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Top 7 m-commerce trends to watch for in 2022

m-commerce

The use of mobile devices is increasing every single day because of the continuous transformation of mobile technologies.

One cannot think about living a day without their phone because it influences different aspects of our lives. Whether calling our friends or family or buying products through mobile apps, our smartphone helps us do almost everything.

Today we will focus on the “buying products from smartphones” part, i.e. m-commerce.

Around 67% of mobile users are willing to do shopping on their phones. That’s why big e-commerce companies try to attract them by using innovative mobile technology solutions.

Let’s find out what are the latest m-commerce trends.

What is m-commerce?

In case you don’t know what m-commerce is, it’s similar to e-commerce. M-commerce occurs when someone buys a product on handheld devices, like tablets or smartphones.

Did you know that almost 70% of internet users access the internet on their phones?

M-commerce has been around for years. And, it was meant to be a big part of the e-commerce industry when smartphones were launched in the 2000s.

Some interesting m-commerce statistics that you would like to know:

Why is m-commerce important for businesses?

The number of handheld devices has increased to approximately 15 billion. (Source: Statista)

It is creating endless opportunities for businesses to promote their products and services on smart devices.

People who prefer buying products on phones won’t open up the web browser to visit an online store. They will most likely download an app to purchase products because it’s just more convenient.

That’s why e-commerce giants like Amazon, Ali Baba, and eBay have invested in mobile app development services to create an app for their businesses, other than their website.

So they can cover more customer touchpoints on different types of devices.

Around 79% of mobile device users make purchases occasionally. It means a business should not miss out on such vast opportunities.

M-commerce Trends that we will see in 2022

Now that you understand how important m-commerce is for businesses. Let’s check out some trends in the m-commerce industry.

1. Making a purchase at a single click

You may have tried purchasing a pair of socks on your phone but got overwhelmed by the amount of information required to buy a single pair of socks!

But you are not alone who face such problems because 18% of cart abandonments by customers are due to this reason.

I mean putting that much information is already hectic, but on smaller mobile device screens, it’s worse.

People seek convenience and ease of use when they are using mobile devices. If we calculate the cart abandonment rates on different devices, it’s highest for mobile sites at 97% while 68% for desktop websites.

But the cart abandonment rate for shopping apps is 20% only.

Businesses have to make the transactions as fast as possible. Ever heard of Steam? It’s a digital video game distribution company.

What’s good about it in this aspect? They make customer transactions as fast as possible. You have to put in the information only once, and then you can save it for the new transactions.

The next time you visit Steam, you just enter the security code of your card to complete a purchase.

2. Fintech Payment Systems

You may have heard of the term “Fintech”, it’s all about electronic or digital payment systems. If you don’t know about it, then I recommend you to read our blog post on Fintech payments.

Digital wallets are getting quite popular every day because they are fast and convenient modes of payment. And, they are becoming a big part of m-commerce trends.

88% of US buyers use digital wallets to pay for their daily transactions in 2021 (58% in 2020).

Cash on delivery and payments through credit/debit cards will become ancient in a few more years.

Why do people prefer digital payment systems?

It’s simple!

i) Extra payment features

ii) More secured

iii) Fewer regulations

iv) Easy and convenient

And, most Fintech payment systems are more secure and quick than bank credit/debit cards.

That’s why having multiple Fintech payment options on an m-commerce app can just make customers’ lives a whole lot easier.

Now many investors are willing to invest in digital payment systems to drive cashless payments.

Check out this graph that highlights the highest funded Fintech start-ups globally:

3. Smart UI/UX for easy navigation and search

According to a study, 5% of sales come from search queries and makeup to 13.4% of revenues.

Site navigation gets quite tricky on smaller screens with around 5–7 inches of display.

When people use mobile devices, they want everything available at a single touch. Here comes the need for a smart user interface and user experience.

Allowing customers to apply various filters along the lines of categories can help them find what exactly they are looking for in your online store.

Your job is to make the consumer journey as seamless as possible.

If you have an online store or are planning to launch one, it’s best to talk about this with the mobile app development experts first.

16% of app users end up installing apps due to poor user experience. If the customers can’t find the product in the store, they will definitely search it elsewhere. Wouldn’t you do the same? Obviously, you would.

4. Voice Shopping

Voice assistants like Siri and Alexa have been around for a long time, but voice shopping is becoming more common.

If you are a fan of sci-fi movies, you may have seen characters giving voice commands to their robots in those shows.

And, thanks to advancements in AI, your smartphone is no less than a robot itself.

(I hope these machines won’t turn against us to take over the world!)

Anyways, a lot of people research products through voice. The rate of voice shopping among 24–65 year olds is roughly 61%.

voice shopping

Shopping through voice is too easy because a consumer says a few words, and the AI assistant does the job to look for the products over the internet.

Online shoppers love the convenience and may search the product from different means, so a mobile commerce app has to be optimized for the voice assistants.

M-commerce stores will have to create an SEO strategy for voice shopping, easy site navigation, and faster loading time for websites or apps.

I know it may sound a lot, but making sales from any consumer source is the ultimate goal for any e-commerce business.

5. Social Commerce

Do you use social media apps?

Most likely, you do. More than half the population of the world is using social media now, around 4.55 billion people.

Social media is becoming a major part of m-commerce, resulting in social commerce.

Yes, a mobile responsive website and a mobile app for your store are essential too. But you don’t want to underestimate the power of social media platforms.

Furthermore, now an online store owner can create shoppable Facebook and Instagram posts and tag their product in them.

For example, if someone loves to consume content about fitness, they will get excited to see the products related to fitness.

And, the good part is that they will most likely buy it.

Plus, you can create shoppable posts for free. So there’s no harm in giving them a shot.

You might be interested in: Social Media App Development cost

Facebook, LinkedIn, Instagram, TikTok

6. Virtual and Augmented Reality

Virtual Reality and Augmented Reality technologies provide endless possibilities for m-commerce.

Both AR and VR have been around for some years, but now they are gaining popularity among marketers and e-commerce business owners.

Augmented Reality, specifically, is used to showcase how a product will fit in the daily life of a customer.

Have you ever purchased any furniture from IKEA? Well, if you want to see how any of their products will look in your house, you can do it by using their IKEA Place app.

IKEA Place was launched in 2017, and it’s still improving ever since. It uses AR technology to place the IKEA products in your house virtually anywhere you want.

Similarly, Amazon has its own AR feature in its app. You can look up if a product will fit in your house and make smart decisions.

All the products shown using Augmented Reality technology are true-to-scale, meaning all the dimensions, shapes, and sizes are almost the same as the real thing.

Also Read: Mobile app development trends in 2022

7. Image Recognition Technology

Image recognition technology is a part of different industries like education, healthcare, and automobiles.

But in recent years, it is becoming an enormous part of m-commerce.

It’s a very common practice among consumers to take pictures of products at a store to compare the prices before purchasing something.

Do you know about CamFind? This mobile app is one of many apps for this reason.

IR technology helps to make the products more visible to potential customers.

Google’s Cloud Vision API and Amazon’s Rekognition API are widely used among businesses for image recognition and explicit content detention.

Businesses who want to extend in m-commerce will have to implement such APIs in their business models (e-commerce websites and mobile apps).

google cloud vision
amazon rekognition

Concluding Thoughts

The opportunities to take your business to the next level with m-commerce are endless. But does that mean you don’t need an e-commerce website or a physical store?

No, not at all. It’s just about understanding your target market and capitalizing on m-commerce trends earlier than competition.

Analyze your audience. What platforms do they use? Do they use mobile devices or desktops to buy products? And, what payment gateways do they prefer? How can you use the latest technologies to win more customers?

An e-commerce store has to target customers at every touchpoint to generate more business.

And, mobile applications are one of those vital touchpoints to reach your target audience.

If you have a mobile app idea to enhance your business, let us know. We have worked on hundreds of projects. Don’t forget to check out our portfolio as well.

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Phaedra Solutions make innovative tech solutions for its clients. What value would you get on our blog? We create the most exciting and fresh content related to technology, business, and e-commerce. Follow us to get the most updated tech and business knowledge in the industry.

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