What is mobile commerce?



Mobile e-commerce, sometimes referred to as m-commerce or mobile commerce, is the act of concluding an online transaction using a mobile device. M-commerce is a subset of e-commerce and ought to be your top goal to avoid lagging behind your rivals.


Mobile commerce includes any online transaction carried out on a smartphone or tablet. Making a purchase on a mobile device is the most well-known example of mobile commerce, although the word also covers other types of transactions.


Here are seven examples of mobile commerce that exist today:

  • Making a purchase

  • Social commerce

  • Mobile banking

  • Mobile payments/Transactions

  • Mobile ticketing

  • In-app purchasing

  • Marketplace apps



Key mobile commerce statistics


Here are some key statistics to help you understand just how important m-commerce is in 2022 and will continue to be in the future.

  • 77% of US adults own a smartphone and 53% own a tablet, showcasing the number of potential m-commerce customers.

  • Nearly one-third of US internet users used their mobile device to make a purchase each week in 2021.

  • Mobile devices made up 58.99% of web traffic in Q2 of 2022.

  • 51% of Americans downloaded at least one shopping app to their smartphone at the peak of the COVID-19 pandemic.

  • 21% of device users access retail shopping apps multiple times a day, and 35% access them multiple times a week.

  • 49% of Americans have used a shopping app to compare prices.



Mobile commerce pros

There are a few benefits associated with mobile commerce and offering your customers a seamless experience across their devices.


Convenience


The average American checks their phone 344 times a day, or roughly every four minutes. As a result, it's really easy to be able to make purchases whenever the mood strikes by simply pulling up an app or website on your phone.


Instant gratification


If you're curious about why people value quick gratification so much, look no farther than e-commerce behemoth Amazon. The frictionless shopping experience it has produced has given rise to a phenomenon known as the "Amazon effect." With just a click, free two-day shipping is now an option.


More payment options


Along with credit and debit cards, customers can now also pay using Apple Pay, Samsung Pay, Google Pay, Amazon Pay, PayPal Express, and Visa Checkout. Shop Pay also makes it simple to provide your customers a variety of payment options.

These solutions will make it easier for your customers to make a purchase on their mobile device; all you need to do is make sure your payment portal supports them.



Mobile commerce cons

Mobile commerce isn’t without its challenges. It’s a newer concept, so it can be tricky to ensure a seamless experience—for now.


Continuous optimization


Mobile commerce is no different from other technologies in that they are always changing to improve both consumer and company experiences. To keep your mobile website or app user-friendly, you must constantly upgrade it.


An excellent approach to guarantee that your website is kept up to date with the most recent optimisations is to invest in an e-commerce CMS like Shopify's.


Long load time


Your page load time majorly impacts whether people can access your website from their phones. Tool Tester analysis on four million websites over the course of a year showed that the average desktop website loads in around 2.5 seconds. However, this number increases by 70.9% to 8.6 seconds on a mobile device. If your customers can’t load your site quickly, they’re likely to abandon it before making a purchase.


Competition


It's simpler than ever to compare prices when purchasing on a mobile device thanks to the emergence of mobile price comparison applications. You can get over this by keeping an eye on your rivals.


You may boost the likelihood that customers will choose to purchase at your business regardless of price discrepancies by making sure your firm provides the finest customer experience and product selections. To ensure you stay competitive and relevant in the market, keep an eye on the pricing, shipping alternatives, and discounts offered by your rivals.


Would like to learn more about M-commerce & how you can take your business to the next level with it? Contact us, it would be great to work together!





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