Let’s start from an undeniable fact: today, most of us couldn’t live without our mobile devices very close at every moment of the day. Do we need an answer to our questions, are we searching for specific information, are we looking for an item to buy? No matter where we are or the nature of our search, our first instinct is to ‘ask’ our mobile devices and use them to take our actions in the quickest and easiest possible way. Till a few years ago, we used to resort to our smartphones especially to search for information. Now we feel more and more confident to take a step forward: buying what we need from our mobile devices is becoming a common habit. Mobile commerce, that is the use of mobile devices in order to finalize our purchases, is a current reality with a growing trend for the future. For this reason, we decided to focus this blog post on the analysis of what to expect from the future of mobile commerce in terms of growth trends and the development of mobile commerce platforms, solutions and technology.
Mobile commerce trends: what’s the expected future pattern for mobile commerce?
A recent survey from IMRG, the IMRG e-Retail Survey (February 2016), revealed the expectations and key areas of investment for 2016 of 31 senior ecommerce professionals. The findings showed that the majority of surveyed professionals are keen to invest more in mobile commerce during 2016. Let’s have a look at some of IMRG data in detail:
- The majority of surveyed retailers expect smartphones and tablets to account for an equal share of online sales by the end of 2016, with each platform accounting for 26% of total e-retail. it’s important to highlight that a previous IMRG survey, conducted in 2015, had shown higher retailers’ expectations for tablet devices performance than for smartphones. It’s evident how the growth of mobile commerce over the last year made retailers more confident in the further development of mobile commerce.
- 70% of surveyed retailers have (or are planning to launch) a responsive website, while just 17% have a dedicated tablet site.
- The principal area of priority for respondents in 2016 is mobile (smartphone and tablet) optimisation, with 86% of respondents stating they will be increasing investment in this area.
- On average, the increase in investment in mobile optimisation will be 62% this year and the increase in investment spent on upgrading systems is 51%.
These results show how retailers look at the future of mobile commerce: they believe mobile commerce will keep growing in 2016, especially on smartphones devices.
Source: IMRG e-Retail survey – February 2016
This chart shows how the surveyed e-commerce professionals replied to question 2 : “What percentage (approx) of your UK online sales do you expect to come via smartphones by the end of 2016?”
Mobile commerce growth: some data
A lot of studies and reports on mobile commerce performance show there is no doubt retail and ecommerce sectors would benefit from investing on mobile commerce channel. Among these studies, Criteo report about the State of Mobile Commerce highlights some interesting data:
- in 2015, the number of mobile commerce transactions was almost the same as the number of desktop commerce transactions for retailers who provided a strong mobile shopping experience (see picture below)
- smartphone’s share of mobile commerce transactions accounts now for 60% of all mobile transactions (smartphones + tablets) in the U.S.
- mobile apps show higher conversion rates for mobile commerce than both desktop and mobile websites
- globally, mobile commerce accounts for 35% of retail and ecommerce transactions
Source: Criteo Report
These data confirm that the increase in mobile usage to finalise our purchases isn’t just a subjectively perceived trend, it’s a matter of fact!So, what can retail and ecommerce brands do in order to provide the best mobile shopping experience possible and therefore promote the growth of their mobile commerce?
So, what can retail and ecommerce brands do in order to provide the best mobile shopping experience possible and therefore promote the growth of their mobile commerce?
Mobile commerce platforms: best features
A great mobile shopping experience is provided by a great mobile commerce platform, that is a digital environment specifically designed and built for mobile devices. This means that retail and ecommerce brands should invest in building mobile commerce platforms which enable customers to walk through their purchase journey as smoothly as possible. The best option to achieve this goal is to build a mobile app for their mobile commerce businesses.
As highlithed by this study (https://info.dynatrace.com/rs/compuware/images/Mobile_App_Survey_Report.pdf), 85 % of mobile users prefer to use mobile apps over mobile websites, but 79% of them will not tolerate a problematic mobile app, and will abandon it after only one or two failed attempts.
These findings confirm the importance for retail and e-commerce businesses to build a mobile app which delivers a great user experience and reduces the risks of users frustration and dropout in order to boost their mobile commerce.
But what are the features of a successful mobile commerce platform? Here are some examples:
- First of all, it’s important to keep the loading times and the risk of crashes low.
- Moreover, the best mobile commerce apps, those who register the highest conversion rates, are the apps which focus on keeping the navigation and the checkout process simple and to collect data from the users in order to target them in a more meaningful way.
- Action buttons like ‘add to cart’ or ‘proceed to checkout’ should be always visible and easily accessible.
- The signup process should be straightforward and collect just a few relevant information.
Mobile commerce technology: effective solutions