Pretty much everyone has a smartphone nowadays. This was not the case, a decade ago. Mobile Phones now have transcended from a calling device to a mini-computer of sorts. In fact, it is even an integral part of many jobs. Such has been the influence of this little gadget, that we cannot imagine a single day without it.
All sorts of industries and professions have benefited from smartphone advancement. This is particularly true in the case of business and e-commerce websites. Now, you can always order on the go and pay using your mobile phones. eCommerce companies like Amazon and Alibaba owe a significant part of their financial growth due to the rise of smartphones. Also, there are different kinds of services like Uber, Foodpanda, etc. that rely significantly on this medium.
It is estimated that currently around 119 Billion worth of goods are purchased online. If your wondering what has led to this extraordinary rise, then you’ve come to the perfect place. Without any further delay, let’s see how mobiles are shaping the business world and what the future beckons.
Benefits of Using Mobile Applications for E-commerce
With the help of mobile phones and tablets, users can get reviews about practically any product on with help of application. Thus, it helps to make better choices and get top-quality products. Also, suck app can keep you away from bad-sellers as well.
Another great feature of online e-commerce application is that you can constantly monitor the prices of commodities. Thus, it helps to prevent frequent visits to the shop and thereby save you a lot of time. Also, you are constantly updated via notifications regarding the arrival of new products as well.
Moreover, you can use different modes for making the payment. If you are short on cash, but require the product, then you can always avail the EMI option. EMIs require you to pay only a small monthly installment at a nominal interest rate. We have not even talked about the shopping festivals where everything goes at the discounted price. Users can participate in lucky draws right from their devices using mobile application. Besides, there is another very cool feature called the flash sale, where a product is listed at a much lower price than the original cost. But such offers are available for only a very limited time.
This is why you should be using the mobile versions of apps like Amazon and Alibaba. Else, you are missing out on a lot of stuff.
Impact of Mobile Application in E-commerce
Till now we focused on the consumer point of view. However, there are some significant benefits for the sellers and websites as well. First and foremost, mobile application helps in strengthening the identity of the brand and also boost revenues if managed optimally through minimal layout of mobile application.
Online marketing techniques like SEO and digital marketing really helps in boosting businesses online visibility. Different strategies in marketing techniques can be used to attract different kinds of customers to search and buy your products online.
However it cannot compare to strategy of having mobile app, not desktop or responsive version of your eCommerce site, i meant a real solid mobile application that users can download in Google Play Store, which visited by millions of users or consumers around the world, that’s one of many reasons having an app for your e-commerce website is beneficial.
Mobile app with social login also took out the troublesome of users to register or login with username and password, a simple social connect using their own Facebook or Google account credential is sufficient. Studies shown visitors tend to leave an eCommerce website the minute they saw a traditional register and login form, its only took seconds for visitor’s brain to decide leave or stay, this lead to potentially losing reliable customers for your business.
Mobile Apps Development for eCommerce
Creating a mobile app is not a difficult task for the multi-million firms, and dedicated reliable apps are undoubtedly an asset. First and foremost, many apps do not require the internet and secondly, you get all the information in a particular place.
Read this: Trends in Mobile Application Development
Compared to websites, the loading time is significantly lower, and the data usage is less. Apps are able to utilize the features of mobile and thereby provide information like location, contact details, shop timing, etc. Also, mobile apps are compatible on a wide range of platforms, thus improving the overall reach. The best usage of mobile application comprises automated notification delivery for your placed order and this is being exploded within a huge user base who didn’t know about such online eCommerce platforms earlier.
Future of eCommerce or online shopping
1. Rise of Social Shopping
This is one of the side effects of the boom in the mobile phone industry. Now, Social Media Platforms like Instagram, Youtube, Facebook, etc can be used as a medium for sale. Instagram has released a feature where you can tag products in your posts. When people view the product tag, they receive all the relevant information like description, image, product cost, etc.
2. Cross-Border Shopping
People is becoming more receptive towards the idea of buying from another country. According to statistics, around 57% of online customers have done an international purchase. With the growth of the e-commerce industry, expect this number to get bigger.
3. New Payment Channels
New Payment modes like Google Pay, Paypal, etc are incredibly popular and have made the transaction of money, incredibly easy. It is estimated that cash and cards won’t last beyond 2030. Also, another huge news is that cryptocurrency will be making its way into the e-commerce sector. Cryptocurrency is much more secure as it is decentralized and therefore used only for large scale transactions. However, it is believed that cryptocurrency will be used for online transactions in the coming time.
4. Retail Sales to hit 5 trillion marks by 2021
The worldwide retail sales from e-commerce stands currently at 1.3 Trillion. However, that figure is expected to become more than three times and reach around 5 Trillion by 2021. It is also estimated to make up 18% of the total global retail sales as well.
5. Omni-Channel Shopping
Omni-channel shopping means the integration of different channels like online sites, offline stores into one coherent medium to give the customers a better experience. Advantages of adopting such a strategy include improved efficiency, better data collection, etc.
Market Leaders in E-commerce Sector
- Amazon: Established in 1999, Amazon now has the largest revenue in the planet.
- Alibaba Group: The brainchild if Chinese business Tycoon Jack Ma, Alibaba operates in more than 200 countries worldwide.
- Ebay: Ebay launched ahead of Amazon and other firms and is still going strong.
- Rakuten: A Japanese e-commerce firm, they operate the largest online bank in the country. Moreover, they run around 70 different businesses.
We hope you have benefited from this read about e-commerce and how the business industry profited from the rapid growth of smartphones. Let us know your point of views in the comment section.
Photos courtesy of gettyimages.com