The absence of a mobile-optimized site is like not having sugar in your tea. While the eCommerce market is on the rise by the time, Mobile Commerce has been the fastest growing industry in the last few decades. By the end of 2021, Mobile commerce sales are forecasted to reach $3.56 trillion. Another study found that 79 per cent of smartphone owners had made an online purchase with their mobile devices.
Considering the fact that people these days use more smartphones than computers, it is no longer a secret that M-Commerce will eventually take over most eCommerce. By 2026, the global M-Commerce market is expected to reach USD 3,901 million. That’s a big indicator that your website needs to be mobile-friendly since people will do everything through their mobile devices.
The majority of the world’s population with access to the internet use a smartphone. What does this mean for your online business? There’s no better time to get your site mobile-ready than now, which means the site also needs to be optimized for different mobile devices.
The likelihood of a consumer purchasing goods on a tablet is three times higher than the likelihood of a consumer purchasing goods via a mobile phone. If you weren’t surprised by the numbers about mobile phones, you might be surprised by the numbers about tablets. Over half of tablet users prefer to shop on their tablets to on PCs, and they use their tablets to make at least one online purchase per week.
What is the difference between mobile and eCommerce?
It will be a mixed answer and it will be yes and no. Mobile commerce is an essential component of eCommerce. At some level, they are the same, but not exactly the same. Their differences are also significant.
Consequently, sometimes it is okay to use mCommerce for eCommerce. In light of how M-Commerce can affect businesses, it’s time to explore what M-Commerce is and how it can be a crucial factor for businesses’ bottom lines.
What is Mobile Commerce?
Mobile commerce, also known as M-Commerce, refers to any purchase made via a mobile device. In essence, it is the professional version of eCommerce, which enables people to sell and buy products via a mobile device or tablet, almost everywhere.
However, mobile commerce is the new trend or change in eCommerce. Additionally, it has sparked new markets and services such as:
- Banking transfer through a mobile device
- A touchless payment system
- A location-based service
- Marketing through mobile devices
- Card-based rewards
Types of M-Commerce
Mobile commerce includes a wide range of transactions, which can all be classified into three groups:
Shopping Through Mobile
Mobile commerce is mostly the same as ecommerce, but accessible through a mobile device. The internet, app stores, and social networks all offer mobile shopping through mobile-optimized versions of their websites.
Banking via mobile device
Although some mobile banking transactions may be limited or restricted, it’s not much different from online banking. Many banks have begun experimenting with chatbots and messaging apps as part of mobile banking, though most use dedicated apps.
Transactions through Mobile Device
Since there are so many different options for mobile payments, we are covering them in this article in more detail.
Typically, as a business owner and user of eCommerce, your exposure and interest in mobile commerce would be more about shopping and payments, so this article will focus mostly on those topics.
What are the benefits of M-Commerce?
While starting a business brings many obligations, you shouldn’t consider these as major obstacles. In this article, we will discuss mCommerce and the benefits that can help you decide whether or not to choose a mobile-friendly website.
Here are a few of the best.
1. Seamless Experience for Customers
You have a wide choice when it comes to choosing products and goods in ecommerce, making it one of the most popular markets. For this reason, ecommerce is the most convenient for online shoppers.
Since consumers have the opportunity to choose products from a wide range, pay low prices, and buy online, eCommerce is a better fit than traditional retail. Mobile commerce offers a lot of benefits for users and allows them to make better choices.
Since most customers have smartphones or tablets, they can shop from anywhere and at any time. Augmented reality, chatbots, and messenger are just some of the advantages of mobile commerce.
2. Rise in Potential Growth
The market for mCommerce and sales is large, as we have already mentioned. Thus, M-Commerce will be a good choice since it will not cause problems. Due to the mCommerce boom, there is no doubt that we will see the complete mobile world very soon.
The bottom line is that mobile-friendly websites will yield a higher ROI and no wonder conversions for retailers.
3. Multichannel experience
There is no doubt that there are stores that sell offline and online, and it is no surprise that they sell on multichannel. This makes an Omnichannel experience for customers, and we have also been talking about the importance of listing products where customers are already searching.
Being in a place where your customers are so that they can purchase what they need, is what the multichannel experience is all about. So, M-Commerce makes it easier for customers, which is why it is the best fit.
Ultimately, m-commerce is the best option for providing a multichannel experience to your customers and enhancing your client base.
4. Range of choices in transactions
The choice of payment options offered by mCommerce is another advantage. With mobile users making up the majority, we have the possibility to offer customers a variety of different payment options.
Mobile commerce doesn’t mean cash payments or credit card payments are gone, but the fact remains that it is growing like never before. This is why it is possible to purchase from multiple stores with a single click, which enhances the customer experience and boosts sales.
When you shop for the first time at an online store, you don’t have to waste time entering your credit card information. In order to make a purchase, you only need to scan QR code or whatever the store’s payment method is.
Paying with Apple Pay, Amazon Pay, and Visa Checkout are among the many options available on the market.
Also Read: Top 10 Payment Gateways In USA
An e-commerce site that is mobile-friendly is essential. A site that is not mobile-friendly can cause sales to decrease and abandoning carts to occur. Creating a website that is simple, fast, light, and adaptable to multiple devices and screen sizes is essential. It’s important to test your site on your own device so you know how it holds up.
Do you need help building a mobile-friendly eCommerce website? Let M-Connect Media build the site for you. We have an experienced team of Magento developers and eCommerce experts that knows everything and can assist you in building websites that adhere to customer devices and screen sizes. Get in touch with us right away!