Over the last two decades, consumers have been spending massive amounts of money online. From approximately $7.3 billion back in 2000, the eCommerce sales have amounted to $115.3 billion in 2017. However, in the past few years, online shoppers have gained more flexibility and accessibility – all due to the ever-increasing use of mobile and evolution of mobile commerce (M-commerce).
Mobile commerce, as the name suggests, is purchasing products using mobile devices. Mobile commerce has garnered tremendous popularity in the recent years. It is constantly evolving with the advances in the technology. As smartphones and tablets become more ubiquitous owing to its light-weight and portability, consumers are shopping through mobile from anywhere, anytime. Those retail businesses that are able to adapt to this major trend, leverage mobile app development on Android platform and deliver mobile-friendly user experiences will outgrow their competitors in 2018 while achieving a clear competitive edge over their less mobile-savvy sellers.
Taking into account how your business will keep up with the new tidal wave of mobile commerce, let’s discover some key m-commerce trends that will rule 2018 and the following years.
Near Field Communication (NFC):
Near Field Communication (NFC) is not entirely a new concept but is expected to gain momentum in the coming years. More and more retail business will adopt this technology to let their customers connect with almost any real-world elements such as apparel, stationary objects, posters, furniture, etc. Currently, Google Wallet and Isis are leading the NFC game. However, as the adoption boost up, a lot more enterprise will join the bandwagon.
Today, consumers are heavily reliant on portable mobile devices to buy products and services from retail merchants – large or small. This makes it imperative for retailers to offer NFC as a payment option through their mobile application. And as the use and penetration of mobile devices in the market continue to grow, you can anticipate further augmentation in the adoption of NFC mobile payment. Even though it will be a nominal percentage of increase, the growth will still be impressive.
Location-based Mobile Advertising:
The retail giants such as Macy’s, Target, and JCPenny are continuously exploring and investing in the digital methods and techniques that can drive in-store traffic as well as boost ROI. With that said, mobile advertising is an ideal way for retail businesses to expand their outreach and user base. Over the past couple of years, many retail merchants have combined location-based technologies to their existing system to better target potential customers.
For example, Best Buy and Victoria’s Secret have made location an integral part of their mobile strategy to aid consumers in discovering the closest physical location. Many customers are still hesitant to the idea of shopping on mobile. Hence, using location-based mobile advertising to drive walk-ins is undoubtedly a smart business move.
There’s too much of debate on the use of QR codes in retail businesses. Marketers are either in full support of or against the idea of implementing QR codes. But Retailer Express is placing QR codes with each of its direct mail to let consumers shop featured looks. Additionally, Boston Market, a popular restaurant chain, successfully drove consumers by running a campaign that offered free prizes to users on scanning the QR codes. Also, McDonald’s followed suit by putting QR codes on its packaging as a part of its CSR efforts to create awareness among consumers for leading a healthy, nutritious life and making informed decisions.
With the above-mentioned trends and technologies, the mobile commerce industry is set to reach heights in 2018 and beyond. What are some other trends and technologies that will induce growth of the m-commerce sector in the coming years? Let us know about it using the comment box below.