The first iPhone was released June 29th, 2007, and became the catalyst for one of the fastest worldwide technological adoptions. The quarter before the iPhone was released, only 715,000 smartphones (yes, they did exist before the iPhone) were sold. In the first full quarter the iPhone was available, Apple sold 1.12 million units. More than a decade later, 77% of US adults now report owning a smartphone.
And what does this mean for e-commerce? Opportunity.
It’s one thing to wait till your customer sits down at their computer or walks into your store; it’s another to be available on the device your customers are glued to for five hours a day. While only 5% of that time is spent directly on shopping, more than half of time spent on mobile devices is on social platforms tilled for commerce marketing.
The opportunity to pull in big dollars from mobile e-commerce—or m-commerce for short—has been proven. In Q4 2016, m-commerce brought in 21% of total e-commerce sales. That’s $22.7 billion dollars.
But it’s competitive to get a bit of this growing pie. In order to grab your slice, you need to stay on top of the latest consumer-driven trends to please your customers.
Here are the top 3 customer-centric mobile e-commerce trends for 2018.
1. AI Backed Everything
Investors have been pouring into AI research and development for a long time, and it’s beginning to pay off. McKinsey & Company, a worldwide management consulting firm, reported in June 2017,
“Early AI adopters that combine strong digital capability with proactive strategies have higher profit margins and expect the performance gap with other firms to widen in the next three years.”
AI technology and its many subsets, such as machine learning, can be applied to increase revenue, save time, and reduce costs. For
2. One-Click Payments
Amazon filed the patent for one-click payments in 1997 and has held it ever since. If you have been paying attention, that means that it expires in 2017. September 12,
For all of
And one-click purchasing is bound to have its biggest impact on m-commerce which is notorious for high abandonment rates. Where desktop sites tend to get away with asking a little more from the customer, mobile design performs better in its most simplified form.
M-commerce companies implementing their own one-click purchase options will be simplifying their customers’ journeys and likely increase their revenue as a result.
3. Blended Online-Offline Experiences
In 2013, Google picked up on the trend of consumers using their mobile phones while they shopped. In 2017, Google took the trend one step further, noting that consumers are blending their online and offline experiences.
This trend is customer-led and worth taking note. So how should retail and e-commerce respond? By giving them the blended experience they want.
This has been happening in a number of creative ways. Target uses its m-commerce app to give customers discounts while shopping in physical stores. ModCloth is one of the few e-commerce shops to open a brick and mortar store. Their strategy has been to keep inventory low, and instead focus on the shopping experience with ModStylists. And Ashley Furniture is using AR and VR technology to let customers see how furniture will look in their homes—via an iPad app.
Physical commerce sales still outperform e- and m-commerce, which is a clear indication that customers still like to see a product in real 3D. Shopping—inside a store—is still a popular pastime. And as long as customers are bringing their phones with them (they are), there’s an opportunity to make m-commerce part of that experience.
We wrote this post because we love mobile e-commerce.