Mobile apps have become an essential part in our daily lives. This has changed the world around us in different ways. From accessing educational content in real-time to ordering food online – our smartphones can do it all. This has considerably affected our daily tasks, how we work and how we buy and access contents. The world is more connected than ever because nearly everything is just a few clicks away. By providing a platform that acts as a link between buyers and sellers, E-commerce Mobile App Development is empowering business of all kinds. This has led to formation of Mobile Commerce.

What is Mobile Commerce?

Mobile Commerce, also known as M-commerce is related to buying and selling various products and services with the help of wireless devices such as smartphones and tablets. It helps the buyers in connecting with sellers through any part of the world via mobile devices. Mobile commerce has refined the e-commerce field by providing various innovative services such as contactless payments, in-app purchases, mobile wallets, and much more.

Advantages of Mobile Commerce 

Mobile commerce has taken the online shopping experience to the next level. Let us take a look at the various advantages of mobile commerce:

1. It enables the customers to shop from any place and anytime provided that they have a smartphone and a strong internet connection. The user experience is further strengthened by features such as chatbot and AR/VR.

2. With the help of various payment solutions integrated with mobile commerce, customers can make payments through mobile wallets, credit/debit cards, and much more.

3. As Mobile devices can be used anytime and anywhere, retaining old customers and attracting new buyers has become easier for businesses.

4. Mobile commerce offers a unique Omnichannel experience across various networks by simultaneously marketing and selling to multiple customers. Customers can choose the platform of their choice to get in touch with different brands and purchase from them.

Applications of Mobile Commerce

Mobile Commerce has entered into all core elements of our daily lives such as banking, telecommunications, healthcare, etc. Recently the need for mobile commerce has dramatically increased due to the ease of accessibility they offer. Therefore, given below are some of the applications of mobile commerce:

1. Mobile Banking

As mobile commerce contains features like multiple payment methods, users can make hassle-free payments with just a single tap.

2. Booking tickets

With mobile commerce, users can book tickets anywhere via their mobile phones. Once the payment is done a ticket is mailed directly to the user’s phone.

3. E-bills

Users can pay bills of gas, electricity, and much more from their homes with the help of the e-bill feature.

Mobile Commerce Trends to Watch Out in 2021

According to market research by Statista, reports show that Mobile commerce will be responsible for around 55% of e-commerce retail sales. Therefore, if you are planning to bring your e-commerce business online, knowing the latest trends will be a plus point for you. Here are a few latest mobile commerce trends that will dominate 2021:

1. VR and AR

Virtual reality (VR) and Augmented Reality (AR) technologies are widely implemented in the retail sector nowadays. According to a report by ABI research by 2022, more than 115 thousand stores across North America and Asia Pacific region will integrate AR tech with their services. The AR software paired with AI-powered smart assistants creates sample virtual environments for customers unlike in traditional retail stores where the users can touch and feel products. It is estimated that by 2025, the AR and VR industry will grow up to 35 billion US dollars. As a result, by integrating AI and VR you will be one step ahead in the competition.

2. ChatBot

The chatBot is one of the most important tools used in E-commerce and M-commerce platforms. As per reports, the global ChatBot industry is expected to generate about 450.2 million USD by 2026. By integrating ChatBot in their smartphones and websites, Businesses will be able to offer 24/7 customer support to their clients. Chatbots can operate continuously without any delays, unlike human employees. They also help the clients in taking effective decisions effortlessly. Due to its efficient performance and good accuracy, Chatbot has become a popular tool in the E-commerce and M-commerce industry.

Read: Top Mobile App Development Mistakes Made by Developers While Developing an App

3. Dynamic Pricing

Currently, the hottest trend of the m-commerce industry is dynamic pricing. To attract more customers, companies must offer the right price for their products. But the main question is – What exactly should be the ‘right’ price for their products? The perfect solution for this is by analyzing market prices. M-commerce companies must continuously monitor the pricing policies as well prices of different goods of their rivals. Tools like Price Labs and Minderest helps in analyzing the competitive market prices and the most appropriate price for your products.

 4. Voice Assistants

The reason why Voice Assistants is becoming a hot trend in M-commerce platforms is because of its efficiency. Voice assistants such as Alexa, Siri, and Google assistant simplify the search process, thus enhancing the overall experience for the customers. Hence, by integrating this feature into your service, you can provide your clients with smooth voice navigation and perfectly optimized search which is a plus point in the long run.

5. Quick Checkout with Multiple Payment Methods

Generally, all the customers prefer a quick and convenient checkout process. Integrated the quick checkout process with several payment methods can lead to an enhanced customer experience. For example, a mobile app with a smooth checkout system is always attractive to new customers. They prefer a platform, in which they can make payments through multiple methods like credit/debit card, net banking, and much more. Anyone who fails to provide these solutions cannot convert their potential leads into customers.

6. Omnichannel Marketing

This method is one of the core strategies for both distributors and m-commerce detailers. Due to the growing use of mobile devices and social media platforms, companies focus on building a presence on these sites to stay ahead in the competition. As customers switch between various channels every minute, they want to contact these companies through their preferred channels.

Conclusion

In the coming years, these technologies will dominate the mobile and e-commerce market. With new technologies coming into the equation, the business that focused on a particular segment of the market will now have to devise creative strategies to utilize these technologies. So if you thinking of getting an app developed for your E-commerce business, the best thing to do is to hire an Experienced E-commerce App Development Company.

At Phontinent Technologies, we provide various On-Demand Apps for our clients based in the USA, UAE, and India. We offer on-time delivery of projects at an affordable cost.

Also check: Top 8 Flutter App Development Tools to Use in 2021