The United States eCommerce market currently accounts for 16.1% of total retail sales. That is billions of dollars. And believe it or not, this sector hasn’t even been piqued yet – as it’s expected to surpass the $1 trillion mark in 2022. It’s also forecasted that the average spend for each digital buyer will rise at a compound annual rate of 11.6%, between 2022 and 2025. Although the realm of eCommerce will continue to explode across all channels, mobile commerce –or mCommerce–will undoubtedly be the greatest profiter.
In today’s fast-paced world, customers overwhelmingly defer to their mobile devices for online retail purchases. In fact, mCommerce purchases will account for a staggering 40% of retail eCommerce in the US this year. 85% of these transactions will occur via smartphone.
In 2021 alone, it’s estimated that mCommerce generated almost 6% percent of all US retail sales. Again, a number representing billions of dollars that can feasibly double by 2025.
What Is Mobile Commerce (mCommerce)?
Mobile commerce is a subset of eCommerce, where online sales occur on mobile devices (smartphones or tablets) as opposed to stationary desktops.
Why the focus on buying and selling via mobile devices? For one, the use of smartphones has skyrocketed in recent years. Ericsson and The Radicati Group estimated the number of worldwide smartphone users to stand at a whopping 6.64 billion in 2022, a notable increase from 4.43 billion in 2017. This trend isn’t surprising, considering the sheer convenience of having pocket-sized access to anything you could possibly desire at a moment’s notice.
As we’ve come to rely on our mobile devices for virtually everything – from shopping sprees in bed to ordering delivery without uttering a word–mCommerce has become part of our daily lives. Though it indisputably helps us get through our lazier days a little easier, online purchasing power offers instant, remote access to necessary services as well–such as banking, travel, contactless payment options–to name a few on an ever-growing list.
Making the mobile commerce experience as frictionless as possible for consumers offers an array of benefits. When sites load quickly, are user-friendly, and provide a simple checkout procedure, it encourages consumer spending. Higher consumer spending equals more money in your pockets.
Mobile commerce also allows for more personalized interactions between customers and retailers. Features like push notifications and social media integration pose excellent marketing opportunities. The data gathered via a customer’s mobile helps companies track user behavior and real-time location. This, in turn, lets them provide tailored recommendations and promotions to further satisfy the customer and drive sales.
For retailers, it’s essential to optimize and diversify the mobile payment experience. So, what are the top mobile-friendly practices for your mCommerce site in 2022 and beyond?
1. Focus on Easier UI and Navigation
Consumers prioritize convenience. For this, mobile devices are incredible assets… but only if the mobile commerce site provides a user interface (UI) that works as effectively on a smartphone as it does on a desktop computer.
The handiness of pocket-sized devices poses the challenge of having a straightforward, efficient, scaled-down-to-size UI. That means implementing a simple design that balances appealing visual cues/links with fast loading times, This includes measures such as ensuring there’s enough “touch space” for users to interact with the screen.
The user experience, or “UX,” is key. The world of mCommerce is not only about visual appeal. Customers expect sites to load in mere seconds while also supporting all of the features they once enjoyed on their desktops. Mobile devices open immense opportunities for even more modern, automated tools, such as auto-suggestions and voice recognition.
2. Mobile Commerce Should Offer a Streamlined Checkout Experience
Checkout is undoubtedly the most important part of a mobile commerce experience. Unfortunately, there are a million and one things that can go wrong here, and customers are rarely forgiving of these technical issues. Many shoppers will outright abandon their carts before wasting another minute or being asked to manually enter their information for the fiftieth time. To be effective, the process must be fast and user-friendly.
In efforts to convert browsers into buyers, the one-click order button poses infinite value. Here, customers only need to enter their personal information and payment details once. After that, this data is stored on the platform for future, one-click purchases.
Another tip is to minimize distractions. Focus on displaying the most important information–such as cart contents–on the checkout page. Don’t complicate the process by adding unnecessary elements, or far worse, making user registration a requirement. In addition, payment gateway security icons and trust signals like an SSL certificate are essential for easing consumer concerns surrounding online payment security.
3. Leverage Social Commerce
For businesses, social media isn’t just for building brand awareness. New features on social media platforms are allowing businesses to tag real-time products in their social media posts. From there, customers can make direct purchases without even leaving the app.
In the US, social commerce generated $36.62 billion in sales in 2021–up an astounding 35.8% from the previous year. Facebook and Instagram are currently leading the social commerce trend, while countless other platforms follow suit to cash in as well.
4. More Prevalent Use of Mobile Chatbots
Artificial intelligence (AI) and the Internet of Things (IoT) are working to simplify and automate the business landscape. One example is the virtual chatbot, which today, is a staple of corporate customer service–and set to make its mark on mCommerce as well.
AI-enabled chatbots are already streamlining the mCommerce experience, speeding up processes, and improving functionality. Online shoppers are more tech-savvy than ever, and they appreciate the improved interaction and responsiveness that a voice assistant brings to mCommerce platforms. As mobile sites require simpler user interfaces, chatbots can also help to fill the potential information gap by answering queries and redirecting customers.
5. Good Mobile Commerce Uses Voice Shopping More
Voice search penetrated the eCommerce market in 2021 and has proven to be a natural transition for customers already familiar with Siri. An increasing number of apps, devices, and websites are leveraging the hands-free advantage of voice assistants. Out of all searches made via mobile devices, about 20% are voice-based. That’s right, 1 in 5.
Voice assistants facilitate hands-free searches and online interactions, making them ideal for mCommerce. According to a recent survey, the top benefits of voice-assisted shopping include convenience (56%), saving time (55%), and saving money (26%). The feature holds great potential for mobile online shopping, considering 45% of US millennials are reported to shop using voice search.
Bring Smart Solutions to Your mCommerce Business
The eCommerce market is rapidly shifting from computers to smartphones. Mobile commerce is the smart solution for online shopping, and hosting a mobile-friendly site is a vital part of any mCommerce business.
Implementing top practices–such as ensuring an excellent user experience through simplified interfaces, streamlined checkouts, virtual chatbots, voice shopping, and one-stop social commerce–is imperative to mCommerce success.
Mobiecom by Zobrist has a mobile responsive capability, making it a perfect choice to deliver these smart solutions into your mCommerce operations with ease. Mobiecom is a single-page application that runs virtually on any device rendering optimized UI at a lightning speed. Consider a demo of Mobiecom at zobristinc.com, today!