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$ $6.3 trillion in 2023 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 with 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 strategies and trends impacting the business. Moreover, we’ll also dig deep into the impact that these trends will have on the entire eCommerce realm.
Mobile commerce also known as mCommerce or m-commerce is one of the most promising trends in eCommerce industry. 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 only related to mobile devices such as smartphones and tablets.
The emergence and evolution of mobile commerce have also given rise to a plethora of new services. It includes:
Mobile commerce trends have been evolving as there are new advancements in technology every year. Below are the top mobile commerce trends of 2024 that will go beyond:
Although mobile purchasing has become increasingly popular, buyers still need help concerning obstacles. According to mobile eCommerce statistics from a poll, 67% of respondents cited “pages and links being too small to click on” as a barrier to buying on mobile devices. Another 36% of users said that “difficulty finding what they’re looking for” was a barrier to mobile buying.
Additionally, as mobile devices now account for 61% of Google search results, websites that don’t offer flawless mobile shopping experiences are penalized by search engines. For instance, Google’s transition to mobile-first indexing considers a website’s mobile experience when deciding where each page should rank—even if the searcher opens it on a desktop. So, it is recommended that when you think about creating a mobile commerce strategy, leverage the skills of some topmost eCommerce developers to optimize your website for mobiles and smartphones as they are aware of technology industry trends and benefits.
For mobile shoppers, a better user experience is a major selling point. However, consumers use retail apps rather than transition from websites on their mobile devices. In fact, mobile apps are preferred by 85% of users over mobile websites. The use of shopping apps on tablets and smartphones is reported by 69.4% of internet users. This highlights why many businesses switch from eCommerce to mCommerce for better sales growth.
Retail mobile apps, as opposed to ecommerce websites, which are occasionally mobile-friendly optimized, are made exclusively for smartphone devices. Customers can often navigate and find what they’re seeking more easily.
It’s common and understandable for customers to worry about their privacy when surfing online, especially while making purchases. The fact that governments are facilitating mobile buyers’ use of private browsing modes on the Internet is a significant concern. For instance, Google Chrome will start restricting third-party cookies in 2024, posing challenges that companies must address.
Even while this is wonderful news for consumers who value their privacy, DTC businesses can only get a certain amount of information from consumers. According to our analysis, at least 28% of IT decision-makers worldwide anticipated that the new rules governing consumer data and privacy would prevent them from achieving their growth objectives for 2024 and beyond.
Producing zero-party data—information willingly provided by your customers—is one method to fight that. Most companies want to use tools like quizzes to provide their consumers with personalized product suggestions.
The term “Metaverse” has become very popular in the internet community and metaverse trends will continue in all sectors including mobile commerce. Consumer participation in a different virtual world is rising, not just in gaming metaverses like Roblox. This will enable customers to buy virtual goods from their preferred brands.
Location-based marketing is one of the popular trends in the advertising industry. The targeted mobile advertising spend in the United States alone is forecasted to surpass $32 billion by the end of 2023. Many leading retail companies such as Target, Macy’s, and J C Penney have turned towards location-based marketing to increase sales and drive in-store traffic.
Brands use location based marketing to help consumers find the nearest location of their favorite stores. Retailers also utilize location-based marketing to provide a more personalized shopping experience to their users.
Location-targeted ads are an effective way of cutting through the marketing noise and delivering offers that meet the needs of the consumers.
Retailers and eCommerce industry can benefit from the following two types of location-based ad strategies;
In geofencing, the retailers create a specified radius around a physical location in which targeted ads are served to attract customers.
In geotargeting, the retailers target the customers based on past visits to specific locations.
Location-based advertising will be one of the hot mCommerce trends as it will help brands connect with users on a deeper level.
Video marketing will make up more than 82% of all consumer internet traffic in 2024. That will be 15 times higher than the 2017 levels. According to EyeWideDigital, a video boosts the conversion rate by 80%. One reason for the high conversion rates of a video, as opposed to text, is that humans process an image much faster as compared to text.
The popularity of video as a marketing tool has received an impetus with the emergence of short video platforms Such as YouTube Shorts, Instagram Reels, and TikTok. Many businesses have now built their own video production departments to focus on video marketing.
eCommerce business owners use video marketing in the following ways
• Provide video of the products on the product page
• Allow the users to attach the product videos to their reviews
Video marketing can prove to be one of the most important trends to watch out as it is a proven performer in terms of conversion rate.
Well-known business brands such as Starbucks, Walmart, and Boston Market have integrated QR codes as an integral part of their marketing strategy. While McDonald’s has put QR codes on its packaging to allow the consumers to get details of the nutrition value on their food, Boston Market enticed consumers towards its restaurants by offering them prizes if they scanned a QR code.
Retailer Express is a brand that places QR codes on the emails that it sends to the consumers, this allows them to shop the featured looks directly from the email.
The QR codes provide the following benefits to marketers
QR code is one of the most exciting mobile commerce trends that will be explored by brands to increase their brand value.
The global social commerce market is expected to reach $2.9 trillion by the year 2026.
Through social commerce, businesses sell products directly via social media networks. Social commerce is different from social media marketing as the business won’t redirect the users to an online store, but instead allow the users to directly checkout from the social media network.
A majority of Smartphone users spend a significant amount of time on social media and this is why social commerce is going to be one of the best mobile commerce trends to look out for in 2024.
Social commerce can provide the following benefits to a mCommerce business;
A hassle-free checkout process plays a very important part in delivering a comprehensive experience to mobile device users. We all know that while checking out, the customer has to enter a lot of information. Thus, one-click ordering is essential as it allows the users to complete the entire shopping process in, yes, just one click.
This reduces the shopping cart abandonment rate, a win-win situation for business owners and customers. The implementation of the one-click ordering technology is one of the important m-commerce trends that more eCommerce businesses will apply in the future.
Be it Google’s Assistant Apple’s Siri or Amazon’s Alexa, the popularity of voice assistants is growing by leaps and bounds. Voice commerce has emerged as one of the most popular mobile commerce trends and its popularity can be realized as users prefer to use voice command over manual typing.
Voice technology is perfect for multi-taskers as they do not require a keyboard or mouse to enter the data. Moreover, there is still scope for improvement in Voice technology. It needs to support more accents and languages. But despite the need for improvement, Voice technology trend is still vital for mobile commerce on the whole.
It’s no hidden fact that chatbots have been around in the digital realm for ages. And now leveraging the chatbot technology for eCommerce platforms can help to achieve new levels of customer satisfaction.
Rendering personalized services is very important as it plays a pivotal role in keeping customers hooked to mCommerce app. Chatbots, although with some amazing benefits, are still finding their feet in the mobile world. This gives you an opportunity to ride on one of the most promising mCommerce trends and take the early bird advantage from your peers.
Below is a complete pictorial representation of the potential benefits of chatbots in mobile commerce
One of the most important mobile commerce trends is NFC(Near-Field Communication). NFC is a part of a multichannel experience that enables contactless payment for mobile device owners. Thus, it allows them to complete their overall in-store transactions swiftly.
The NFC systems use the same chip found in credit cards, but when the mobile owners opt for these services, they are referred to as NFC payments only.
The prime objective of NFC is to remove the complexity of the payment process and complete all kinds of transactions speedily. Moreover, the users can use the NFC tags to obtain more information about the product as well. Thus, they also make their entire shopping experience more eventful.
In the modern era, a seamless shopping experience is one of the primary requirements of the customers. Thus, including the trending omnichannel approach in mobile commerce strategy would be a better choice. The new-age customers tend to switch between devices; thus a multi-channel marketing approach will help increase the range of products.
Moreover, a multichannel marketing strategy is not as hard as it seems. Start it by following these simple steps:
Artificial Intelligence allows the technology to understand the pattern of repetitive human habits. Along with Machine learning, it has become one of the hottest m-commerce trends going around in the realm of e-commerce.
With AI and ML, marketers can automate and give customers a personalized shopping experience all at once. Before the emergence of modern algorithms, the process of recommendations was done manually and it was error-prone.
Along with recommendations, Machine Learning can also help in a product by giving thoughtful and more relevant results. By providing more personalized recommendations Artificial intelligence and Machine Learning can increase sales for businesses.
Mobile commerce is an undisputed rising star in the ecommerce realm. Moreover, as far as the numbers are concerned, they are terrific for mcommerce. For example, the total spending on mCommerce is projected to reach more than $740 billion in 2024. This means it has a whopping 150% increase as compared to its status in 2018.
In addition, research has also shown that more than 66% of the total money spent by customers in online shopping is done using a mobile device.
As the trends suggest, the future of the eCommerce realm will be dominated by mobile commerce. Moreover, a comprehensive eCommerce development guide will assist you in building a competent mobile commerce platform. To ride the bandwagon of mCommerce, you need to be aware of all the latest mobile commerce trends. Moreover, with the expansion of technology, businesses would be looking to build a niche mobile commerce market to cater to the needs of their customers.
Furthermore, it has become necessary for businesses to have a competent mobile commerce strategy for the upcoming trends.
An enthusiastic Operations Manager at TopDevelopers.co, coordinating and managing the technical and functional areas. She is an adventure lover, passionate traveler, an admirer of nature, who believes that a cup of coffee is the prime source to feel rejuvenated. Researching and writing about technology keeps her boosted and enhances her professional journeying.