M-commerce, or mobile commerce, involves shopping online through a mobile device, like a smartphone or tablet. Consumers are reliant on digital devices now more than ever and rising usage of mobile devices to complete purchases suggest that they will become consumers' preferred channel for online shopping by 2025, with experts saying the pandemic accelerated the shift to online shopping by as much as five years.
key metrics around mobile usage are rising. These metrics include the amount of time spent on mobile devices, the types of apps and websites visited, and daily internet usage. CNBC predicts that a massive 72.6% of internet users worldwide will only access the website with mobile devices before 2025. Clearly mobile is the place to be.
Technological advances like branded shopping apps, 5G wireless, and social shopping make it easier for people to shop on their phones. As app usage continues to grow,
m-commerce will be a major contributor to sales growth, especially with Millennials and Gen Zers holding massive spending power.
The percentage of transactions that come from mobile/digital wallets is expected to rise above 50% by 2023 according to the Worldpay Global Payments Report.
Brands can improve mobile commerce performance by delivering an exceptional mobile experience, optimising their website for organic search, and offering multiple payment methods.
How M-Commerce can Impact your Business
Having optimum mobile performance can have multiple benefits for your business including:
Increased sales through direct selling on social media apps and integration of payment methods such as Apple Pay.
Provision of a true omni-channel experience for customers through augmented reality mobile commerce apps and the ability to research products or services and make purchases at any time and place.
Enhanced customer experience through ease of use and rapid, streamlined shopping experiences.
Valuable marketing opportunities such as having a direct connection to end users through mobile applications, giving an invaluable marketing channel where you can sell products directly to the consumer via their mobile device.
Provision of various tailor-made marketing functions available on m-commerce platforms that allow you to better target customers such as push notifications and product information newsfeeds.
Just Look at These Stats to see why M-Commerce is the Place to be:
Almost 3/4 of all commercial transactions made online are completed on a mobile device.
The share of mobile e-commerce sales in total e-commerce sales increased by a massive 39.1% between 2016 and 2021.
In 2022, smartphone retail e-commerce sales are expected to pass $432 billion
Sales through social media channels around the world are expected to almost triple by 2025 (and we all know where most people access socials).
European and North American countries are expected to be the leading players in the m-commerce market between 2020 and 2024.
Have we convinced you of the benefits of getting ahead with m-commerce?
At ZOMA, we can hep you take your m-commerce to new heights!