We all saw it coming. The mobile device takeover is here and it isn’t going anywhere.
The mobile trend started out as a way for customers to search products, read reviews and compare prices. With the increasing technology and a shift towards apps for every store, customers are beginning to feel more comfortable making purchases via smartphones and tablets.
Consumers are taking advantage of purchasing on the go, with reports from Custora showing that over the last 4 years mobile traffic has gone up to 37% of all e-commerce. Revenue has soared from $2.2 billion in 2010 to $42.8 billion, with an estimated $90 billion in revenue in 2017 solely from mobile devices. With dependable and secure payment platforms such as Apple Pay and Vend that facilitate various types of payment, including mobile payment, consumers are being encouraged to shop via mobile devices.
Merchants are being forced to adapt to the customer’s needs, with shopping now available 24/7 and apps such as RedLaser and ShopSavvy that allow customers to compare prices. E-commerce sites are having to offer incentives like cash back, free shipping and live chat with customer service to keep the customers’ needs met.
Social media is also playing a big part in mobile e-commerce. With new marketing techniques, companies are able to advertise specifically to customers based on their search history. This marketing strategy leads to many impulse buys while customers are scrolling through social media on their phone. Reports have shown that the number of e-commerce conversions stemming from social media are rising.
Big name stores such as Best Buy, JCPenney and Gap are optimizing their e-commerce markets, and are finally getting a chance to be a contender in the race. Having an omnichannel, being both online and in-store, retailers are able to draw in customers with free shipping to the store, bringing in more foot traffic- although that might not be the simple fix these brick and mortar stores are hoping for. With customers now spending more time on their phone than in actual stores, retailers are forced to think of new ways to keep customers engaged. The competition is now moving toward who can ship their products faster. Amazon and eBay are already in the process of providing same day shipping, thus urging online markets to match their offers.
It is key that online retailers stay up to date on e-commerce trends, as mobile users will have other options with the click of a button. Few websites have the right setup for easy conversions on a mobile device. New apps are being introduced into that market everyday with the desire to make mobile shopping the number one purchasing space as well as making it as seamless as possible- something desired by every mobile shopper.
For now, we wait. The term “shopping mall” just may become something of history.