Mobile Ecommerce 101
Ever since Google prioritized mobile-first indexing, more and more websites have started adapting to mobile-responsive designs.
Google’s move was not without reason - over the years, the number of unique smartphone users around the world has grown to a staggering 5.13 billion, i.e. 66.5% of the global population.
Mobile ecommerce (m-Commerce) has also felt this rise, with a steady yearly growth of 33.8% on average since 2016.
What Is M-Commerce?
Kevin Duffey was the man who coined the term mobile commerce in 1997. The concept behind it was to bring the power of internet transactions into the hands of online users by allowing them to buy online, check their online banking, or carry out any other activity on the internet - from the palm of their hand. There is no doubt that this shift has made human lives even more convenient, in the fast-paced and dynamic world of today.
M-commerce is broadly classified into three parts:
- Shopping - Online shoppers can buy products or services on ecommerce websites and applications through their smartphone
- Banking - Customers can make use of their smartphone to perform different banking transactions such as transferring money, checking balances, and more
- Payments - Users can make various speedy payments, through dedicated site and apps, with the help of their smartphone
Tricks to Optimize
When the online world has become more accessible to your potential customers, it may be even more difficult than before to survive the competition in the digital space. However, there are some useful tricks that can surely help you optimize your m-commerce site and stand out from the competition:
- Simplicity Is Key: Smartphone screens are already small in comparison to PCs, and users dislike having a cluttered page which is hard to read and navigate. Therefore, the very first rule that you should follow is to have a clean and simple page so that users can navigate comfortably
- Calls To Action: The second important rule is to make sure calls to action are very clear. Pay attention not only to the ‘buy’ button, but also to others such as ‘add to a wishlist’ or ‘contact’
- Impressive Photos: In ecommerce, product photos are of paramount importance, and this is more so for mobile users. Images must be clear, attractive, and impressive enough for users to buy your products upon impulse
- Provide Options: You should show many options for the selected product so that customers can customize their experience and buy as per their needs
There are various advantages of mobile commerce for customers, which will undoubtedly contribute to its ongoing growth in the coming years:
- Customers can easily search for a particular product near them, while on the go
- It offers a superior user experience as it is fast, interactive, convenient, and personalized in nature
- For business owners, this medium helps to increase ROI
- It can serve as an effective marketing channel in comparison to the traditional methods, by being more personalized and targeted
Though mobile commerce comes with a lot of advantages, there are some drawbacks as well:
- One of the major drawbacks is security concerns. There are so many people who are not sure about using mobile commerce as they fear the loss of personal data such as credit card details
- The small screen size of the smartphone also discourages many people from making transactions through mobile phones
- The internet connection can become a hindrance at some geographical locations
- Fraud risk is another problem that is a concern for both shop owners as well as customers
- Some rural areas still lack modern services that can enable mobile commerce
M-Commerce Trends In 2020
M-Commerce is still evolving, but the trends are rather clear. Here are some statistics about the present state, and the future, of this ongoing shift in ecommerce:
- In the US, the transactional volume of m-commerce is expected to rise from $129 billion in 2020 to $418.9 by 2024
- Tablets are also a major part of mobile commerce, with an expected amount to be spent on tablets to rise significantly, reaching compound annual growth rate of 18.9% by 2024
- The hassle of filling in a list of details such as email address, contact details, and others will be replaced by one-click options
- Buying products that are displayed on social media will become much easier through shoppable pages on various platforms
- Shopping through voice command is another new trend that will be dominating the years following 2020
- Integration of Augmented Reality and Virtual Reality will enhance online shoppers’ experience
- Strict and advanced security measures based on Artificial Intelligence and Machine Learning will be deployed to protect users from mobile fraud and other security threats associated with this method of online shopping
Mobile commerce is surely going to continue developing, as it has done over the past few years. The convenience of performing financial transactions, shopping, tracking destinations, and others has led more people to use it, and based on the clear trends before us, it can be said that m-commerce is here to stay.
For ecommerce store owners who have not yet done so, it is important to adopt mobile commerce as soon as possible. Every ecommerce website builder including Shopify, WooCommerce, BigCommerce, Wix, and others, offer mobile responsive stores as an industry standard.
Always be sure to access your online store from various devices to make sure it is fully functional from the customers’ side, and most importantly, remember to constantly optimize this part of your business.