11 May
How to grow m-commerce in 2022
Just as mobile devices have grown in popularity over the years, so has mobile commerce, also known as m-commerce.
Using a mobile device allows consumers to browse and shop from anywhere, which can increase impulse and on-the-spot purchases.
That's why when we designed our Cuborio CMS, we thought about our customised m-commerce all in Italian, in addition to the classic single m-commerce.
M-commerce, or mobile commerce, takes place through the use of a hand-held mobile device, such as a phone or tablet, to conduct various online business transactions. These transactions may include browsing and purchasing products, conducting online banking and investment transactions, or paying bills.
With m-commerce, consumers can shop on the spot from anywhere, as long as they have a cellular signal and a data plan.
Mobile shopping trends have shown that m-commerce is the future of shopping due to its convenience and streamlined technological advances that make it easy and attractive to consumers. According to a US study, nearly 3 out of every 4 dollars spent on online purchases are spent through a mobile device , proving that m-commerce is an extremely versatile and popular way to shop online.
E-commerce trends
Retail m-commerce sales reached $359.32 billion in 2021, up 15.2% year-on-year. By 2025, these sales are expected to more than double to $728.28 billion, and account for 44.2% of US retail e-commerce sales. By 2024, m-commerce volume is expected to be $620.97 billion, or 42.9% of e-commerce sales.
M-commerce also holds a unique position within the mobile wallet gateway payment systems industry, which is expected to reach $3.5 trillion in earnings by 2023. Users are more likely to use a mobile-friendly website that remembers their payment information. By storing this data, m-commerce provides first-hand access to a better end-user experience.
Finally, voice shopping is steadily gaining popularity as voice-controlled smartphone assistants, such as Siri, gain new advanced features. In 2018, voice shopping was a $2 billion industry. This number is estimated to grow to over $40 billion by the end of 2022 - that's 1900% growth! It is crucial to ensure that your applications have taken voice capabilities into account.
This is why more and more companies see the potential of m-commerce, and why retailers need to think and plan their digital marketing strategies in advance to stand out from the competition.
How e-commerce managers can optimise the mobile-first experience
In the world of m-commerce, there is a lot of competition. If a company's website does not highlight products effectively, this can lead to lost sales. For retailers to optimise the mobile-first experience and retain customers, companies should consider ways in which they can establish efficient workflows to create a positive shopping experience for customers.
First, retailers should ensure that pages load quickly and are easy for a consumer to navigate, because 61 per cent of mobile users will not return to a website that is not optimised for mobile.
That's why Cuborio has the ability totag productattributes and offer various category filters to lead to a smoother shopping experience for consumers, as they can filter out the types of items they don't need and browse only for what they are looking for.
While these suggestions can help optimise the customer experience, there are other aspects of running an ecommerce business that require the implementation of more advanced data and automation, which may require many additional resources, all of which are already present in Cuborio.
With the help of our customised AI-based solutions , our customers can simplify their optimisation process to drive online sales.