Modern customers spend about 5 hours a day on their smartphones. Mobile devices have become integral to our lives as places where we communicate, discover, learn, shop, and stay connected. In many cases, mobile devices serve as our radios, directions, news source, and even our wallets.
It’s no surprise, then, that mobile commerce has become a priority for businesses focused on their future. Here are the important places to focus on in m-commerce.
What is a mobile commerce platform?
Search Mobile Computing defines m-commerce and mobile commerce platforms by saying, “M-commerce (mobile commerce) is the buying and selling of goods and services through wireless handheld devices such as smartphones and tablets. As a form of e-commerce, m-commerce enables users to access online shopping platforms without needing to use a desktop computer. Examples of m-commerce include in-app purchasing, mobile banking, virtual marketplace apps like the Amazon mobile app or a digital wallet such as Apple Pay, Android Pay, and Samsung Pay… With most m-commerce enabled platforms, the mobile device is connected to a wireless network that can be used to conduct online product purchases.”
The technology that powers m-commerce has the potential to be extremely impactful for the future of businesses, particularly in terms of customer relationships and revenue.
Why is m-commerce important?
The Next Web notes that m-commerce is already serving businesses and making the lives of customers easier. “According to data by leading e-commerce platform BigCommerce, mobile orders from their platform’s 50,000 stores grew 30% year-over-year from 2015 to 2016. Five years ago, mobile sales were stagnant at 10%, whereas today, mobile purchases go account for nearly one-third of BigCommerce’s total…Business Insider, moreover, estimates that mobile’s share of e-commerce revenues will continue to make gains in the years ahead, reaching 45% of the total US e-commerce market within the next three years.” That means by 2020, the world of mobile-based shopping will account for almost half of all shopping. Businesses who want to remain successful need to pay attention to the developments of m-commerce platforms and applications.
Having the right technology will help you stay competitive and support your efforts to provide a better shopping experience for customers.
How can m-commerce platforms benefit your business?
Here are some of the benefits of popular m-commerce platforms.
Shopify has been around since 2004 and has kept an eye on both social commerce and mobile shopping trends. One of their powerful features allows customers to never have to leave their social media platform in order to buy from you. For a small fee, you can integrate Shopify directly with your Facebook account and turn Facebook into a direct e-commerce store. Small businesses and startups could benefit from enhancing their mobile commerce efforts with this m-commerce platform.
BigCommerce is the power behind over 55,000 online stores and is at the forefront of business m-commerce platform business trends. With customers like Martha Stewart and Toyota as well as SMEs, BigCommerce helps businesses of all sizes create online storefronts. Even small business owners who want to stay competitive with m-commerce solutions but don’t have coding skills can use BigCommerce to create m-commerce options.
This m-commerce platform can help shape the future of startups and SMBs, YoKart is a turnkey solution and has the ability to create multi-vendor stores such as Amazon, eBay, and Etsy – this is crucial for businesses who want to create an omnichannel experience for customers and remain competitive in the world of m-commerce. The latest software update for this m-commerce platform is multilingual and multi-currency to allow a business to grow globally.
The other impact of m-commerce platforms
Mobile commerce platforms are changing other elements of the customer business relationship. Since m-commerce is more than just shopping, it’s important to pay attention to the other ways that it can affect the customer experience and business processes.
#Mobile payment solutions
In addition to providing solutions for businesses who want to sell to their mobile customers, m-commerce platforms are responsible for solutions like Apple Pay, Google Pay, and Samsung Wallet. These features give users the ability to pay in person using only their phone, adding another convenience to the modern shopping experience.
#Customer service and chat solutions
M-commerce platforms that empower communication between brands and customers are driving the future of mobile commerce business. More customers now, over 54% prefer to use apps to get in touch with brands versus email, phone calls or traditional online chat. This has led to a rise in chatbot technology that enables businesses to automate some of their customer engagement without disrupting the m-commerce process.
M-commerce platforms are facilitating the technology that has created new customer experiences and conveniences. Customers have more options to shop from, pay with, and get answers from than ever before. This is good news for brands who can devote the time and resources to stay on top of changing m-commerce trends and customer expectations. Using and embracing the power of m-commerce platforms as the path towards a successful business future is important to brands across every industry.