfers, mobile banking, mobile banking, mobile advertising, contactless payments, in-app buying, digital wallets, and more.
Mobile commerce has helped to take eCommerce perks and shopping experience to the next level. Here are the most pertinent benefits of mobile commerce:
Statista predicts that by 2021, mobile commerce will account for 53.9% of all retail e-commerce sales.
As mCommerce continues to grow and expand, here are 6 mobile commerce trends to watch out for in 2021:
According to Loup Ventures, 75% of US households will possess smart speakers by 2025, bringing around US$ 30 billion in revenue.
The primary reason for such massive growth in voice commerce is the convenience they offer. Virtual assistants like Google Assistant, Alexa, and Siri make the search process simpler and quicker, thereby enriching the overall customer experience.
Thus, companies should capitalize on this opportunity by optimizing their content for voice queries and offer seamless voice-based navigation.
Augmented Reality and Virtual Reality technologies are witnessing widespread adoption in the retail sector. ABI Research maintains that by 2022, more than 120,000 retail stores across Europe, North America, and the Asia-Pacific region will adopt AR technology.
Unlike brick-and-mortar stores where customers can touch and feel products, AR tools coupled with AI-powered virtual assistants can create unique virtual (try-on) experiences for customers.
The omnichannel strategy is a crucial advertising strategy for merchants and mCommerce traders alike. The rising adoption of mobile devices and societal networking platforms compels manufacturers to construct their existence on several online channels.
Since customers switch between several channels by the minute, they want to reach out to brands via their preferred channels.
Clients appreciate easy and speedy checkout choices. When coupled with numerous payment choices, this contributes to a highly satisfactory consumer experience.
As an example, a cell app/website with easy navigation attributes enabling for single-click checkout is more attractive to prospective buyers.
Clients want diversified payment choices such as credit/debit cards, cellular wallets, or payment options including Amazon Pay, Google Pay, PayPal, etc.. Anyone failing to supply these trending choices is very likely to overlook converting leads into clients.
Dynamic pricing, a.k.a. require prices or flat-rate pricing, is the latest eCommerce trend at this time. With many brands that offer similar goods or options, brands need to give the very best pricing to direct clients towards them. The secret is to identify what is the”right” price for your goods.
This is mostly dependent on market rates. MCommerce brands need to always monitor their competitors’ pricing policies and the prevailing prices for various products. Tools such as Minderest help you discover the competitive market price and the best price for your own offerings.
Chatbots are the ideal customer service tool for eCommerce and mCommerce platforms. According to Statista, the global chatbot market will generate around US$ 454.8 million in revenue by 2027. By including chatbots in mobile apps and websites, businesses can offer 24×7 support services to customers.
Unlike human executives, chatbots can work tirelessly without any breaks. They can respond to customer complaints and requests and assist them accordingly. Moreover, chatbots can help customers to make informed purchasing decisions.
In the next few years, these technologies are going to dominate the mobile and eCommerce markets. As new technologies enter the scenario, businesses aiming to build a niche mobile commerce market must devise creative solutions to leverage emerging technologies.
This makes it essential for eCommerce companies to incorporate these mobile commerce trends into their overall business strategy.
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