Convenience has fueled creativity, and customer behaviour has changed as well. The cell phone has become so convenient that we use it for everything from communicating with others to shopping. The rapid growth of online shopping for almost any product has compelled business owners to invest in M Commerce.
With smartphones and mobile app development following us around wherever we go, it’s unavoidable that they’ve shaped how we go about our everyday lives, work, shop, and consume material. Since almost everything is only a few taps away, the world is more linked than it has ever been.
Mobile technology, interestingly enough, is no longer restricted to personal use.
The year 2023 is not only a new year, but it is also a new year for innovations that will eventually determine trends.
Mobile Commerce is on pace control 73% of the global ecommerce market share by 2023, up from 59% back in 2017. Over the last six months, 79% of mobile users made an online purchase using their
Mobile Devices.
This means assessing your brand mobile experience is crucial to remaining competitive and delivering the CX needed to meet the top mobile commerce trends of 2023.
What is Mobile Commerce?
Mobile commerce (also known as m-commerce) refers to the buying and selling of goods and services through mobile devices, such as smartphones and tablets. M-commerce allows customers to access online shopping platforms, browse and purchase products, and make payments through their mobile devices.
M commerce has become increasingly popular in recent years as mobile devices have become more ubiquitous and more people are using their phones to make purchases. M-commerce offers several advantages over traditional e-commerce, including convenience, accessibility, and the ability to reach customers at any time and any place.
Some examples of Mobile Commerce include mobile banking, mobile ticketing, mobile payments, and mobile shopping apps. Mobile commerce has also enabled new forms of commerce, such as location-based marketing and mobile-only promotions.
Types of Mobile Commerce
Mobile commerce, also known as m commerce, is the buying and selling of goods and services through mobile devices, such as smartphones and tablets. There are several types of mobile commerce, including:
- Mobile shopping: This refers to the process of browsing and purchasing products or services using a mobile device. Customers can use mobile apps or mobile-optimized websites to shop for goods and services.
- Mobile banking: This involves the use of mobile devices to perform banking transactions, such as checking account balances, transferring funds, and paying bills.
- Mobile payments: This type of m-commerce involves using mobile devices to make payments for goods and services, either by scanning a QR code or by using a mobile wallet app.
- Mobile ticketing: This involves using mobile devices to purchase and store tickets for events, such as concerts, movies, or sporting events.
- Mobile advertising: This refers to the process of delivering ads to mobile devices, such as in-app ads or mobile website ads.
- Mobile coupons and loyalty programs: This involves offering discounts or rewards to customers who make purchases using their mobile devices.
- Mobile auctions: This involves using mobile devices to participate in online auctions, such as eBay auctions.
- Mobile content and subscriptions: This involves the purchase of digital content, such as ebooks, music, or video, through mobile devices. Customers can also subscribe to digital services, such as streaming video or music services, through mobile devices.
Top Mobile Commerce Trends of 2023
1. Progressive Web Apps
With time, business owners are realizing the popularity of mobile applications is going ahead with mobile-app first attitude in the market. More and more brands are expected to develop progressive mobile apps to stay ahead in the market.
A progressive web app is a website that looks and acts like a smartphone app. More brands can use PWAs to have a simpler, quicker mobile experience while still using a browser, rather than releasing native mobile apps, which can be costly to create.
2. Mobile Wallets
The use of mobile wallets can be directly proportional to online shopping. The mobile payment applications keep on offering lucrative offers and cash backs which attracts the consumers. The growing popularity of mobile wallets such as Apple Pay, Google Pay, or PayPal. is being leveraged by e-commerce business owners. In 2023, investments in mobile wallets, as well as one-touch purchasing will be on the rise, allowing customers to shop on the channels of their choice without worrying about security.
3. Augmented Reality:
2020 has forced brands to find new ways to bridge the online and in-store experiences. Adopting Augmented Reality (AR) has increased in popularity as brands work to give consumers a look into how a product would fit into their lives .Augmented reality and virtual reality are quickly gaining prominence in every industry. Augmented reality apps, when combined with AI-powered virtual assistants, offer a feel that is very similar to that of being in a physical store. In 2023, virtual reality will be a significant aspect of mobile commerce.
4. Voice commerce:
According to Loup Ventures, 75% of US households will possess smart speakers by 2025, bringing around US$ 30 billion in revenue. The primary reason for such massive growth in voice commerce is the convenience they offer. Users have access to a range of fast voice search options, such as Siri and Alexa, which have advanced the ease of shopping. Voice-based navigation is becoming more common, and users want a hands-free way to navigate the web.
5. Social Commerce:
Brands using social media to gain exposure and build brand awareness is nothing new. I’m sure (and I hope) that you’re already leveraging social media for your ecommerce business .Owing to the widespread usage of the internet in all facets of society, consumers are likely to come across a variety of products through social media. The mobile commerce creation service now provides social commerce. In 2023, social commerce will become one of the most important trendsetters. According to a new report, brands that use Instagram shopping have seen a 1,416 percent rise in traffic and a 20% increase in sales.
Since shoppable posts are still relatively fresh, I anticipate a continued upward trend in 2023. Consumers will look to buy directly from social media posts as more brands catch on.
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