Technology Shift: Moving from eCommerce to mCommerce

16 Apr 2016

With more than five years of leading market researchers predicting mobile’s supremacy in retail landscape, the paradigm shift of e-commerce to mobile commerce (also known as m-commerce) is finally a reality! Smartphones and tablets have become an extension of individuals’ daily habit.

How many times you let yourself step-out of home without a phone? In fact, it won’t be hype if I say that carrying Smartphone is as important as wearing shoes when walking out. Mobile devices have transformed the way we perform our day-to-day activities, and how we communicate to consumers and companies alike.

The global m-commerce economy has been anticipated to reach 100 billion USD by year 2017, where Asia seems to tap 40% of global market share. In addition to mobile commerce apps, there is a significant rise in the mobile payments since 2015.

No Geographic Boundary

The massive advancement and innovation in mobile technology provide consumers with seamless access to retailers, brands or businesses from all across the world. According to Nielsen’s International market survey, about 57% of online purchases made in the last six months timeframe are done from offshore retailers. It is easy to see how today’s smart consumers have another choice than visiting local brick-mortar stores or shopping from their country-specific online stores.

Tremendous business opportunities

Mobile retail apps draw in a wide pool of opportunities to serve your target audience more effectively and boost customer acquisition worldwide. The millennial generation is more comfortable with digital technology, mainly Smartphones and tablets. The fast increasing adaption of mobile devices across the world is further increasing the number of mobile shoppers.

Mobile commerce is set to surpass ecommerce ROI

While most of us know that mobile commerce is increasing at a real fast pace, we have got some interesting statistics revealed by a recent study conducted, which shows how m-commerce industry ROI will soon outpace e-commerce ROI by the end of this year.

The study surveyed the mobile shopping behavior patterns of 17,600 consumers across 22 countries and claims that by end of 2016 m-commerce industry will witness growth rate of 42% compared to 13% of ecommerce sector. One of the leading company, PayPal has witnessed 4% surge in their annual growth rate.

It’s either Mobile-first or Mobile-only for Retail Sector

We have reached the tip of mobile-first age. Global m-commerce sector is anticipated for dramatic surge. In fact, the industry is growing three times the pace of ecommerce. In the US alone, the mobile based ecommerce stats for Paypal is forecasted to reach the milestone of 96.3 million USD by 2016, compared to 54.6 million USD recorded in 2014.

In addition to USA, countries like India, China, Turkey and UAE are the biggest players of the global m-commerce landscape. Understanding how Smartphones are driving consumers’ behavior these days, the leading ecommerce businesses like Amazon, eBay, ASOS, Groupon, JD.com and Walmart have already landed into mobile-first strategy by launching their brilliant native apps for target audience.

One of India’s leading fashion retailers, Myntra also has opted for mobile-first business strategy; they have a wider response coming through their mobile app. The move totally makes sense as today there are more consumers who prefer shopping using a mobile phone instead of using desktops and laptops to access eCommerce websites.

Where m-commerce future belongs?

The deeper penetration of Smartphones and tablets in developing and developed countries alike, surge in secure mobile payment platforms, and increased awareness of the internet of things will contribute to further boost the demand of m-commerce apps. Intuitive UI, personalized shopping experience, great loyalty program, one touch payment, and 24/7 fastest and easiest access are vital to any retail mobile app to lure customers and build customer acquisition.

Want to experience how having a mobile app for your retail business can open you to wider audience-base and give you more channels to increase customer conversion? Contact the mobile app development specialist today and get started with your custom application as per requirement.

 

Pratik Gothaliya

Pratik Gothaliya is the Founder and CTO of Quest Infosense, A web & Mobile app development company. Pratik has accomplished over 9 years of experience in the software industry. Being an integral part of the company he assures uncluttered functionality for service or products development to clients. he promptly stands with unparalleled accomplishment for his clients and people.

Releted Blog

Technology Shift: Moving from eCommerce to mCommerce

Flutter Portable UI Framework supports Web, Desktop & Embedded Devices

18 Dec 2019

In the modern era of technologies, Flutter Portable UI was developed for web development was released by Google earlier this year. Flutter has expanded its centre from mobile to merge with a broader set of devices. The version 1.5 of Flutter was laun

Read More
Technology Shift: Moving from eCommerce to mCommerce

Top Mobile App Technology Trends in 2020

18 Nov 2019

Can you guess the number of applications on google play store? 2.8 million!!! Now imagine total downloads of the apps annually. Do you know how many apps downloaded per annum? According to rough numbers, by 2021, the total number of downloaded applic

Read More
Technology Shift: Moving from eCommerce to mCommerce

Why Choose PHP Framework for your E-Commerce Website & Mobile App Development

2 Oct 2019

Presently, one out of three graduates has been going forward to becoming successful entrepreneurs. There can be a mad race seen amongst people for the various online business like E-commerce. These businesses have gained popularity for fulfilling the

Read More