M commerce has completely revolutionised the way the ecommerce industry works. A quarter of the population are online shoppers and, 51% of them use mobile devices to discover new brands and products.
With the intense competition in e commerce, it is imperative for brands to find ways to engage their customers better. Providing a seamless buying experience across multiple channels goes a long way in helping brands win loyal customers in the long run.
Going the m commerce route is the new mantra to success for brands. With their apps and mobile websites, brands virtually create a shop in their customers’ smartphones. With everyone virtually being glued to their cell phones, enterprise businesses can strategically use the trends to hack their growth.
Table of Contents
- How M Commerce is reshaping Ecommerce Industry
- What is M-commerce?
- Why enterprise brands should leverage M commerce for growth
- How to implement M Commerce the right way?
- How different industries can unlock growth with M commerce
- Key takeaway
Let us explore the mobile commerce trends, its benefits, and the industry usage step by step. Here are few figures to give a better perspective about mcommerce:
$700+ billion is the estimated mobile commerce sales by 2025
75% of the amount spent on online purchases today is done through a mobile device
40% of revenue in leading B2B organisations is driven by mobile channels
63% of mobile phone users prefer buying from a company owning a mobile app or mobile website
3.8 trillion hours were spent on mobile apps during 2021, that is a 30% increase from 2019
27% is the mobile commerce market CAGR for 2021-2026
The data above reflects one thing precisely: the need to rely on a mobile-first approach to grow your business. Marketers know that m commerce is the top most loved channel by the customers. Growth hacking becomes more effective when brands can leverage the most loved channels of their buyers to gain strategic insights and target buyers accordingly.
Before we understand how mobile commerce enables brands to plan and achieve targeted growth, let's first understand what m-commerce comprises.
To put it in layman's terms, m commerce is the subset of e commerce wherein digital buying and selling is done through wireless handheld devices like mobile phones, tablets etc. M commerce makes enterprise brands online presence suitable for smaller and on-the-go screens.
By offering ease of use and accessibility on the go, m commerce has proved to be an engaging and conversion oriented sales channel. Buyers love to connect with brands on their mobile devices and are also known to make bigger orders and impulsive purchases when targeted strategically.
Mobile commerce application sessions have witnessed a 92% increase from 2017 to 2021. With 70% customers willing to download the merchant/brand apps, investing in mobile apps and websites is the way to go for brands.
Let us now dive into the benefits of having m commerce as a primary channel to engage with the your enterprise brand’s customers
With smartphones connected with the internet in every hand today, brands have the means to tap into new markets that were otherwise inaccessible. With m commerce stores online brands can quickly add new customer segments and multiply their reach.
The amount of time a user spends on his mobile phone is directly proportional to the amount of time you get to engage with them. An increased customer engagement is the key to increased sales.
With the support of personalised push notifications, customised offers and discounts directly targeted on your customer’s mobile devices, you can win customers and engage with them strategically.
Did you know that mobile phones nudge the end users to buy more? 90% of the users make impulsive buying decisions when using mobile apps.
Due to the increased convenience in shopping on mobile devices, apps and PWA stores become the tools to nudge your buyers to buy more.
What happens when you come across something multiple times during a day? You start recognizing it in an instant. Same applies for your brand. When you make your audience stumble upon your brand’s image multiple times a day, they start associating with it subconsciously.
With mobile commerce you are able to reach your audience on various touch points and help them remember your brand. PWA stores and apps offer awareness and engagement to your customers, and before you know it, your brand loyalty takes the front seat.
89% of the marketers see a positive ROI when they use personalised marketing. Well that's right, who doesn't like a personalised shopping experience? When you offer personalised content, deals, and shopping journeys, the millennial customer feels emotionally connected with your brand and tends to respond positively.
M commerce gives you the right tools and scenarios to push personalised marketing and boost conversions.
With paradigm shifts in the market trends, Google has also updated its ranking algorithms. With Google's mobile first indexing, mobile version content makes it to the top of SERPs.
In simpler words, businesses having apps or PWA stores have an edge over those who have little to no m commerce presence. SEO, mobile websites, and mobile applications can together help you get noticed by your end users and bring more organic traffic to your brand.
With so many benefits, mobile commerce certainly is the way ahead for brands.
While m commerce is changing the online shopping trends, the question here is how to stay on top of it? To put it simply, your enterprise brands needs tech solutions designed to ace mobile commerce.
StoreHippo is designed grounds-up on the mobile first approach. It offers next generation mobile app solutions for all your m commerce needs. Online stores powered by StoreHippo are built on mobile-first technology and are hybrid mobile apps that run seamlessly on all devices. Using the Progessiove Web App (PWA), StoreHippo builds websites that look, work, and feel like mobile apps and increases your conversions with an enhanced user experience. Storehippo comes with a built-in mobile apps builder that creates mobile apps in a few clicks.
StoreHippo’s decoupled headless platform powered by MACH architecture and mobile-first approach helps brands build extremely personalised experiences for their buyers. With StoreHippo, you get the benefits of personalisation on mobile apps in the easiest ways. You can create personalised landing pages for different audience segments and engage them better by offering personalised deals and promotions with the powerful discount engine by StoreHippo. StoreHippo also comes with unified notifications (email, SMS, PUSH) that helps brands in multi-pronged customer targeting in real time as well as for abandoned carts and wishlists.
M commerce is a sure shot way for businesses of every scale and size to accelerate their growth. With close to 80% customers preferring the mobile channel to shop, brands that have a higher frequency of repeat orders (like everyday essentials, FMCG, food delivery, fashion, gifts etc.) can scale rapidly by adding m commerce channels for their customers.
Here is a list of top 5 industries that can see quick results by leveraging mobile commerce:
$354.28 billion global online grocery market size in 2022
7.6% of total global grocery sales will be done via e commerce by 2026
2 out of every 3 dollars spent on online purchases is through a mobile device or mobile apps
The COVID pandemic has hugely changed the grocery buying patterns. More and more consumers have shifted to buying groceries online and even after COVID, people are hooked to easy digital shopping with offerings from hyperlocal and quick commerce brands.
Online grocery brands have engaged their customers using conversion-oriented PWA powered ecommerce websites, mobile apps, and lucrative deals personalised for different audience segments. Enterprise grocery brands looking to sell to a wide audience base can use StoreHippo's battle-tested solutions for setting up a variety of grocery stores. They can build grocery online marketplaces, a network of grocery stores based on location, or set up sub-stores in regional languages and build mobile apps and progressive webs apps to grow quickly.
11% of FMCG sales is expected to be done through e commerce by 2030
10% of the total worldwide ecommerce sales will be online FMCG sales by 2025
The Fast Moving Consumer Goods online market is growing by leaps and bounds. In place of visiting the store every week, consumers are finding it much more convenient to order their necessities on mobile apps with the tap of a finger sitting comfortably at home.
FMCG brands can offer unique personalised landing pages, discounts and deals through the mobile channels to engage their customers better. Storehippo offers end-to-end solutions to roll out a FMCG multi vendor marketplace portal and mobile apps quickly. FMCG brands can also use the mobile admin to run the business on the go.
47.5% of clothing sales will be via e-commerce by 2024
53% of the consumer's view fashion products in the store but buy them online
46% of the average revenue comes from mobile, compared to 25% from desktop and 9% from tablets
Source: CM, Statista
Online fashion and apparel industry is one of the most popular m commerce niches. From shoes to apparel to accessories, consumers are looking for anything and everything online today. The rapid increase of internet penetration and smartphone use is the leading contributing factor towards this change.
Users tend to explore fashion marketplaces in their leisure time and end up making impulsive purchases. However, it is also imperative to maintain synergy between online and offline channels to leverage the benefits of m commerce to the end users.
With the PWA powered stores from StoreHippo, you can reach the tier 2 and tier 3 cities and be available on all entry level devices even in the areas with poor networks. These PWA marketplaces enable you to also leverage SEO benefits giving you an edge over other enterprise brands that do not have PWA powered stores.
$ 80,156 million is the estimated market volume of the food aggregators by 2023 with an annual growth rate of 8.4%
2,613.2 million number of users are expected to join the online food delivery segment by 2027
When the world was hit by COVID, lots and lots of businesses took a setback, but few industries seemed to survive well. One such industry was the food aggregation industry that made the best out of the worst. With the ease of your favorite food delivered at the doorstep, customers got accustomed to this new fad of ordering food online via m commerce. And the habit seems to stay with us.
However, managing a food aggregator platform, collaborating with multiple restaurant vendors, managing commissions, taking care of orders and timely order fullfilment is a complex task which can be streamlined well with different mobile apps. . StoreHippo helps food aggregator brands grow their business by offering customer facing apps, vendor apps, admin apps and delivery boy apps to streamline deliveries of food. Food aggregators can reap excellent benefits by connecting their customers, vendors and delivery agents through mobile apps.
- 34.3 billion dollars is the estimated market size of the gifts industry by 2026
Gifting your near and dear ones is always in fashion. Flowers are one such gift item that never gets outdated and is loved by all. Gifts and flowers is another industry that can grow quickly by leveraging the m commerce channel.
The younger generations are booking such gifts and flowers on the go i.e. on mobile devices. The online marketplaces in the gifts and flowers industry can grow their sales through mobile commerce channels by engaging their customers in real time using a variety of notifications. Gifts and flowers industry can get bigger ticket size purchases on mobile devices when personalised deals are sent in real time. StoreHippo enables gifts and flower brands to build location specific gifts and flower shops with multilingual support for better reach. Brands can also leverage hyperlocal commerce by partnering with local gift and flower vendors.
E commerce is majorly m commerce in our age and time. Going forward mobile commerce is going to grow further. Businesses looking forward to creating a niche for their brand need to leverage the channel to build a strong bond with their customers. And to do this, enterprise brands need the best mobile commerce solutions at their disposal.
StoreHippo has the experience and expertise of building the best m commerce solutions for a variety of brands across industry verticals. With the next generation platform built grounds up on the mobile-first technology, StoreHippo helps your enterprise brands make the most of the m commerce boom. With the built in powerful features and cutting edge mobile commerce solutions, StoreHippo can enable brands to chart a new growth trajectory. Explore StoreHippo’s mobile commerce solutions, start your 14-day free trial now!