Top Mobile Commerce Trends of 2016
The report of mobile over the last few years has been staggering. By next year, the twenty billionth mobile phone will be sold.And not only are there many extra mobile devices, but we’re also all growing more reliant on them. This has significant implications for retailers, particularly for online commerce, where mobile commerce already accounts for 30% of e-commerce and is supposed to grow 300% faster than traditional e-commerce.What does the upcoming year hold for mobile commerce? Here are some top mobile commerce trends to see in 2016.
PHYSICAL AND ONLINE WORLDS WILL CONTINUE TO CONVERGE
If your brand has a huge audience, chances are great your customers are going to be engaging with you across devices. About ⅔ of individuals own at least two digital devices (a desktop, smartphone, tablet or laptop). And more than ⅓ own all three. And they’re not only using varied devices, but they’re also communicating with your brand in ways that are blearing the lines between the physical and online worlds. Mobile commerce trend .
- Retailers are extremely aware of the overlay between online and physical channels. In response, they’re allowing an increasing array of online + in-store options.
- Online reservation and obtaining goods and services such as the online reservation of clothes to then be tried on in-store.
- Same-day delivery of items by a range of retailers.
- Also, there are enabled features comprising targeted offers, loyalty rewards, and mobile payments. 85 of the top 100 retailers are planning to adopt this technology by the end of 2016.
- SOCIAL COMMERCE WILL OUTLAST HOT, BUT WILL BUY BUTTONS DELIVER?
There is a very definite connection between social media and mobile.In the range of retail, social media is a meaningful force.In 2014, the top 500 retailers gained $3.3 billion from social shopping. Social shoppers are contributing extra money online than ever before.
And social-driven retail sales and referral traffic are developing at an accelerated rate than any additional online channels. 2015 was a significant year for social commerce, with the launch of shop buttons on Instagram, Twitter, Pinterest, and Facebook. Though Pinterest, for instance, has 60 million Buyable Pins, buy badges have yet to achieve wide friction on any social platform, turning in a lackluster performance over the holidays. However, given the importance of social regarding both traffic and revenue to m-commerce sites, social buy buttons and whether they obtain a foothold with consumers or not will be an essential trend to watch in the upcoming year that is 2017.
3. THE MOBILE WEB WILL MAINTAIN TO OUTPACE APPS
Over 85% of mobile time is consumed in mobile app for iOS and Android. That’s pretty unbelievable.A quick glimpse at this number would indicate that offering an app is important in 2016. But if you dig one level farther, it becomes really interesting: 8 out of every 10 minutes of app time is consumed solely on an individual’s top 3 apps. Across industries, the web operates 2x the site traffic of apps. In fact, of the top 30 retailers only two Amazon and Walmart drove further than half of their visits via their apps. Apps vs. mobile web: mobile web is winning.As for revenue, about 20 to 30 percent of a retailer’s mobile sales come from their app, according to forrester Research.It’s not shocking therefore that the state of retailing online 2015” report found that 56% of retailers announced mobile apps would not play a major part in their mobile strategy. To be clear: apps can certainly play a pivotal role in retailers’ mobile strategies, particularly for their generous, loyal customers.And thanks to extensive linking and Google App Indexing surfacing compatible app content in mobile search, traffic to apps will surely increase in 2016. In fact, now 40% of Android searches turn up app-indexed results.But given its clear leadership over local apps today, the mobile web will no doubt continue to eclipse apps as the biggest revenue driver for retailers in the coming year that is 2017.
4. CONSUMER EXPECTATIONS WILL fORCE RETAILERS TO FOCUS ON MOBILE MOMENTS
Consumers rely on their smartphones throughout countless mobile moments during the day. In fact, 91% use their smartphones while performing another task. And as they become extra reliant on their mobile devices, consumers expect to get precisely what they require at the consequence they need it. This mobile moments mindset grants retailers with unprecedented opportunities to retain their customers on mobile.Whether consumers are picking out their smartphones to convey a product search over breakfast, utilizing the store locator trait to swing by a retail area after work or pulling up a scannable awards card at the register mobile moments allow brands to provide their customers specifically what they require in their immediate contexts. One challenge for several retailers is that popular approaches for adjusting desktop experiences to mobile, such as responsive web design, fall compact when it comes to delivering contextual experiences.To keep up with their customers’ requirements during their mobile moments, retailers who are relying on active design to deliver their mobile experiences will need to solve for the limitations of responsive for example by implementing mobile experience optimization (MEO) on top of their responsive sites.But regardless of the technology they use, in 2017 we will see more retailers focusing on building mobile experiences that deliver exactly what their customers demand in their immediate contexts.
5. LOYALTY WILL ECLIPSE CONVENIENCE IN DRIVING MOBILE PAYMENTS
Tim Cook of Apple revealed 2015 the “Year of Apple Pay” when the service launched in October 2014. One year later, it only accounted for about 1% of total transactions in the U.S.Mobile wallets, in common, have been slow to take off.Most commonly used mobile payments services One historical challenge was not all retailers allowed mobile wallet payments.But even today, with 1 million merchants, allowing Apple Pay for example, and the mass rise to EMV compliant terminals (which means many more vendors in 2017 will be accepting mobile wallet payments than ever before).
6. THE GROWTH OF MOBILE WILL DRIVE BRANDS TO OPTIMIZE MOBILE CHECKOUTS
Retailers are missing $18 billion annually due to shopping cart abandonment. And research points over two out of three users who add items to their online shopping cart drop without making a purchase.The numbers are even critical on mobile where conversion rates are 70 percent lower than desktop. However, 2015 was a crucial year for mobile shopping. This holiday season, for example, mobile played a higher role than ever, with a 45% improvement in mobile traffic and 82% improvement in revenue. In fact, smartphones produced over 57% of traffic and nearly 30% of revenue over the holidays. And with mobile commerce foreseen to grow at a rate 300% faster than traditional e-commerce, major brands will focus on implementing a seamless checkout experience in the coming year.
2017 is going to be an exciting year for mobile. Let’s take a quick look at our list of top trends to watch:
- Physical and online realms will continue to converge
- Social commerce will remain hot but will buy buttons deliver?
- The mobile web will proceed to outpace apps
- Consumer expectations will drive retailers to focus on mobile moments
- Loyalty will eclipse help in driving mobile payments
- IoT still chasing full potential but wearable poised for growth
- The growth of mobile will drive brands to optimize mobile checkouts