Mobile commerce is the future of retail – it’s no longer just an option; it’s the new standard. It’s having a shop that’s open 24 hours a day, right at the convenience of your fingertips.
Mobile commerce, also known as m-commerce, is the process of buying or selling products online using smartphones or tablets.
This trend is expected to reach over £100 billion in retail sales in the UK this year alone, indicating that mobile commerce is not a passing trend, but a transformative shift in the way we shop. Its significance is emphasised by the convenience it offers, allowing consumers to shop at any place, at any time.
To succeed in the mobile commerce space, the first step is, of course, getting a mobile app for your business. Without one, you risk losing a considerable chunk of your customers who prefer the convenience of mobile shopping.
In 2023, the UK and USA saw online shopping apps like Temu leading downloads, while TikTok expanded its commerce functionality, ranking #1 worldwide for consumer spend on mobile apps (data.ai). It’s never been easier or more accessible for consumers to transact so quickly.
As we move further towards a cashless society, mobile payment tools like Apple Pay are becoming the norm – secure, swift, and incredibly convenient on the go.
Social commerce enables users to browse and purchase products directly through social media platforms, without the need to navigate external websites.
The power of social commerce shouldn’t be underestimated, as it provides an engaging way of interacting with customers, increasing brand awareness, and even reaching potential prospects who may not have discovered your brand through other channels.
Social commerce is particularly powerful around the festive season, with 60% of Gen Z and 56% of millennials using social media for their Christmas shopping.
In 2024, organisations should focus on optimising their social profiles to offer seamless shopping experiences, including shoppable posts and frictionless checkout processes.
AR and VR technologies are set to revolutionise mobile commerce, with $198 billion in estimated revenue by 2025. Take the IKEA app for example – want a new sofa, but not sure if it fits the style of your living room? The app lets you visualise how products will look in your own space using your phone’s camera, eliminating the need for any heavy lifting or flat pack furniture building.
These technologies will bridge the gap between the convenience of online shopping and the tangibility of the in-store experience. In 2024, retailers must adopt these technologies in order to remain competitive.
One-click ordering is the epitome of convenience in the mobile commerce space. It’s all about making the buying journey as smooth as possible, virtually eliminating the entire traditional checkout process.
In 2024, we should expect more e-commerce businesses to implement this technology in mobile apps. This feature isn’t just a luxury, but a necessity for organisations aiming to increase conversions.
Speak, and you shall receive. Voice shopping has become increasingly popular as voice assistants like Alexa or Siri become our personal shopping aides. With voice shopping expected to reach $164 billion worldwide by 2025, it’s clear that speaking to our devices is becoming as common as typing on them.
Retailers should ensure to use conversational language in their content to ensure that products are easily discoverable and visible for search engines.
By leveraging personalisation in mobile commerce, businesses can connect with their customers on a deeper level, creating highly customised experiences that resonate with individual preferences and behaviours.
From tailored product recommendations to delivering personalised offers and content, utilising personalisation in 2024 is essential to stay ahead of the curve and ensure continued engagement from your customers.
2024 is shaping up to be the year our mobile devices become our go-to for shopping. Whether you want to upgrade your wardrobe, give your home a makeover, or try out the latest tech – your mobile is your gateway to purchasing power.
From seamless payment integration to immersive AR/VR experiences, the possibilities are endless for those willing to innovate and adapt. By harnessing these trends, businesses can unlock new avenues for growth and customer satisfaction.
Let’s have a chat at [email protected] or via our website to see how Cantarus can help you unlock the full potential of your organisation with the power of mobile.
