Mobile eCommerce Trends & Strategies

Mobile eCommerce Trends & Strategies

Shopify reports that nearly 82% of shoppers research on their smartphones before they make an online purchase. It is precisely statistics like these that make businesses utilize eCommerce to derive critical insights on details such as consumer buying behavior, how they use their smartphones to purchase online, how frequently they purchase, and the geographical locations from which they initiate purchases.

Experts predict that by the year 2021, mobile eCommerce will dominate the rest of the industries. It is thus important for businesses to develop mobile eCommerce strategies to ensure success and, probably more important, avoid being left behind.

Mobile eCommerce has been categorized into 3 broad categories:

  • Mobile Shopping: This is made possible through smartphones, dedicated applications, mobile-optimized websites, and even various social media platforms.
  • Mobile Payments: There is a wide range of mobile payment solutions that include digital wallets, Mobile POS, money transfers, contactless mobile payments, etc.
  • Mobile Banking: Mobile banking is unlike Internet banking and is usually done via a dedicated mobile application. Certain banks have integrated messaging applications and chatbots for this purpose.

Why Is Mobile eCommerce Crucial?

In 2017, mobile eCommerce projected sales represented 34.5% of the total sales incurred by eCommerce purchases. This figure has been growing exponentially since then. From mobile money transfers, mobile banking, contactless, and in-app payments to location-based services, mobile marketing, electronic boarding passes, and digital content purchases, Mobile eCommerce has been evolving significantly. Some of the major advantages of using Mobile eCommerce for business include:

  • Better Customer Experiences - With Mobile eCommerce, consumers can access a wide array of products with more competitive pricing, thus making shopping easier and more convenient. For instance, chatbots make it easier for customers to interact with businesses.
  • Exponential Growth - By the year 2020, experts forecast Mobile eCommerce sales to skyrocket to around $4.058 trillion and this figure represents 15% of the total retail sales.
  • An Omni-channel Experience - Customers are spoiled for choice as they get to purchase from multiple channels, both online and offline, such as Amazon, eBay, B2B, and so on. This also makes multi-channel marketing and sales simpler.
  • Multiple Options for Payment - As more number of mobile payment solutions evolve every day, simpler checkout options are made possible beyond just cash on deliveries, and card payments.

What Are Effective Mobile eCommerce Strategies?

Anticipating shoppers who use their smartphones to purchase is the key to a successful mobile eCommerce strategy. Thus, your strategy must perform the following:

● Anticipate Omni-Channel Shoppers

A fast loading website and a mobile application will maintain customer interest and interaction until a purchase is done. Studies show that 40% of smartphone and tablet users abandon their devices in case of a slow-loading website or mobile application. Additionally, optimize your breakpoints by sizing images accurately and compressing them if required for improved mobile-customer experience.

● Effective Native Mobile eCommerce Checkouts

Mobile-optimized checkouts have made it simpler for users. Speeding up the checkout process without making the user spend more time on the pages with reduced clicks, pages, field options, and screen taps are effective Mobile eCommerce strategies that will work for your business.

● Social Selling Platform

According to Shopify studies, 55% of users have bought products they have viewed on social media. Integrating social media with your Mobile eCommerce platform is thus an effective strategy to increase sales, brand value, as well as improve traffic to your business website. For instance, Instagram and Facebook posts on exclusive products push more customers to visit the brand’s website more often, thus increasing traffic and sales of your business.

What is Next?

To create an effective Mobile eCommerce strategy for your business, it is crucial to understand the audience, their buying patterns, and their specific requirements on a geographic basis as well. By 2021, mobile ecommerce will constitute 54% of all ecommerce sales (and 15% of total retail sales, as we mentioned before). It is time to become mobile-first today.

Read More:Coping eCommerce Supply Pattern Changes During COVID-19

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