[Think to Share] Rise of mobile commerce: how is it affecting shopping habits?
Consumers can’t get enough of their mobile devices – and that is a fact. Moreover, google has recently made an announcement regarding transferring more and more websites to mobile first index. But, how is this technology shaping up shopping behaviors?
E-commerce was once a huge trend because it brought retail home. Even though the transition was quick, mobile e-commerce or simply, m-commerce is what’s on everyone’s mind.
The days of finding a desktop shop are gone! Now, shoppers can shop while on-the-move. Statistics say that by 2020, m-commerce sales would have hit a whopping $250 billion.
Have you made the transition yet? Is your e-commerce store optimized for the mobile? If you are still waiting to test the water and thinking that this is just a fad, keep reading to know how mobile e-commerce is revolutionizing the attitude and behavior of the modern shoppers.
Consumers like having what they need (want) at their fingertips
E-commerce definitely brought convenience and m-commerce is taking convenience to a whole new level. Mobile users are thoroughly enjoying finding what they need, from groceries to furniture, shoes and everything in between, at their fingertips. A few touches are all it takes today to shop and with over 2 billion mobile users making online transactions, via their smartphone or tablet is proof that m-commerce is here to stay (until, of course, AI takes the center stage!).
Chatbots make communication so much easier while shopping!
In today’s busy world, who has the time to call the customer support executive and stay on hold for a good 10 to 20 minutes? Moreover, if the query is as simple as ‘where is my order?’ or ‘how can I replace my order?’. This is where chatbots are making things simpler. Shoppers can simply chat with the chatbots from their mobile devices and get the answer that they’re looking for.
Impulsive shopping increases with mobile shopping facility
Numerous independent studies and surveys have been conducted to determine how many purchases are made on impulsive buying decisions. One such independent study revealed that approximate 42% of purchases on mobile are based on impulsive decisions.
If you sit down to think about it, impulsive purchases are actually possible on mobile devices because people have their smartphone or tablet almost at all times. This means that they can check out shopping sites while traveling, standing in a queue at the bank, getting bored listening to a college lecture or boardroom meeting and so on. What impulse purchase means for an online retailer is more sales, which equals more profit and success.
Digital wallets are boosting the growth of m-commerce
India alone is expected to have 530 million mobile device users by the end of 2018 and 52 key countries across the globe are estimated to have 66% of individuals owning a mobile phone. The increase in mobile device users has pushed companies to come out with easy-to-use electronic wallets, such as Paytm, PayPal, ApplePay and so on. These digital wallets can be seamlessly linked with mobile e-commerce sites to make purchases. This further enhances the charm of shopping, via mobile devices and saves shoppers from a lot of hassle.
A compact, one-touch solution was yearned by shoppers for a very long time and that is exactly what m-commerce brings to them. It is a new-age of shopping and whoever has not joined the bandwagon yet, are losing out on the market share.
It can be safe to say that m-commerce has become embedded in the very shopping experience of customers. You may not completely discard the desktop-version of your online retail store, but it will be wise to make your online store more responsive to mobile devices. This will fetch you more customers and of course, more return on your investment.
So, are you ready now to take the plunge? Without further ado, get started on making your desktop-based online store mobile responsive and seek the help of a professional digital marketing company to bring more mobile users to your site. To take the shopping experience one step further, you can also think about creating a mobile application and offer great discounts to create a sense of urgency among shoppers.