After e-commerce, the next step in the business is m-commerce. Smart phones, as was predicted, have transformed the market. Today, people are using web applications on their mobile phones or tablets. With almost 125 million people in the US using smart phones and another 50 million using tablets, the rise of m commerce has become unprecedented.
When e-commerce entered the retail industry was shook, with people using it even while inside the shopping centres to heck the product reviews, discounts and prices; and now with m-commerce applications it has again seen a surge, with a contribution of 10% in the overall revenue of the industry.
SO is your company ready for the m-commerce shift that will take over the market. Mobile phones offer the customers with the comfort of ordering anything anywhere. This feature has cemented its heightened position in the market. It is estimated that in this holiday season, app. 68% of the e commerce business will be driven through mobile phones, which has grown from 40% that was in 2015. SO, with more than half of the traffic coming from the mobile phones, it is predicted that almost half of the lead conversions for the business will be brought through mobile phones. So, business strategies must definitely include this feature, if it wants to be one of those reaping fruitful results of this innovation.
Web can no longer stand as firmly in front of a mobile in-app. If you have an app functioning for your e-commerce business, the reaches of the business can outsize any expectations that you might have prior to implementing it. M-commerce is estimated to bring in an aggregated funding of 3.56 trillion dollars business. So, needless to say, the advantages are clear; the customers are responding well to this development and it is high time for you to jump on bandwagon and make the most of it.
Why has m-commerce worked?
Apart from the fact that the possession of smart phones in a few years has rocketed, customer engagement too is one of the key factors that have resulted in the success of m-commerce apps. These apps, if built properly, are designed with simplified UI and UX that help in improving the customer experience. The best m-commerce apps have purchase options with regulated chatbots and augmented reality, smoother cart operations with streamlined shopping experience, with a majority of businesses investing on the mobile applications that can be run on multiple channels as 85% of customers end up using omni channels for online shopping.
The ROI on m commerce has attracted several businessmen to transform their retail businesses through it, and are preparing for 2020 for their businesses to maximize the revenue, when it is predicted that this trend will stretch its wings to the fullest within this timeframe. The old brick and mortar foundations are crumbling and there is no reason left for any business to be stuck within them, if they wish the slightest to survive.
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