It is projected that by the end of this year, e-commerce will garner an astounding $3 trillion. Whereas nearly one-third is projected to come from mobile devices. We now realize that the screens are getting smaller but e-commerce is getting bigger. It’s a no-brainer that m-commerce has only been growing and soon it will take over desktop ecommerce. We are spending more time on smartphone and are using it for all sorts of activities than ever before. It makes sense, why ecommerce platforms are aggressively pushing mobile-friendly features in recent years. Coming years are going to see more of these features. So, we are here today foreseeing the future of M-commerce and how it will change the way people shop.
Let us then check out some of the ways how m-commerce will speed up the business process altogether –
Chatbots and Mobile Messengers
It’s not yet a mainstream idea and some may even be skeptical of implementing chatbots for customer support. But the fact that, big companies are already on board and are using it extensively brings such technologies into limelight. Companies such as Starbucks, H&M, Nordstrom and other industry leaders are totally betting on chatbots.
Statistics reveal that a majority of today’s customer prefer messenger apps and online chat to get in touch with brands instead of traditional email and phone calls. The result is the birth of smart chatbots. It will be able to respond to customers request in real-time. In future it could be able to learn about customers’ shopping habits and personalize their shopping experience by suggesting relevant products. Chatbots can integrate with Facebook messenger, Telegram or skype to cater to customers request without having to install a native app. That being said, bots still have a long way to go; however, with the popularity of AI platforms, it can be said that consumers will welcome it with arms open wide.
Some movies like the 2013 Oscar nominated “Her” showed the futuristic implementations of AI chatbots and from that we can clearly infer that chatbots may be the ‘Thing’ of the future.
AI related apps continue to boom in various industries including e-commerce. Although it is still in its infant stage, we can definitely expect to see multiple AR possibilities in the coming future. Companies such as Houzz has already rolled-out AR app which enables shoppers to virtually place the position of the furniture in their homes. Company such as Sephora is using AR technology to create virtual makeup mirror. Statistics reveal that 40% of shoppers are willing to spend more for a product if they experience it through AR before purchase. More than 60% of shoppers prefer brands taking advantage of AR than those who don’t. More than 70% of customers would give more credibility to a brand if it offered AR as an option for shoppers.
Similarly like the chatbots, many would take AR with much skepticism but the way technology is evolving and the given popularity of AR apps, it will certainly be a compelling thing to have for more conversion rate optimization.
Currently, Amazon is enjoying a substantial amount of ROI with its true one-click purchasing. But, some leading mobile wallet players such as Google and Apple are ready to offer their own one-click solutions for shoppers. Single click payment is a feature customers would definitely like to have. Amazon’s success largely depends on the single-click process where customers don’t have to re-enter information and don’t have to go through additional unnecessary processes.
However, it must be kept in mind that single-click payment could encourage impulsive buying via mobile phones. By putting fewer barriers between cart and payment, very few shoppers would actually drop out of the transaction process. This means it’s a good news for the m-commerce merchants in the near future.
E-commerce and marketing automation go together and with today’s technology advancement, more opportunities have open up in order to completely automate various marketing efforts. Functionalities such as shopping cart abandonment notification, re-engagement efforts, Loyalty programs, product reviews, similar products, etc. can be automated to give customers a seamless and unique experience. E-commerce today have massive opportunities for email marketing and social media marketing as they have both become mobile channels. Merchants must take advantage of automation to grow their business to new heights.
Native E-commerce Apps
Today’s generations spend more time on mobile than any other electronic devices and much of the time is being spent with some sort of apps, be it in social media app, messaging app or shopping app. Native e-commerce apps are already on the trend and it is realized that the benefits of native apps outweigh those who don’t have native apps. Its ability to track and reach buyers via app notification is what makes it so great. At the same time, it also provides a more personalized experience for shoppers, making the brand more desirable. Today’s e-commerce store must focus on creating an omnichannel presence by reaching customers both via mobile and desktop application.