Mobile eCommerce: M-Commerce Trends You Need to Know

Mobile eCommerce: M-Commerce Trends You Need to Know

Mobile eCommerce M-Commerce Trends You Need to Know blog image

Mobile e-commerce, or M-commerce, has emerged as a dynamic and game-changing force in online shopping.

With the increasing prevalence of smartphones and the convenience they offer, M-commerce is not just a trend but a fundamental shift in how we shop.

In this blog post, we explain what M-commerce is, how it can help your online store, and the latest M-commerce trends to look out for that are shaping the future of online retail.

Takeaways
  • M-commerce continues to experience rapid growth, with more consumers turning to their mobile devices for shopping
  • The increasing adoption of mobile wallets like Apple Pay and Google Pay is making mobile payment increasingly popular and convenient
  • Mobile commerce is moving towards enhanced personalization, leveraging data and AI to provide a more engaging user experience
  • Businesses prioritize mobile-first design to ensure websites and apps are optimized for seamless mobile browsing and shopping
  • Mobile AR is improving product visualization and interactivity, giving customers a more immersive and confident shopping experience

What Is Mobile eCommerce (M-Commerce)?

Mobile eCommerce, often referred to as M-Commerce, is a subset of electronic commerce (eCommerce) that involves buying and selling goods and services through mobile devices, such as smartphones and tablets.

It encompasses online transactions, payments, and other commerce-related activities conducted using mobile apps and mobile-optimized websites.

M-Commerce vs e-Commerce: Key Differences

Traditional e-Commerce and Mobile e-Commerce (M-Commerce) share the fundamental goal of buying and selling products or services over the internet, but they differ in various aspects.

Here are the key differences between these two forms of electronic commerce:

AspectTraditional e-CommerceMobile e-Commerce (M-Commerce)
Platform and Device UsageDesktop and laptop computers with web browser access.Mobile devices, primarily smartphones and tablets, using mobile apps or mobile-optimized websites.
Accessibility and ConvenienceLess accessible and convenient, requiring a computer with internet access.Highly accessible and convenient, allowing shopping from almost anywhere with mobile network or Wi-Fi connectivity.
User ExperienceLarger screens allow for extensive product descriptions, images, and navigation options.Optimized for smaller screens, resulting in concise product information and simpler touch-based navigation.
Shopping AppsApps are less common; many transactions occur on websites.Many businesses offer dedicated mobile shopping apps to support eCommerce for mobile users.
Payment MethodsUtilizes various payment methods, including credit cards, PayPal, and bank transfers.Emphasizes mobile payment methods, such as digital wallets (e.g., Apple Pay and Google Pay), for quick and secure transactions on mobile devices.

Mobile Commerce Examples

There are several mobile commerce examples that showcase how businesses are leveraging mobile technology to enhance the shopping experience and drive sales:

  1. In-App Purchasing

Mobile Games: Many mobile games, both free and paid, offer in-app purchases for virtual currency, power-ups, or cosmetic items. For example, the game “Candy Crush” allows players to purchase extra lives or power-ups using real money.

Streaming Services: Apps like Netflix, Spotify, and Disney+ offer in-app subscriptions for streaming content. Users can subscribe and pay for these services directly through the app.

  1. Mobile Banking

Banking Apps: Most major banks and financial institutions offer mobile banking apps that allow customers to check account balances, transfer funds, pay bills, and even deposit checks using their smartphones.

For example, the Chase Mobile app by JPMorgan Chase provides comprehensive mobile banking services.

Mobile Payment Apps: Apps like PayPal, Venmo, and Cash App enable users to send and receive money, make payments, and manage their finances directly from a mobile device.

  1. Virtual Marketplace Apps

Amazon: The Amazon mobile app is a prime example of a virtual marketplace app.

Users can browse, search for, and purchase a wide range of products, track orders, and manage their Amazon accounts directly from their smartphones.

3 Types of Mobile Commerce

There are typically 3 main types of mobile commerce in the eCommerce space.

Mobile Shopping

  • Involves browsing, selecting, and purchasing products or services using a mobile device (smartphone or tablet)
  • Utilizes dedicated shopping apps and mobile-optimized websites for a user-friendly experience
  • Users can add items to a virtual shopping cart and make purchases with a simple tap, making online shopping easily accessible

Mobile Banking

  • Refers to conducting financial transactions and managing bank accounts directly from a mobile device
  • Banks and financial institutions provide mobile banking apps for checking balances, reviewing transaction history, transferring funds, paying bills, and even depositing checks via smartphones

Mobile Payments

  • Involves transferring funds for goods and services using a mobile device
  • Relies on digital wallets and mobile payment apps for secure storage of payment card information
  • Users can complete transactions swiftly and securely by tapping their mobile device at contactless payment terminals

Mobile eCommerce Trends and Statistics

Mobile commerce is growing steadily and shaping the future of eCommerce.

Let’s explore some of the most recent mobile commerce statistics and trends to look out for that will shape the M-commerce space in 2024:

One-Click Checkout

One-click checkout, pioneered by Amazon, is gaining popularity.

One-click checkout simplifies the buying process by allowing customers to purchase with a single click, without entering extensive payment and shipping information. It reduces friction in the checkout process, reducing cart abandonment rates,

According to a Baymard Institute study, the average cart abandonment rate is about 70.19%. One-click checkout can significantly reduce this rate, as seen in Amazon’s success.

Mobile Payments

Mobile payment methods like Apple Pay, Google Pay, and digital wallets are increasingly used for convenience and security.

Statista’s report on mobile payment usage shows significant growth, with global transaction volumes expected to reach trillions of dollars in the coming years.

Mobile payments enhance security and convenience for shoppers, and the growing need for contactless transactions drives their adoption.

Ultra-Responsive Mobile Design

Websites and apps are adopting ultra-responsive designs to ensure seamless and visually appealing experiences on various mobile devices.

A study by Google found that 53% of mobile site visits were abandoned if pages took longer than 3 seconds to load.

With most web traffic coming from mobile devices, responsive design is essential to keep users engaged and prevent them from abandoning slow-loading or poorly formatted pages.

VR/AR

Virtual Reality (VR) and Augmented Reality (AR) are being used for immersive shopping experiences, allowing customers to “try before they buy.”

The global AR and VR market is expected to grow significantly, with a projected market volume of $53.7bn by 2027.

VR/AR enhances product visualization, reduces the uncertainty of online shopping, and fosters customer engagement, particularly in industries like fashion and home decor.

Social Commerce

Social media platforms are integrating shopping features, enabling users to purchase directly from posts and ads.

Statista reports that social commerce sales worldwide amounted to $992 billion in 2022 and is expected to reach 2.9 trillion by 2026.

This shows the growing impact of social media on e-commerce in creating a seamless shopping experience, especially for younger consumers.

Voice Search and Voice Shopping

Voice-activated search and shopping through devices like smart speakers and smartphones are becoming more prevalent.

Voice commerce statistics show that voice commerce has grown by 321.74% and is expected to grow by another 54.63% in 2024.

As voice technology becomes more accurate and popular, businesses must optimize voice search to stay competitive and provide a convenient shopping experience.

Retail Mobile Apps

Retailers are investing in dedicated apps that offer personalized experiences, loyalty programs, and seamless shopping.

As of 2022, mobile apps accounted for 25.7% of all online transactions. This demonstrates the importance of mobile apps in e-commerce.

Mobile apps provide an efficient platform for retailers to engage with customers and drive sales through push notifications and exclusive deals.

Mobile Chatbots

Chatbots provide real-time customer support, product recommendations, and a personalized shopping experience within mobile apps and websites.

A report by Statista shows that the use of chatbots in mobile commerce boosts revenue by 25%, reflecting their growing acceptance and effectiveness.

Chatbots provide instant responses and personalization, which can improve the overall shopping experience and drive conversions.

Pros and Cons of Mobile Commerce

What are the Benefits of Mobile E-Commerce?

Mobile commerce offers several benefits to both businesses and customers.

Here are some of the key benefits of mobile commerce:

  • Faster Purchases: Mobile shopping allows for quick and convenient transactions, reducing the time it takes for customers to make purchases. Users can shop on the go and complete transactions in seconds.
  • Better Customer Experience: Mobile apps and mobile websites provide a user-friendly interface, making the shopping experience smooth and enjoyable. Features like personalized recommendations enhance the overall experience.
  • Connection to Customers: M-Commerce enables businesses to engage with customers more effectively through push notifications, in-app messaging, and personalized offers, fostering a closer relationship.
  • Tailored Content: Mobile platforms can gather data on user preferences and behavior, allowing businesses to deliver tailored content and product recommendations, increasing the chances of making a sale.
  • Deeper Analytics: M-Commerce provides access to valuable data and analytics. Businesses can gain insights into customer behavior, preferences, and shopping patterns, helping them refine their strategies.
  • Scalability: Mobile commerce is highly scalable. Businesses can expand their reach and add new products or services without significant physical infrastructure costs.
  • A True Omnichannel Experience: Mobile devices bridge the gap between online and offline retail. Customers can seamlessly transition between in-store and mobile shopping, making it an essential part of an omnichannel retail strategy.
  • Variety of Payment Options: M-Commerce supports various payment methods, including digital wallets, credit cards, and other mobile payment options. This flexibility caters to diverse customer preferences.

What are the Disadvantages of Mobile Commerce?

While mobile commerce (M-Commerce) offers numerous advantages, it also comes with certain disadvantages:

  • Need to Optimize: Businesses must invest in optimizing their websites and apps for various devices and screen sizes. This can be time-consuming and may require ongoing maintenance and updates to ensure a smooth user experience.
  • Privacy Concerns: Mobile devices can be more vulnerable to privacy breaches and data theft. Customers may have concerns about the security of their personal and financial information when making mobile transactions.
  • Variety of Payment Methods: While a variety of payment methods can be seen as an advantage, it can also be a disadvantage for businesses that need to integrate and support multiple payment options, adding complexity to their payment processing systems.
  • Easier to Compare with Competitors: In the mobile environment, it’s easier for customers to compare products and prices with competitors. This can lead to price wars and pressure businesses to offer competitive pricing, potentially affecting profit margins.
  • Damage to Brick-and-Mortar Business: For businesses with physical stores, the growth of mobile commerce can divert customers away from in-person shopping, potentially impacting foot traffic and sales in brick-and-mortar locations.

Types of Mobile Payments Used by M-Commerce Businesses

Mobile commerce (M-Commerce) businesses employ various types of mobile payments to facilitate transactions.

Here are the different types of mobile payments used in M-Commerce:

Mobile Wallets (Digital Wallets)

Mobile wallets are digital versions of physical wallets, allowing users to store payment card information securely on their devices.

Examples of popular mobile wallets include Apple Pay, Google Pay, and Samsung Pay.

These wallets enable users to make contactless payments in stores, in-app purchases, and online transactions without the need to present a payment card physically.

Contactless Mobile Payments

Contactless mobile payments involve using near-field communication (NFC) technology to make payments by tapping or waving a mobile device near an NFC-enabled point-of-sale terminal.

This method is swift and secure, as it doesn’t require physical contact between the device and the terminal.

Users can make contactless payments with mobile wallets or specific mobile payment apps.

Closed Loop Mobile Payments

Closed-loop mobile payments are transactions that occur within a specific, self-contained system.

For instance, a business may develop its mobile payment app, and transactions made using it are considered a closed loop.

These apps often provide loyalty programs and rewards to encourage repeat business.

Mobile Point-of-Sale (POS)

Mobile POS systems use smartphones or tablets as portable payment terminals.

Businesses can accept card payments and mobile wallet transactions on the spot, making it convenient for businesses with mobile sales teams or those who attend events or markets.

Square and PayPal are examples of mobile POS solutions.

Money Transfers

Mobile commerce also includes person-to-person (P2P) and international money transfers facilitated by mobile payment apps.

Services like PayPal, Venmo, Cash App, and international remittance providers enable users to send money to friends and family domestically and abroad using their smartphones.

These platforms link to bank accounts or mobile wallets to transfer funds securely.

Type of Mobile PaymentDescription
Mobile Wallets (Digital Wallets)Digital versions of physical wallets; store payment card information securely on devices.
Contactless Mobile PaymentsUse NFC technology to make payments by tapping or waving a mobile device near an NFC-enabled point-of-sale terminal.
Closed Loop Mobile PaymentsTransactions within a specific, self-contained system; e.g., a business-developed mobile payment app.
Mobile Point-of-Sale (POS)Use smartphones or tablets as portable payment terminals; accept card payments and mobile wallet transactions on the spot.
Money TransfersInclude person-to-person (P2P) and international money transfers facilitated by mobile payment apps.

Deciding Between Mobile eCommerce Website and Mobile eCommerce App

The choice between a mobile commerce website and a dedicated app depends on several factors, including your business goals, target audience, and available resources. Both options have their advantages and disadvantages.

Ultimately, many businesses choose to have both a mobile website and an app to cater to a wide range of users.

The decision may also depend on your business’s specific needs and goals. For example, if you have a loyal customer base and can invest in app development, creating a dedicated app could enhance user engagement and brand loyalty.

However, if you’re focused on reaching a broader audience quickly and cost-effectively, a mobile website may be the way to go.

Mobile Commerce Strategies You Should Follow

Incorporating mobile commerce into your business model can enhance the customer experience, drive sales, and keep your brand competitive.

Here are the mobile commerce strategies you should follow when incorporating mobile eCommerce:

Prioritize a Mobile Commerce Platform Over Design Trends

When it comes to mobile commerce, functionality, and user experience should take precedence over mobile design trends.

While a visually appealing app or website is important, ensure the platform is easy to navigate, loads quickly, and supports essential features like seamless checkout, user account management, and personalized product recommendations.

Focus on a mobile commerce platform that is responsive, fast, and user-friendly to enhance the overall shopping experience and drive higher conversion rates.

Use Brick-and-Mortar Locations for In-Store Pick Up

Many successful mobile commerce strategies involve bridging the gap between online and offline retail.

Offering in-store pick-up options allows customers to order products online and collect them at a physical store, providing convenience and reducing shipping costs.

This mobile commerce strategy can also drive foot traffic to brick-and-mortar locations, increasing the chances of additional in-store sales.

Rely on Social Commerce Features

Social commerce integrates the shopping experience with social media platforms.

Utilize features like ”Shop Now” buttons on Facebook or Instagram, where users can browse and buy products directly from your social media profiles.

Social commerce leverages the power of social networks and their vast user base to drive sales and engage with customers on their preferred platforms.

Leverage Mobile Chatbots

Mobile chatbots provide real-time customer support, answer queries, and assist with product recommendations, all within a mobile app or website.

These AI-driven chatbots enhance user engagement, reduce response times, and offer personalized assistance, ultimately improving the customer experience and increasing sales.

Utilize Mobile Augmented Reality (AR)

Mobile AR technology allows users to visualize products in a real-world context using their mobile devices.

For example, furniture retailers can offer AR features that let customers see how a piece of furniture would fit in their homes.

This immersive experience boosts confidence in purchasing and reduces the likelihood of eCommerce returns.

Build an In-App Loyalty Program for Mobile Devices

Loyalty programs designed specifically for mobile apps can foster customer retention and brand loyalty.

Offer incentives like discounts, exclusive access, or points-based rewards to encourage repeat business.

In-app loyalty programs encourage users to return, purchase more, and engage with your mobile platform regularly.

8 Best Mobile eCommerce Platforms and Software

There are several mobile platforms and software that are now helping businesses to incorporate M-commerce into their operations.

Here are some of the best mobile commerce software on the internet:

  1. Ecwid

Ecwid

Ecwid is a versatile and easy-to-use mobile commerce platform that allows businesses to add an online store to their existing website or social media profiles.

It offers seamless integration with existing websites and social media profiles.

It also has a mobile-responsive design for a great shopping experience on smartphones.

This mobile commerce platform effectively supports various payment options and multiple languages for a global audience.

  1. Volusion

Volusion

Volusion is an all-in-one eCommerce platform that provides tools for creating, managing, and growing an online store.

It has several mobile-responsive themes for optimal viewing on mobile devices.

Volusion also has built-in SEO tools to improve search engine rankings for your eCommerce store and make it more visible to users.

Additionally, it has inventory management and order processing tools that can effectively support your online business.

  1. Shopgate

Shopgate

Shopgate is a mobile commerce app that specializes in creating high-converting mobile shopping experiences.

It’s an omnichannel solution that offers a platform for Mobile app development for iOS and Android devices.

It also offers mobile-optimized web stores with a focus on speed and performance.

  1. Poq

Poq

Poq is a mobile commerce platform that helps retailers create and maintain native shopping apps for their customers.

It empowers brands to give their customers an outstanding shopping experience anywhere, anytime

This eCommerce mobile software supports native mobile app development for iOS and Android.

It offers personalization and engagement tools and supports integration with various eCommerce technologies and systems.

  1. Salesforce

Salesforce

Salesforce is another mobile software designed to create fast, engaging, and progressive web apps for online stores.

It offers progressive web app development for mobile users and accelerated mobile pages (AMP) for speedy loading.

Like Poq, Mobiry offers personalization and push notification capabilities for M-commerce apps.

  1. Via

Via

Via is a unified SMS and mobile App platform designed to help businesses quickly create and manage online stores on their smartphones.

It offers several mobile-responsive templates and themes for setting up online stores faster.

Visa also supports integration with popular eCommerce platforms like Shopify and payment gateways like Paypal.

Additionally, it helps to make your store more visible through its marketing tools and SEO features.

  1. Bolt

Bolt

Bolt is a mobile checkout and eCommerce platform that focuses on improving the checkout process to reduce cart abandonment and increase conversions.

It offers a fast one-click checkout process that reduces the time and effort it takes customers to complete a purchase.

Bolt app is mobile-optimized for seamless shopping on all devices and is the best M-commerce tool for fraud prevention and risk management.

  1. AmazingCart

AmazingCart is another robust eCommerce platform that helps you turn your existing website into a mobile-friendly online store.

It can take your entire web store and convert it into a native Android or iOS shopping app that’s convenient for mobile users.

This M-commerce tool offers a mobile-optimized shopping cart with a simple checkout process.

AmazingCart integrates with various content management systems and supports multiple languages and currencies.

Final Word

Mobile eCommerce is not the future; it’s the present that every eCommerce business owner should start embracing.

To harness your full potential and stay ahead in your mobile commerce strategy, it’s important to choose the right e-commerce hosting to give your customers a seamless, fast, and secure shopping experience.

Don’t let your competitors outpace you—invest in the best eCommerce hosting and watch your eCommerce business flourish!

Next Steps: What Now?

Learn More About eCommerce

Frequently Asked Questions

What is mobile commerce in e-commerce?

Mobile commerce (M-Commerce) in e-commerce refers to the subset of electronic commerce that involves buying and selling goods and services through mobile devices, such as smartphones and tablets. It encompasses online transactions, payments, and various other activities related to commerce conducted using mobile apps and mobile-optimized websites.

What is an example of mobile e-commerce?

An example of mobile e-commerce is using a dedicated mobile shopping app, like Amazon’s mobile app, to browse, select, and purchase products on a smartphone. Users can view product catalogs, make secure payments, and enjoy a convenient and user-friendly shopping experience through the app.

What is the difference between e-commerce and mobile commerce?

The primary difference is the platform used for transactions. E-commerce includes all electronic transactions, which can occur on desktops and laptops, whereas mobile commerce involves transactions conducted on mobile devices like smartphones and tablets.

What are the five attributes of mobile commerce?

The five key attributes of mobile commerce include:

  • Accessibility and convenience for on-the-go shopping
  • Mobile payment options, like digital wallets
  • Integration with location-based services
  • Engagement through push notifications
  • Mobile-optimized design and user experience tailored for smaller screens
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