What is Mobile Commerce?
Mobile commerce, or m-commerce, involves purchasing and selling goods and services using a mobile device such as tablets, iPads, and smartphones. It allows consumers to make transactions anytime, anywhere, offering a convenient eCommerce shopping experience that blends mobile technology with digital retail.
How Does Mobile Commerce Work?
Mobile commerce works via mobile-friendly websites and specialised apps designed to support online transactions. Users can browse products, add to cart, and complete purchases using secure payment gateways. Technologies like mobile wallets, QR codes, and near-field communication (NFC) enhance the convenience and speed of these transactions.
What Percentage of eCommerce is Mobile?
According to Statista’s Market Insights, mobile eCommerce sales hit $2.2 trillion in 2023, accounting for 60% of global eCommerce revenue. The share of mobile eCommerce has been steadily increasing, rising from 56% in 2018 and projected to reach 62% by 2027.
Advantages of Mobile Commerce
Mobile commerce offers multiple advantages:
- Convenience: Shoppers can use mobile devices to quickly access their favourite retail stores, easily compare prices and reviews, and shop from anywhere, anytime.
- Enhanced Engagement: The ability to provide push notifications, offers and real-time updates enable businesses to engage with their customers via mobile apps
- Faster Transactions: With the growth of mobile apps, many retailers offer one-click payment with Apple Pay, Google Pay and Visa Checkout options to speed up purchases.
- Personalisation: Mobile apps can collect and analyse data such as browsing habits, purchase history and location. Retailers can then offer personalised recommendations which can improve conversions, drive sales and improve customer loyalty.
Disadvantages of Mobile Commerce
While mobile commerce offers many benefits, it also has challenges:
- Security Risks: Mobile transactions can be vulnerable to security breaches and data theft. Additional security on payments such as two-factor authentication helps reduce this.
- Technical Issues: Poor connectivity especially in rural areas can affect the user experience.
- Customer interaction: The smaller screens of mobile phones and tablets require specific navigation functionality. Important product details are often buried ‘below the fold’. The use of attribute messaging is an important solution to highlight different product attributes that make it easier for shoppers to make decisions and add to bag faster.
Addressing these issues is essential for delivering a reliable mobile shopping experience.
Why choose Taggstar to boost and transform your mobile commerce conversions
Taggstar revolutionises mobile commerce conversions by injecting dynamic, real-time social proof into the customer journey. Powered by machine learning, the Taggstar platform offers scalable real-time social proof solutions, including social proof messaging, and attribute messaging.
Join the growing list of leading global brands & retailers that trust Taggstar to elevate their shopping experiences and drive significant sales lift. Get started today.
