The rapid increase in the use of smartphones has resulted in the growth of mobile commerce (mCommerce) transactions.
#1. Single-click payment
Customers face problems in the checkout process in mCommerce transactions, leading to a 66% cart abandonment rate. The mobile checkout process is expected to improve in 2018.
Single click payment in mobile leads to impulsive buying among customers. This can be advantageous to you, as buyers have less chances of leaving the transaction in between while transacting from their mobile phones. Customers also want to put in minimum efforts when buying online.
Amazon facilitates one-click buying process, of which it held a `patent. That was one of the key reasons for Amazon’s fast growth. With the expiry of the patent last year, competitors are now expected to offer single-click payment to buyers for their convenience. Google and Apple, for example, have already incorporated single-click payment in their transactions.
It will be crucial for you to keep up with one-click payment trend this year to get a competitive edge.
53% of online shoppers believe that retailers who personalize the shopping experience provide a valuable service. In 2018, mCommerce industry is expected to find new ways to take personalized experience to a new level for the consumers.
A large number of retailers are using analytical tools to track the behavior of online shoppers. They also track consumers’ past searches and buying history to give them tailored suggestions. Technologies like push notifications and geolocation are helping m-commerce application companies to grab the attention of buyers in real-time and target them location wise. They are also sending personalized emails to customers, and offering customized deals on various products to attract them.
Data gathered from social media platforms is furthermore helping retailers in offering tailored solutions to consumers. Beacons enable them to offer coupons and give product recommendations, ensuring personalization and increased customer loyalty. The impact of personalization is visible in case of Amazon, whose 35% of purchases come from its recommendation engine.
Videos have been prevalent in m-commerce industry since long. They are an effective way for retailers to deliver their marketing message to a wider audience. E-commerce businesses use videos for product details, clients’ service, ads and customer reviews. 90% of consumers watch videos on their mobile phones, which shows that videos can result in a higher engagement rate.
In 2018 videos will continue to be one of the preferred ways to attract target audience for the m-commerce industry. Brands are expected to include video feature in their mobile application to give a look of their products and services to ensure they get better visibility. Statistics show that 74% of users who watched an explainer video to learn more about a product or service subsequently bought it.
It will be important for retailers this year to enhance the experience of the buyers by using various automated tools. These include tools for email campaigns, loyalty program generators, discount codes, platforms that gather product reviews, cart re-engagement engines and more. They can certainly help online store owners in enhancing revenues and ensure clients’ satisfaction. Besides that, by using automated messaging tools for serving customers and simplifying checkout process, you can attract more mobile users.
Buyers expect to get prompt answers to their queries while browsing on their smartphones. Chatbots are useful in providing efficient customer services, leading to customer delight. Companies are using chatbots to offer personalized experience to consumers and respond to their queries in real-time.
With chatbots, buyers don’t have to go through the FAQs or talk to the customer service representatives. They are a good option for consumers shopping from their mobile devices. 48% of consumers would rather prefer to connect with a company through live chat than any other means of contact.
It will be beneficial for you to install live chat in your mobile application as chatbots will be on trend in 2018. You can be available for your customers 24/7 through live chat. You can even engage with your audience in a more natural way, leading to an improvement in sales.
#6. Omni-channel presence
56% of retailers indicate their top digital priority is to create a consistent brand experience across channels. Though buyers prefer shopping from m-commerce applications, it is important for retailers to have an omni-channel presence. Consumers like the wider selection of products online, but still prefer to get an in-store experience by touching, seeing and trying them. There are also some people who still love to buy from brick and mortar stores.
Consumers may come across a display ad of a product, go to a mall to see it, and purchase it online, for instance. This makes it vital for retailers to deliver a seamless shopping experience across various touch points. By blending buying experiences offline and online in 2018, you will be able to provide better shopping experiences to your customers.
The latest developments in technology and consumers’ paradigm shift towards mobile transactions indicate that a major change is waiting to unfold in 2018 and beyond.
You can offer a memorable shopping experience to consumers through your mobile application. Failing to offer a good smartphone experience will turn your customers towards your competitors, resulting in decreased sales and revenues. It is, therefore, crucial for you to start working towards providing a mobile-optimized experience to shoppers that matches with their behavior and buying patterns.
By following the above trends, you will be able to deliver a personalized buying experience to consumers and convert more mobile shoppers into customers. If you don’t consider the latest developments in m-commerce, you will not be able to fulfill the growing needs and demands of buyers.