For the mobile e-commerce, the tipping point (the point at which some new technology becomes mainstream)seems to take place. As per the reports from comScore, eCommerce growth overshadows all other online retail expenses, with a three-fold increase in PC eCommerce.
What is actually m-commerce?
The term “m-commerce” stands for mobile commerce which is all about browsing, purchasing and selling of products and services on mobile devices.
M-Commerce is that blanket term used to describe goods and services sold on smartphones, tablets and other non-PC devices. It’s the increasing mobile entrance in all demographics and areas, which has prompted or mobilized businesses to go more ‘mobile’ and make the majority of a virtual marketplace that succeeds on devices.
The Rise Of Mobile Commerce
But as the M-Commerce market has progressed, so as people’s expectations. Customers expect dedicated mobile apps with different features to enhance their shopping experience, whether it’s one-touch tapping or voice-activating search.
As per the report shared by Criteo State of the Mobile Commerce, the sophisticated devices and the 4G network have additionally boosted the m-commerce world with Europe and Asia leading the m-commerce bandwagon and the US in the line catching up.
The report also justifies that m-commerce has evolved:
- 62% traffic increased on e-commerce web and mobile apps;
- 33% greater conversion rates on the mobile apps compared to the website;
- 200% increment in return customers for the mobile app.
- Mobile E-commerce Sales account for 34.5% of total e-commerce sales in 2017, and this number is increasing.
The high point to be noted, by 2021, mobile e-commerce sales are expected to have a history for 54% of total e-commerce sales.
“Mobile commerce is something more than just a simple transformation of e-commerce”
It has also served as a trigger point for new industries and services, or has helped increase the existing ones, including the following:
- Electronic tickets and boarding passes.
- Mobile marketing, coupons, and loyalty cards.
- Contactless payments and in-app payments.
- Mobile money transfers.
- Digital content purchases and delivery.
- Mobile banking.
- Location-based services.
Elaborating two points in detail
1. Money transfers:
Money transfers were earlier limited to the banking apps, but now there’s a growing number of ways to transfer money from one person to another – on a mobile device – without using the banking app.
Previous adopters of this include:
Now there is:
- Square Cash
- Facebook Messenger
2. Contactless payments and in-app payments.
Contactless mobile payments use select mobile wallets to assist the progress of payments made in-store.
Supported mobile wallets generally include:
- Apple Pay
- Google Pay
- Samsung Pay
Some banks are in the process to launch their own mobile wallet too.
When you’re doing payment in a physical location, instead of having to swipe your debit or credit card, customers can place their phone close to a supported terminal to verify and transmit payment.
As a matter of fact, Business Insider predicts, that mobile’s share of eCommerce revenues will continue to grow, capturing 45% of the total US eCommerce market by 2020.
These numbers predict the future, but how do the developers, businessmen, and CMOs prepare today to meet the latest requirements and greater expectations? One way to ride an M-Commerce wave is to understand the prevailing trends and technologies that rule mobile commerce in recent times.
Have a look at some of these drivers of dominance and trends in mobile commerce:
1. Smarter Chatbots and Mobile Messengers
Chatbots (a computer program which holds conversations through a chat room) and mobile messengers may look like an exaggerated event, but prestigious brands like Starbucks, H & M, and Nordstrom are already using them. Chatbots have arrived and are here to stay.
According to a survey by the eMarketer, the social media user likes more of messenger apps (54.4%) to come in contact with the brand in opposition to email, phone calls and traditional chat (46.6%).
Shoppers quickly become addicted to chatbots who respond in real time and personalize their shopping journey, helping to their needs without the need to download/install an app.
The Bot technology, also known as web robot, WWW robot or simply bot is still in its unfinished stage and there’s a massive possibility in this market.
2. The Augmented Reality Revolution
Many traders and e-commerce businesses are heating up the idea of using the headset, which contribute extensions to customers’ reality.
Very soon, buyers can expect AR headsets to show how certain outfits will see them before making the choice. From home decoration to make-up and complex products and equipment, the AR is set to dim the split between real and virtual for doubtful shoppers.
Since retailers see innovation to differentiate them from the competition, raising their brand, and stand out themselves, AR is the tool that can make the most difference. It’s expected to increase profit percent by giving customers ‘try before buy’ and hoping to reduce returns and eliminate the guesswork.
AR provides you that vital boost to online retail by helping customers choose better and more confidently. But that is not all.
The future of Omnichannel shopping bets very high on AR to add more value by customers to engross with mobile retail channels and in turn, bringing more in-store traffic.
3. Progressive Web Apps
The Progressive Web Apps (PWAs) are rapidly revisualizing the mobile web especially future trends in mobile commerce. PWAs use modern web capabilities to provide native app-like experience for users. But PWAs’ sales point is their ability to deliver the best of web and original/native applications to users.
One of the biggest complaints about the mobile web is that it can be unskillful, lazy, and can never quite live up to the PC experience. But PWAs are ready to change the game with fiery fast speed and smooth surfing and shopping experiences.
Already, companies like Flipkart, Alibaba, Lancôme, and Trivago are benefiting with an increase in M-Commerce sales and long-term benefits on the site. Magento, not surprisingly has contracted with Google to develop all new progressive web applications for Magento merchants.
4. Automated m-Commerce
Digital commerce and marketing automation have always been in collaboration. But in the last few years, Automation has developed to implement the necessary marketing tasks and enable sales on autopilot. A large number of marketing automation tools are provided specifically towards eCommerce.
Right from sending automated push notifications based on user penetrations to in-app messages, SMS/texts, segmentation of mobile audiences and personalized content based on this info, A/B testing, automated commerce, and transaction capabilities, the prospects are extremely high.
5. Voice Activated Search
Customers and users are now getting addicted to voice commands with Siri and Cortana, who are their mobile genies. Voice activation technology is being used in high-tech cars and homes and it must definitely be a part of the users’ mobile app experiences.
Voice-activated technology further reduces the resistance of searching and buying products by allowing them to talk to your app and make your shopping cart, will bring one step ahead to conversion.
The growth of Mobile eCommerce:
5 effective steps to improve mobile commerce page speed
Most e-commerce platforms have different page speed optimizations built in, but it doesn’t free you from running some page speed tests and identifying areas that could be done with improvement.
1. Run some tests
It’s important to remember that users with high-end smartphones will experience a far better WiFi connection than a person with a mid-tier (medium size and importance or neither top-tier nor bottom-tier) smartphone having a 3G connection.
For this, we recommend running separate speed tests using many different tools:
- Test My Site
- PageSpeed Insights
2. Optimize & reduce images
Images are amongst the huge contributing factors to poor page speed for two reasons:
- They are not always optimized, and
- Often, they are too many on one page
Also Read: UI Vs UX: Is One Preferable Over The Other?
Without a doubt, eCommerce sites benefit from the use of high-quality images, but with modern image optimization, it’s possible to reduce the file size of images without their digital quality being affected.
“But optimization of images is not only confined to the reduction of file size, but it’s also about resizing images for different devices.”
3. Minimize code.
By doing this, it doesn’t reduce the file size as effectively as with image optimization but improves the page speed counts in every millisecond.
Google suggests various tools which will minimize your code for you, although most e-commerce platforms also minimize these files automatically.
4. Reduce tracking snippets.
When it comes to e-commerce, the use of third-party tracking and analytical services is a necessary evil.
But if you’re not using Google Tag Manager, then the snippet of code required by each service can affect the page speed.
Including Tag Manager, you’re still able to use all your chosen tracking and analytical services, but you only need to add one snippet of code to each page.
5. Do a feature audit.
Feature audit is a term originally used to describe the needless addition of features to the software.
It’s also a term that – along with Bright Shiny Object (BSO) syndrome – relevant to websites.
“Each feature and software integration added to your site requires additional resources impacting on page speed.”
A feature audit means genuinely judging the value of each feature and app you’ve joined into your site.
The Future Of Mobile eCommerce
As mobile commerce jumps onto online digital commerce space, retailers have to use technology and research to make mobile shopping as easy and convenient as their desktop counterpart.
Some of these technologies can be in their preliminary phase but they will soon become acceptable standards for mobile commerce. Business techniques that adopt quicker changes will gain an edge over the competition and make their customers happy and satisfactory with a never-seen-before shopping experience.