As an ecommerce business owner, you have to be plugged into the mobile commerce trends. More than half of online purchases are made from a mobile device. If you want to be competitive in this industry, you have to understand the evolving behavior of online shoppers and stay up to date on the new mobile commerce solutions for retail businesses. One way to do so is to address an ecommerce development company to find a solution that suits your company best.
It doesn’t matter which ecommerce platform you use. Shopify, Magento, BigCommerce -- these mobile commerce trends apply to all ecommerce business owners. But let’s not get ahead of ourselves. Before we dive into our mobile commerce forecast let’s quickly recap what it actually is and what kind of growth is on the horizon.
Mobile commerce is a huge part of the ecommerce industry -- but what is mobile commerce?
Mobile commerce, also referred to as m-commerce or mobile ecommerce, is using a mobile device to make any type of commercial transaction.
People now have access to the same things on their tablet and smartphone as they do a desktop or laptop. Because of the advanced capabilities of these mobile devices, we are using them for much more than ever before -- like banking and shopping. This is mobile commerce in a nutshell and as you can probably imagine, it’s a big deal for your business.
As more transactions are done on a mobile device, the importance of having a mobile-friendly business increases. It also means more technology is being created to facilitate and simplify the mobile transactions that are taking place (which is what we’ll be looking at in this blog post).
Mobile commerce is also fast-moving. The growth is off the charts. By 2021, 72.9 percent of total retail e-commerce sales worldwide are expected to come from mobile commerce sales. While you don’t have to be first to the party, you don’t want to be late. For an ecommerce business, the best time to get into mobile ecommerce is now.
Now that we have a better understanding of what m-commerce actually is and the insane growth taking place, let’s dive into the mobile commerce trends that we think are going to boom in 2021.
Here’s our mobile commerce forecast for the coming year:
What started out as an easy way to type out a text message or turn on your TV to watch a show, has become an integral part of daily life. Pretty much every smartphone on the market has a built-in voice assistant. Plus more than 28% of households in the U.S. own a smart speaker and experts predict that percentage will reach 75% by 2025. AI assistance is certainly well received and people are loving the ability to outsource everyday tasks. Shopping is one of them.
Whether researching products, adding an item to their shopping list, or making an actual purchase, consumers are relying on their AI assistants at home and on the go. We believe that having a voice friendly website and m-commerce app is going to be essential for retail businesses in 2021... Alexa, what do you think about voice shopping?
Mobile chatbots eliminate the need for a shopper to exit the page to ask a question or learn more. Since website click outs and cart abandonment are two huge issues for ecommerce businesses, adopting this technology makes total sense.
Traditionally a potential customer would have to write an email, fill out a form, or make a phone call to get their question answered. This is a problem for two reasons: it requires them to exit the product page and it creates a lag as they wait for a response. By building a chatbot into your ecommerce site or app, you're less likely to lose a sale because your visitor becomes frustrated or fatigued. They can get an instant response while remaining on the current page
Chatbots are one of the best mobile commerce solutions for retail businesses and we always recommend our customers integrate this technology into their site or m-commerce app. When brainstorming how to improve your business in 2021, mobile chatbots should 100% be a part of the conversation.
Think about situations where you’d rather buy something in person than online. Like wanting to see how a suit fits your body or testing out a new lipstick color to make sure it's flattering on your skintone. Being able to try before you buy is a big selling point for brick and mortar stores.
VR (virtual reality) and AR (augmented reality) are bringing that same type of personalization to mobile ecommerce. With this added capability, shoppers can now see how products will look on themselves or in their homes from wherever they are browsing. They can even get real-time assistance from an associate just like they would in person. This is especially helpful with the presence of COVID-19 and people limiting their exposure to public places. VR and AR can recreate the in-store experience online in many ways.
For most ecommerce businesses, we highly recommend incorporating some type of virtual or augmented reality to elevate your customers’ shopping experience. We foresee more businesses adopting this technology next year and lacking this capability could divert your customers elsewhere.
Consumers are shopping across multiple different channels on their mobile devices. That means your customer might buy through Instagram one month and on your website the next. If you’re focused on mobile commerce growth, you have to be in more than one place. We believe that to have a successful brand in 2021, you’ll need a website, an app and social media presence.
And you can’t just “show up” on these channels either, you really have to do it right. Shoppers expect a seamless experience and it’s your job to deliver. According to SalesForce, 75 percent of consumers expect consistent experiences across multiple channels. If they don’t get that? Well, it’s kind of a dealbreaker. 73 percent admitted they would be likely to switch brands if they didn’t have a consistent experience. If you want to make your customers happy and boost mobile commerce sales, you should highly consider taking an omnichannel approach
Fraud transactions and cybercrime attacks pose a real threat to mobile ecommerce. Fraud and scams are more likely to occur on a mobile device than a single location device such as a desktop computer. But despite this finding, mobile commerce sales continue to increase. As an ecommerce business, you need to be prioritizing fraud prevention.
While no business is completely risk-free, you should still be doing everything in your power to mitigate risk and protect your and your customers’ sensitive data. Building an m-commerce app is one way to do this. Apps are less susceptible to attacks than sites, so there is an increased sense of security. Frauds and scams aren’t going anywhere (if anything, they'll become more frequent in 2021). In anticipation of these future trends of mobile commerce, we urge you to consider an app to offer a more secure shopping experience.
You can lose a customer in literally seconds. “I want it and I want it now.” This is the mindset of most online shoppers. If a user encounters a slow loading time, they are likely to just abandon the page. This is why ecommerce businesses need their mobile sites and m-commerce apps to load at lightning speed.
To accommodate short attention spans, you also need to offer a swift checkout. The best way to expedite the payment process is with stored information. This can be done internally by encouraging repeat customers to set up an account where they can save their billing and shipping information. Accepting payment through a digital wallet also decreases the amount of information needed to make a purchase. Both options shorten checkout time, which means less opportunity for a buyer to change their mind -- and you to lose a sale. Stay relevant through 2021 and embrace the heightened loading and checkout speeds that today’s technology offers.
I’m sure you already know that social media is a great place to find new leads and increase brand awareness. But in the past, you may have struggled with how to turn those follows and likes into actual sales.
Now posts on Facebook and Instagram are shoppable, which means users can actually buy stuff right on the app. It’s much easier to convert your social media following this way because it eliminates the need to redirect a user to a product page and then have them go through the (sometimes painful) checkout process. Fewer steps, higher conversion.
If you’re not already selling through social media, start now. Social commerce is still relatively new and it can only go up from here. Brands utilizing social commerce note an increase in social media traffic and revenue. This is one m-commerce trend you definitely don’t want to sleep on.
To find out which mobile commerce trends your business could benefit from most, schedule a free consultation. At RaiseTech, we’ve been helping businesses transform their online presence and achieve their digital goals for over eight years. We’d love for you to be our next success story.