Mobile commerce, also known as m-commerce, refers to online transactions using wireless handheld devices such as smartphones and tablets.
M-commerce explained
Experts consider m-commerce as a part of e-commerce, which refers to online transactions via computers and laptops. M-commerce specifically refers to internet transactions done through mobile devices. Thanks to advancements in technologies, m-commerce is becoming an increasingly large part of e-commerce, triggering new industries and services while helping existing ones grow.
Among the broad range of m-commerce transactions, mobile shopping is the most similar to e-commerce. This involves shopping through websites, dedicated apps, accelerated mobile pages (AMP), or even social media platforms that allow in-app purchases.
One of the most significant advantages of m-commerce is providing users with convenience. Customers can shop at any time, anywhere – and this automatically creates a better shopping experience.
According to a Statista study, m-commerce may take up to 72.9% of global online retail by 2021. Emerging markets in mobile-first economies are the driver of the trend. This trend is apparent in Southeast Asia, home to the most active mobile users globally, resulting in the quick adoption of m-commerce.
Why m-commerce?
M-commerce is a top priority for brands because it means translating the 5.19 billion mobile phone users worldwide into their business. New opportunities are materializing every day with the accelerated launches of emerging technologies, services, business models, and marketing strategies exclusively for mobile. Brands are stepping into the retail industry with a mobile-first mindset, considering that mobile shopping is taking the lead, with 49% of consumers using their mobiles to shop, 43% using PCs, and 8% using tablets.
Here are the benefits of m-commerce for business owners:
- Easier entry to the market: Mobile e-commerce platforms allow merchants to build a shop, take product pictures, update new products, manage customer service and marketing, and other business practices all through a smartphone.
- Faster transactions: Consumers can browse and purchase products faster through shopping apps optimized for mobile and easy-to-use mobile payment options.
- Better customer experience: Customers can get a great shopping experience with an app that is fast, convenient, interactive, and exclusive. Making product inquiries, talking to a customer care representative, tracking packages, requesting returns, and more is made instant via mobile.
- Enhanced connection: With online shopping, customers receive offers through emails. With m-commerce, they can receive push notifications directly to their devices.
- More in-depth analytics: Since mobile devices carry more information on users’ age, gender, location, and shopping history, brands can provide consumers with more personalized products and encourage them to buy on the spot.
One brand that does m-commerce well is ASOS. The UK-based fashion retailer offers thousands of products in its mobile app, including video catwalk features and augmented reality try-on tools. After revamping the app experience, consumers spent an average of 80 minutes per month on the app.
Cafe24 supports the mobile-first approach
According to OuterBox, 79% of smartphone users made a purchase using their devices in the last six months of 2019. With over half of the world’s population using mobile phones, it’s a clear sign that developing, adopting, and creating an m-commerce strategy is vital for any business’s success.
Cafe24 supports this progression by providing functions that support businesses’ m-commerce needs, especially for economies that prefer the mobile-first approach. In addition to a platform upgrade that allows merchants to manage their stores via mobile, other services include:
- Smart Web App: Based on progressive web app (PWA) technology, Cafe24’s Smart Web App allows users to install a web page on their mobile’s native home screens in app form with the click of a button.
- AMP: Cafe24’s AMP service makes it easier for merchants to design and edit their mobile store interface. AMP also boosts load times, which can help increase conversion rates.
- Plus App: Brands can build dedicated mobile apps that provide push alerts, coupon setups, design customization, and other features.
As mobile ownership continues to rise, brands can expect continuous growth in m-commerce activity. Cafe24’s goal is to empower businesses of all sizes to explore new sales opportunities as they develop and grow their m-commerce strategies.