mCommerce reached 2.9 trillion dollars in 2021. On the other hand, it is expected that 292 million people will have a mobile device by 2024, of which 187.5 million will make purchases through it.
We are facing the Mobile First era: we are experiencing a process of adapting to mobile phones that is eight times faster than web adoption in the 1990s. What challenges does this e-commerce revolution present for organizations?
The important thing is to anticipate problems.” Likewise, other experts point out that the important thing is to consider the user experience.
What are the essential ingredients to design an unforgettable mCommerce experience? We see them below.
Five (Must-Have) Features of mCommerce
1. Responsive website
There are many success stories where brands get better mobile experiences every time. But the data shows a reality: mCommerce needs to improve its checkout process compared to the desktop. Conversion is lower on this type of device, and the bounce rate is more than double that of the desktop. You have to pay attention to the design of the forms, the authentication process, and all the steps that take us through the purchase funnel. Speed is also important so as not to lengthen waiting and response times.
2.B2C and B2B
According to a study by Google and BCG, not only B2C benefits from this mCommerce revolution, since 40% of B2B revenue already comes from mobile traffic.
Eight out of 10 purchases made via Mobile are made spontaneously. Here the loading speed plays a key role. According to a Google study, for every second we reduce the loading time of our mobile website, the conversion rate increases by 27%. It is estimated that there is a 7% reduction in revenue for every second that load increases. It is also for SEO ranking and being seen on the first search page. Therefore a good mCommerce experience must be fast.
4. Mobile applications
This characteristic is fundamental, especially with the youngest. It is estimated that between 18 and 34 years old, 61% use retail apps to buy their products. According to Adobe, 29% of users between 18 and 22 names an app as one of their favorite channels to make a purchase. Developing an app is interesting to encourage daily visits and can increase sales since the personalization of the experience is greater.
5. Social networks
The rise of mCommerce is the natural evolution of electronic commerce and social networks. 7 out of 10 consumers are inspired by social networks like Instagram when looking for products. And 74% of millennials believe that social networks influence their purchasing decisions. Retailers are giving more and more importance to these platforms with greater investments in social media campaigns.
mCommerce sales increase
How many times a day do we look at our mobiles? 300 times a day on average if you are a millennial, and if we are talking about Generation Z, the figure is even higher. How do we make our inquiries? 60% of them in the EMEA region (Europe, the Middle East, and Africa) were made from smartphones.
What are the keys at the national level? We know that 9 out of 10 Spaniards prefer smartphones for browsing.
In 2019, 53% bought by smartphone, and 7 out of 10 mobile users valued speed as one of the benefits of mCommerce. Payment methods have also been adapting to the needs of mCommerce and are estimated to grow at a rate of 33% per year.
We have pointed out three fundamental practices to improve sales:
- Loading speed
- Allowing a good user experience
- Facilitating the user’s path to conversion
And your company, does it have the fundamental ingredients to make your customers enjoy the best mCommerce experience?