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Just as the popularity of mobile devices has grown over the years, so has the popularity of mobile commerce, also known as e-commerce. Using a mobile device allows consumers to browse and shop from anywhere, which can increase customer impulsivity and instant purchases.
As more companies see the potential of mobile commerce, retailers need to think and plan ahead to stand out from their competition. Here are some of the mobile shopping trends and strategies to go ahead with e-commerce in 2022.
What is e-commerce?
E-commerce, or mobile commerce, is the use of a handheld device, such as a phone or tablet, to conduct various business transactions over the Internet. These transactions can include browsing and purchasing products, banking and investing online, or paying bills. With e-commerce, consumers can make purchases instantly from anywhere, as long as they have a cellular signal and a data plan.
Mobile shopping trends have proven that e-commerce is the future of shopping due to its convenience and streamlined technological developments that make it easy and attractive to consumers. According to Oberlo, nearly 3 out of every $4 spent on online purchases is made through a mobile device, which proves that mobile commerce is a very prevalent and popular way of online shopping for users.
Updated mobile commerce trends
There are many trends dominating the e-commerce industry today. For example, while social media dominates industries like fashion and technology, it is also contributing to more mobile commerce sales. Data from App Inventiv showed that 55% of those who shop on their smartphones purchased a product after seeing it on a social media platform.
Voice shopping is steadily gaining popularity as voice-controlled smartphone assistants like Siri gain advanced new features. In 2018, audio shopping was a $2 billion industry. This number is estimated to grow to over $40 billion in 2022 – that’s 1900% growth! It is essential to ensure that your applications have taken audio capabilities into account.
Mobile retail sales reached $359.32 billion in 2021, an increase of 15.2% over the previous year. By 2025, these sales should more than double to $728.28 billion, representing 44.2% of e-retail sales in the US By 2024, e-commerce is expected to reach $620.97 billion, or 42.9% of e-commerce. sales.
M-commerce also occupies a unique position in the mobile wallet industry, which is expected to reach $3.5 trillion in revenue by 2023. Users are more likely to use a mobile-friendly site that remembers their payment information. By storing these details, those in the e-commerce space have direct access to a better end user experience.
How retailers can improve the mobile first experience
In the world of e-commerce, there is a lot of competition. If a business’s website does not highlight products effectively, it can result in lost sales. In order for retailers to improve the mobile-first experience and retain customers, companies must think about ways in which they can create effective workflows to create a positive customer shopping experience.
First, retailers must ensure that pages load quickly and are easy for the consumer to navigate. A survey from IMPACT shows that 61% of mobile users will not return to a website that is not optimized for mobile. Additionally, tagging product attributes and offering different category filters can lead to a smoother shopping experience for consumers, as they can filter out the types of items they don’t need and just browse for what they’re looking for.
While these tips can help improve the customer experience, they are demanding to implement, which can require a lot of resources. With the help of visual AI solutions, companies can simplify the optimization process to increase sales.
2022 e-commerce tips for success
1. Select the appropriate technology strategy
As competition in e-commerce and retail heats up, startups are taking advantage of artificial intelligence to customize the product discovery process for buyers and retailers alike. In the face of increasing pressures from the dominant players, many smaller retail and e-commerce companies are seeking new strategies to differentiate themselves and attract consumers. In response, startups have emerged to help retailers and e-commerce workers streamline operations and customize customer service, often through the use of AI-powered technology.
Specifically, many startups are taking advantage of AI to improve product discovery for both consumers and retailers. While start-ups like Twiggle focus on improving e-commerce searches through natural language processing, others like OMNIOUS.AI are helping retailers improve results seen by consumers. This will increase mobile traffic and sales. Visual searches guide customers to make purchases by accurately displaying the items they are looking for, along with related items you may be interested in. This image recognition software helps consumers use their time productively by browsing product recommendations based on what they’re interested in, rather than a random set of suggested items. This also helps customers quickly identify the product they want, giving them the initiative to make an immediate purchase.
2. Personalization is the key in mobile commerce
Nowadays, consumers want relevant and targeted information. Companies use many methods to create these personalized experiences, including allowing shoppers to self-declare their preferences and demographics, or buy data. Recently, personal user experience is an important factor that leads to conversion on mobile.
3. Optimizing the shopper’s journey
If you want consumers to buy your products, the buying process should be simple. The fewer steps a customer has to take to make a purchase, the higher your conversion rate. Think about how you can help your customers get out of the account with fewer steps.
Optimizing the commerce experience for all settings, touch points and environments will be the next frontier for the world’s leading retailers.
Some of the main benefits of improving e-commerce experiences are:
- Increased Conversion Rate – The frictionless journey and enhanced retail experience make it easy for new customers to become regular shoppers.
- Brand recognition – A positive experience with a brand leads to increased recognition through word of mouth, positive reviews, or repeat buyers.
- Loyal Customers – Customers support brands that provide personalized experiences for both digital and physical touchpoints.
4. Refine the smartphone cart features
A retailer’s shopping cart features can make a customer’s decision to buy or break an item. Shopping cart abandonment is a huge problem in mobile commerce, therefore, some features are important to make sure customers come back to buy the product they are interested in.
Shopping carts should store all product information and data so that customers can easily visit an item and purchase it at a later time. The cart should be a gateway to customer demand, retailer’s catalog and customer management so that consumers can find everything they need in one place.
By improving shopping cart features, the company can simplify the customer checkout experience to ensure they do not face any barriers or inconveniences that cause them to abandon their cart.
5. Improved personalization based on mobile data
Customers browsing and buying in e-commerce generate valuable data, which can be useful for retailers to leverage in creating a personalized shopping experience. As consumers browse, data is produced that helps retailers see their browsing and shopping habits, as well as engagement and purchase history.
This information helps customers get the best possible shopping experience. Retailers can communicate with customers the way they prefer, to give them a personalized experience. By seeing customers’ shopping patterns, businesses can better understand what their customers care about better. This will help determine which products or services work best.
6. Update your smartphone’s recommendation engine
Consumers rely on product recommendations to help them find what they’re looking for. When a customer browses on their smartphone and searches for the company’s products, they expect to see a list of similar or complementary items that go with whatever they’re looking for.
In mobile commerce, it is important to keep the smartphone recommendation engine up to date with the latest products, while remaining relevant so consumers browse through new items and increase sales. Based on user preferences, browsing history, and past sales, retailers can customize their results so that the customer sees the products they are most likely to buy. Using this tool helps put your products in front of the right consumers.
7. Focus on the overall digital phone user experience
Retailers should focus on the overall experience of a digital phone user, bearing in mind that this is very different from what happens when shopping with a computer. E-commerce consumers are often in a hurry, distracted by things around them like phone notifications and apps vying for user attention, and they are looking for quick results. For this reason, retailers benefit from focusing their efforts on ensuring that customers’ browsing experiences are pleasant and free from any errors, lags, or difficulty in navigating. Each consumer will shop on a different device, so retailers must ensure that the experience is optimized for each user and can accommodate any restrictions a mobile device may impose while browsing the company’s website.
Jaeyoung Joon is the founder and CEO of OMNIOUS.AI.
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