The emergence of mobile apps has changed everyone’s life altogether. Be it for business or personal daily activities, smartphones virtually dictate communications, shopping, and other daily tasks. Thus, it will be safe to say that the ‘mobile commerce’ space is constantly evolving and is here to stay.
The importance of mobile commerce (mCommerce) can be gauged from the fact that the global mcommerce market valued at US$ 628 billion in 2020 is poised to grow at a CAGR of around 34% during 2021-2026.
With the advent of technology, consumer behavior has changed at a rapid rate. Because mobile commerce provides them ease of usage, it will continue to thrive in the future.
To ride the bandwagon of mobile ecommerce, you need to be completely aware of the changing mcommerce trends. In addition, you need to have the top ecommerce app development companies by your side to render you the best possible service.
We will see the mobile commerce trends and strategies that will impact the business in 2022 and beyond. Moreover, we’ll also dig deep into the impact that these trends will have on the entire ecommerce realm.
A brief explanation of Mcommerce
Mobile commerce is also known as mcommerce or m-commerce is one of the most promising trends in ecommerce. This space includes everything related to any monetary transaction that is done through the mobile device. While on ecommerce, you associate buying or selling things using any digital platform, mobile commerce is related to smartphones and tablets only.
The emergence and evolution of mobile commerce have also given rise to a plethora of new services. It includes:
- Mobile banking
- Electronic money transfer
- Location-based services
- Mobile marketing
- Digital content delivery and purchase
Different types of Mobile Commerce
The mobile commerce world is very diverse. Within this digital realm, there are three different types of mobile transactions happening:
- Mobile Banking
- Mobile Shopping
- Mobile Payments
Stats and figures for Mcommerce
There are some promising statistics that we make you understand about the present and the future of mobile commerce. We have listed a few of the highlighted stats below:
- By 2023, the mobile payment market will hit a mark of $4.574 billion. This means that the mobile payment market has shown a compounded growth of 33.8% since 2017
- Mobile payments are projected to continue their unprecedented rise and will show a growth of 26.93% between 2020-2025
- 50% of the total ecommerce sales in 2021 came from mobile.
- Mcommerce sales are expected to reach $3.56 trillion in 2022
- Mobile devices were used for conducting 6 out of 10 Google searches
- 60% of consumers use social media to research new products and services.
Importance, Advantage and Disadvantages of Mobile Commerce
Mobile commerce is constantly gaining popularity as it is easy to use. Moreover, through mobile commerce, business organizations can expand their horizon and even excel in untraded paths. Over the years, mobile commerce has become one of the most effective revenue-generating mediums for companies.
But with the high points, there are some drawbacks of Mcommerce.
Here, we will see all the benefits and disadvantages of M-commerce in detail.
Of course, they won't deal with manufacturing and they won’t deal with require to worry about unsold goods or stock which can make a huge loss.
Coming years has a drastic change in the Manufacturing, Supply Chain, Retail units with the logistic companies.
It's been agreed that now 40% of purchases are happening over the logistic companies such as e-commerce and woo-commerce businesses and expected to reach 75% in coming days.
If you are stepping to enter in a Logistical business sector then you must reach this article.
Many reasons to say “why having an e-commerce app is beneficial to businesses.” And how advantageable it is to have an e-commerce mobile app for your business: It helps you target the audience globally.Increases online visibility of your business.Helps in building brand recognition.Makes it easy for the customers to reach.Allows you to communicate with the customers and interact with them.Keeps the customers engaged with your products.Quick updates to customers about your business regarding discounts or sale through push notifications.
Folks are now super busy with own schedules hence their is highly less preferred ones who spare some to buy at a local shop in limited choices unless they have a tight time to buy or unexpected plan.
Since the world is going mobile and mobile apps are dominating over the entire market, your e-commerce website may somewhere lack behind to make adequate revenue or acquire potential customers.
According to certain research, it is found that more than 60% users choose mobile apps over websites or mobile-sites to shop online.
Considering the storm of mobile apps emerging in each industry sector, it is soon also going to be essential for e-commerce retailers to adopt mobile e-commerce app solutions.
An e-Commerce app solutions serves uncountable benefit as compare to your customary e-commerce website.
If you look around all these remarkable benefits, you will surely regret why you haven’t yet determined to get e-commerce mobile app development solutions for your e-commerce business.
Further, apps are delicately designed for certain devices, thus it lets you build exclusive functionality.
The inclusion of mobile technology has seen everything go mobile in recent years.
And this notion is going to remain the same in the coming years as more and more businesses are going mobile.
Mobile technology offers 24*7 connectivity to the retail business owners and helps them to relate to the customer needs efficiently.
The eCommerce revolution has also added to the transformation of the traditional brick and motor retail stores and the way it used to function.
Thus it becomes inevitable for your retail business to go mobile to stay afloat in the cut-throat competition scenario or else you will lag far behind from your peers.
Also, no rocket science is needed to understand that the majority of people spend more than 5 hours on their phones daily.
The eCommerce mobile app development cost depends on the number of factors that we are going to discuss in this article.
This tendency has outlined new business approaches to consider.
This leads us to another essential feature for the eCommerce applications – it must be synchronized across all devices, give users the ability to register the account (or log in via facebook or google), add items to the shopping cart and then complete the purchase whenever they want with the help of any device.
For example, Amazon reached the point of 150.79 million and Walmart had 82.57 million visitors during one month (June 2019).
Companies that have enough resources usually create the brand commerce application and focus on marketing own goods and services.
Secondly, chosen technologies can make a difference in calculating the final eCommerce mobile app development cost.
