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As the popularity of mobile devices has increased over the years, so has mobile commerce, aka m-commerce. The use of a mobile device allows customers to browse and shop from anywhere, which can increase customer impulse and make purchases on the spot.
As more businesses see the potential of e-commerce, retailers need to think ahead and plan ahead to outperform their competition. Here are some mobile shopping trends and strategies to move forward in M-Commerce in 2022.
What is M-Commerce?
M-commerce, or mobile commerce, is the use of a handheld mobile device, such as a phone or tablet, to conduct various business transactions online. These transactions may include browsing and purchasing products, online banking and investing, or paying bills. With M-Commerce, consumers can shop from anywhere as long as they have a cell signal and data plan.
Mobile Shopping Trends has proven that M-Commerce is the future of shopping due to its convenience and streamlined technological advances that make it easy and attractive for consumers. According to Oberlo, about 3 out of every ડો 4 spent on online shopping is done through a mobile device, proving that M-Commerce is the most popular and popular method of online shopping for users.
Updated m-commerce trends
There are numerous trends that dominate the e-commerce industry today. For example, while social media dominates industries such as fashion and tech, it is also contributing to more e-commerce sales. Data from App Inventive shows that 55% of shoppers on their smartphones made purchases after seeing the product on social media platforms.
Voice shopping continues to gain popularity as voice-controlled smartphone accessories such as Siri get advanced new features. In 2018, voice shopping was a 2 billion industry. That number is projected to rise to over $ 40 billion in 2022 – a 1900% increase! It’s important to make sure your applications take into account voice capabilities.
Sales of retail m-commerce reached 9 359.32 billion in 2021, up 15.2% from the previous year. By 2025, these sales should more than double to reach $ 728.28 billion, and with a 44.2% share of retail e-commerce sales in the US, by 2024, m-commerce volume is projected to reach $ 620.97 billion, or 42.9% of e-commerce. Sale
M-Commerce also has a special place in the mobile wallet industry, which is expected to reach $ 3.5 trillion by 2023. Users are more likely to use a mobile-friendly website that remembers their payment information. By storing these details, people in the e-commerce space have manual access to a better end-user experience.
How retailers can optimize the mobile-first experience
There is a lot of competition in the world of e-commerce. If a business website does not effectively highlight products, it can lead to a drop in sales. In order for retailers to optimize the mobile-first experience and retain customers, businesses should consider ways to establish efficient workflows to create a positive shopping experience for customers.
First, retailers should ensure that pages load quickly and are easy for the consumer to navigate. A survey by IMPACT shows that 61% of mobile users will not return to a website that is not mobile optimized. Additionally, tagging product features and offering different categories of filters can be an easy shopping experience for customers, as they can filter out the types of items they don’t need and browse for just what they’re looking for.
While these tips can help optimize the customer experience, they need to be implemented, which can take a lot of resources. With the help of visual AI solutions, businesses can streamline their optimization process to increase sales.
2022 M-Commerce Tips for Success
1. Choose the right technology strategy
As competition in e-commerce and retail grows, startups are taking advantage of AI to personalize the product search process for buyers and retailers. Faced with increasing pressure from influential players, many small retail and e-commerce companies are looking for new strategies to differentiate themselves and attract customers. In response, startups have emerged to help retailers and e-commerce players streamline operations and personalize customer service, often through the use of AI-powered technology.
In particular, many startups are taking advantage of AI to improve product search for both consumers and their retailers. While startups like Twiggle focus on improving e-commerce search through natural language processing, other retailers like OMNIOUS.AI help optimize the results seen by consumers. This will increase mobile traffic and sales. Visual search guides customers to make a purchase by accurately displaying the item they are looking for, as well as related items that might interest them. This image recognition software helps customers use their time productively by browsing through product recommendations based on what interests them rather than a random classification of suggested items. It also helps customers quickly identify the product they want, which gives them the initiative to purchase on the spot.
2. Personalization is key in mobile commerce
Currently, consumers want relevant and targeted information. Companies use a variety of approaches to create these personal experiences, including allowing buyers to self-disclose their preferences and demographics, or to purchase data. Recently, personalized user experience has been a crucial factor leading to conversions on mobile.
3. Optimize shopper travel
If you want customers to buy your product, the purchase process should be easy. The fewer steps a customer has to pay to make a purchase, the higher your conversion rate will be. Think about how you can help your customers reach checkout in less time.
Optimizing the commercial experience for all settings, touchpoints and environments will be the next frontier for the world’s leading retailers.
Here are some key benefits of optimizing your e-commerce experience:
- Conversion Rate Increase – A non-friction travel and optimized retail experience makes it easier for new customers to become regular shoppers.
- Brand Identity – Any positive experience with the brand enhances recognition through word-of-mouth, positive reviews or repeat buyers.
- Loyal customers – Consumers support brands that provide personalized experiences for both digital and physical touchpoints.
4. Refine smartphone shopping cart features
Features of a retailer’s shopping cart can make or break a customer’s item. Abandonment of carts with M-Commerce is a big problem, therefore, certain features are important to ensure that customers return to buy the product they are interested in.
All product information and data should be stored in the shopping cart so that customers can easily revisit and buy something later. The cart should be a gateway for customer orders, retailer lists and customer management so that customers can get everything they need in one place.
By refining the features of the shopping cart, the business can simplify the customer’s checkout experience to ensure that they do not face any obstacles or inconveniences that will cause them to leave their cart.
5. Improve personalization based on mobile data
Customers who browse and shop in M-Commerce create valuable data, which can be useful for retailers to create a customized shopping experience. As consumers browse, data is generated that helps retailers see their browsing and shopping habits as well as affiliate and purchase history.
This information helps customers get the best shopping experience. Retailers can communicate with customers the way they choose to give them a personalized experience. By looking at customer buying patterns, businesses can better understand what their customers are most interested in. This will help determine which products or services are working best.
6. Update your smartphone recommendation engine
Rely on product recommendations to help customers find what they are looking for. When a customer browses by looking at the company’s products on their smartphone, they expect to see a list of similar or complementary items that go with what they are seeing.
In M-Commerce, it is important to keep the smartphone recommendation engine updated with the latest, while still relevant, products so that consumers browse new items and increase sales. Based on user preferences, browsing history, and previous sales, retailers can tailor their results so that the customer sees the products they are most likely to purchase. Using this tool helps you bring your products to the right customers.
7. Focus on the overall digital phone user experience
Retailers should focus on the overall digital phone user experience, keeping in mind that this is very different when it comes to shopping using a computer. M-commerce customers are often in a hurry, distracted by things around them such as phone notifications and apps that grab the user’s attention and they are in search of quick results. Because of this, retailers benefit from focusing their efforts on ensuring that customers’ browsing experiences are enjoyable and free from any bugs, lags or navigation. Each consumer will purchase on a different device, so retailers should ensure that the experience is optimized for each user and can accommodate any constraints encountered by the mobile device while browsing the company’s website.
Jaeyoung Jun is the founder and CEO of OMNIOUS.AI.
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