The Rise of Mobile Shopping and What it Means For Your eCommerce Business
If you’re like most people, there are three essential items you must have in hand every time you leave your home; your keys, your wallet, and your phone. Mobile phones have come a remarkably long way since their earliest brick-like inception. Even from flip phones and the very first iPhone model, the smartphone has evolved into an all-encompassing device that keeps us connected to the world around us in so many complex ways.
In the world of eCommerce, the popularization of smartphones has wholly transformed how we shop. No longer do we need to go to physical stores to get the things we need. Be it clothing, food, tools, or services, all are available at the tip of our fingers, virtually anywhere in the world. As a result, mobile shopping has become a vital source of revenue for online retailers and an incredibly viable way to target new buyers, widen audience reach, and increase sales.
Today, there are over 3.6 billion smartphone users globally, and according to a 2019 eMarketer report, smartphone commerce sales made up an astounding 34% of all U.S. eCommerce sales. This number is projected to grow as technology advances and as we become increasingly dependent on our mobile devices. Although mobile shopping’s projected growth doesn’t necessarily translate to the end of offline shopping, it does pose an exciting opportunity and challenge for modern eCommerce businesses.
That said, you’re likely wondering how your eCommerce business might be affected by the mobile tides of change. Let’s take a deep dive into the facts, stats, and tips you need to know to advance your business and stay at the cutting edge of smart buying.
How is mobile commerce different from eCommerce?
eCommerce functions as an umbrella term for all facets of buying and selling goods and services on the internet. Mobile commerce, also commonly referred to as mCommerce, specifically applies to the buying and selling goods online via mobile devices (i.e., smartphones, tablets, etc.).
Although most online vendors typically do not differentiate between eCommerce and mCommerce, making that distinction only works to give you a more comprehensive understanding of how to reach your audience and engage potential buyers.
Why does mobile commerce matter?
Perhaps the most critical reason why mCommerce matters are that the population of people who rely on mobile devices is continuously growing. That projectile shows no signs of a plateau. There are, however, other reasons to invest in your mCommerce strategy.
- mCommerce offers an enhanced shopping experience
Smartphone innovations, whether in applications or hardware, are on the rise every day. With so many tech giants competing with each other to put out the most advanced phone or tablet, the market is voracious. Smartphone screens are becoming larger, and user experience is continuously progressing. This means online shopping becomes even more accessible, inviting, and streamlined via mobile devices.
It should come as no surprise that digital shopping is one of the biggest developments driven by mobile device innovation. The ease of large screens matched with touch screen compatibility makes the online shopping experience parallel to none.
- Effective mCommerce strategy positively impacts mobile sales.
Beyond optimizing your website navigation, there are many ways you can craft a mCommerce strategy that invites browsers in and provides a seamless experience that primes them for making a purchase. One of the best ways businesses capitalize on this is by creating mobile apps. Mobile apps tend to be 1.5X faster at loading data than mobile sites, thereby ensuring faster purchases, too.
How to boost your mCommerce performance
It is no mystery that when it comes to mCommerce, the quality of site and app functionality is vital to the success of any business’s sales strategy. If you’re wondering how to boost your mCommerce performance, check out the tips below.
Tip #1: Track device conversion discrepancies
Modern buyers use more resources today than ever before to make transactions or purchasing decisions. As an eCommerce business, it’s incredibly vital for you to implement a tracking strategy that monitors the tools, devices, and other consumer behavior types. This type of approach can accurately quantify and evaluate the impact mobile has on your sales conversions.
Analyzing smartphone and web conversion nuances will help marketers properly understand conversion patterns while still taking into account the benefits and drawbacks of involving user authentication, single sign-on, and social media logins as they pertain to mCommerce conversion. Ultimately, by exploring different strategies and tactics for reaching users on mobile platforms and creating a cross-device monitoring approach, you can maximize mobile opportunities’ efficiency.
Tip #2: Perfect your user experience
Put, the more streamlined, straightforward, and seamless your site or mobile app user experience, the better. No one wants to be confused, trying to navigate through your inventory of offerings. If they are running into difficulty, the odds are likely that they’ll click off and head to a competitor site that offers a more comprehensive online interface.
Take a look at American Casino Guide Book’s site navigation and mobile app advertisement:
Not only does the top bar make it easy to understand how to access every facet of the site, but their meticulously crafted approach to advertising their free casino app is enticing and concise.
Tip #3: Offer a variety of payment options
With mCommerce, it is critical to provide potential clients with multiple available payment options. Doing so opens up your goods and services to those who may not be conventional credit cardholders. Aside from debit and credit cards, incorporate other options like ApplePay, PayPal, AfterPay, Klarna, and other electronic transactional platforms.
In addition to improved consumer awareness, mobile shopping’s versatility has dramatically enhanced the value of mCommerce. By exploring different strategies and tactics for targeting consumers online via their mobile devices and creating a cross-device monitoring approach, marketers can capitalize on optimizing their opportunities.