It’s a well known fact that ecommerce has constantly grown to become a larger part of the commercial and retail landscape but what about mobile commerce? If one follows the growing number of smart phone users there would be several businesses who haven’t been quite keeping up with the change of trend. Several online stores are still un-optimized, unresponsive and this has been driving away the potential customers. Failing to come up with a successful M-commerce strategy puts businesses at a disadvantage. Well, here are some statistics that should convince you more:
MCommerce transaction crossed the $115 billion mark in 2015 and by the end of next year; it is expected to reach $142 billion. Mobile devices will be generating 15% of the overall ecommerce sales by the year 2020. But Forrester Research also suggests that only a few online merchants are leading the way. Only eBay and Amazon account for more than one-third of the shopping in the United States. Given the fact that mobile phones have become the primary computing devices, the numbers should become more interesting
Not only have mobile phones become the device for the masses, 90% of users keep their phones within reach 24×7. This holds significant effects on retailers, especially those eyeing the online market. Today, M-commerce for 30% of the United States eCommerce and will grow by 300% faster than the traditional shopping processes. So what would be the trends to watch out for?
The convergence of physical and online world
If your brand already has a large audience, it is likely that your customers would look to be engaged across device too. 2/3rd of Americans own a minimum of two digital devices (among smartphones, laptops, desktop and tablet) and 1/3rd own all the three. Since they are interacting with different devices, the distinction between the physical and online world is also blurring. Subsequently, some brands have come up with unique strategies like curbside pickups, same day deliveries, beacon enabled features and online reservation
Mobile web is also supposed to outpace apps. Though 85% of the mobile time is spent on apps, it is limited to a select few services. Overall, the web drives 2 times the site traffic of apps and will gradually become the top revenue driver
The importance of M-commerce cannot be ignored regardless the brand identity you already have or the nature of your industry or product line. In 2016 and beyond, mobile commerce will provide customers with a better experience of indulgence than any other ecommerce platform
Do write in to us with your comments and let us know which of these benefits will impact your business bottom lines the best when you opt for the employee mobile app solution from Neologix.