Mobile Commerce: M-commerce Trends and Strategies for 2024

What is mobile commerce?

Mobile commerce, or m-commerce, refers to the buying and selling of goods and services using mobile devices such as smartphones and tablets. This can include mobile-optimized websites, mobile apps, and mobile payment options.

Key mobile commerce statistics

According to Statista, mobile commerce sales are projected to reach $3.56 trillion by 2021, accounting for 72.9% of total e-commerce sales. Additionally, 72% of consumers have used their mobile devices to make purchases in the past 6 months. These statistics highlight the growing importance of mobile commerce in the retail industry.

Benefits of m-commerce

Convenience

Mobile commerce allows consumers to shop anytime, anywhere, making it extremely convenient for busy individuals. With just a few taps on their smartphones, they can browse products, compare prices, and make purchases on the go.

Instant gratification

With mobile commerce, customers can receive instant gratification as they can quickly find and purchase products they desire without having to wait to be in front of a computer.

Improved customer experience

M-commerce provides a seamless and personalized shopping experience, allowing businesses to engage with customers in real-time and offer tailored product recommendations and promotions based on their preferences and behavior.

More payment options

Mobile commerce offers a variety of payment methods, including mobile wallets, digital payment platforms, and in-app purchases, providing customers with flexibility and security when making transactions.

Location-based services

Using location-based technology, m-commerce can provide personalized offers and recommendations based on the user’s current location, creating a more engaging and relevant shopping experience.

5 ways to increase mobile commerce sales

1. Ensure your website is mobile optimized

Optimizing your website for mobile devices is crucial to provide a seamless and user-friendly shopping experience. This includes responsive design, fast loading times, and easy navigation.

2. Shorten your checkout process

Simplify the checkout process by reducing the number of steps required to complete a purchase. Implementing features such as guest checkout, autofill, and multiple payment options can help streamline the process and reduce cart abandonment.

3. Create your own mobile app or PWA

Developing a mobile app or Progressive Web App (PWA) can enhance the shopping experience and customer loyalty, offering features such as push notifications, personalized recommendations, and offline access.

4. Build an omnichannel customer experience

Integrate your mobile commerce strategy with other channels such as social media, email, and physical stores to provide a seamless and consistent experience across all touchpoints.

5. Focus on social commerce and chatbots

Utilize social media platforms and chatbots to engage with customers, offer personalized recommendations, and facilitate transactions directly within the social media environment.

M-commerce examples

Rare Device

Rare Device is a retail store that has successfully expanded into mobile commerce, offering a user-friendly app and mobile-optimized website to showcase their unique products and provide a convenient shopping experience for their customers.

SHEIN

SHEIN is an online fashion retailer that has leveraged m-commerce to reach a global audience, offering a mobile app with personalized recommendations, in-app purchases, and seamless checkout process to enhance the customer experience.

Hydro Flask

Hydro Flask has capitalized on mobile commerce by providing a mobile-optimized website and app, allowing customers to easily browse and purchase their durable and insulated products for on-the-go use.

Allbirds

Allbirds, a sustainable footwear brand, has embraced mobile commerce by creating a user-friendly app that showcases their environmentally friendly products and offers exclusive mobile-only promotions to their customers.

Mobile commerce trends

The rise of mobile apps

Mobile apps are becoming increasingly popular as they offer a more personalized and engaging shopping experience, allowing businesses to leverage features such as push notifications, loyalty programs, and in-app messaging.

One-click checkout

Streamlining the checkout process with one-click or express checkout options can significantly improve conversion rates and reduce cart abandonment, offering a frictionless purchasing experience for customers.

Social commerce

Social media platforms are evolving into powerful sales channels, enabling businesses to showcase products, facilitate transactions, and engage with customers directly within the social environment.

Chatbots

Chatbots are being used to provide personalized recommendations, answer customer inquiries, and assist with purchases, enhancing the customer service experience and driving sales through mobile commerce platforms.

Personalized recommendations

Using data analytics and machine learning, businesses can deliver personalized product recommendations and promotions to customers based on their browsing history, purchase behavior, and preferences, increasing the likelihood of conversion.

Start paying attention to mobile commerce today

As mobile commerce continues to grow and evolve, businesses need to prioritize their mobile strategies to cater to the increasing number of mobile shoppers. By embracing mobile optimization, leveraging new technologies, and staying informed about the latest trends, businesses can capitalize on the opportunities presented by m-commerce.

Mobile commerce FAQ

What does mobile commerce mean?

Mobile commerce refers to the buying and selling of goods and services using mobile devices, such as smartphones and tablets, and includes mobile-optimized websites, apps, and payment options.

What are the 3 types of mobile commerce?

The three types of mobile commerce are mobile shopping (e.g., purchasing products through mobile websites and apps), mobile banking (e.g., financial transactions and money transfers through mobile devices), and mobile payments (e.g., using mobile wallets and digital payment platforms).

What are the benefits of mobile commerce?

The benefits of mobile commerce include convenience, instant gratification, improved customer experience, more payment options, and location-based services, providing a seamless and personalized shopping experience for customers.

What are the types of mobile payments?

Mobile payments encompass various methods, including mobile wallets (e.g., Apple Pay, Google Pay), digital payment platforms (e.g., PayPal, Venmo), in-app purchases, and contactless payments using NFC technology, offering customers flexibility and security when making transactions.