How Your Business Can Profit From Current E-Commerce Growth
According to a 2016 Mobile 500 report, mobile commerce has reached 30% of overall e-commerce and is expected to continue to grow at an exponential rate. The average mobile user requires engaging and value-added experiences, and with the explosion of available mobile options, consumers are becoming more discerning — and demanding — than ever before.
To stay competitive, mobile retailers need to leverage non-traditional sales approaches such as Manufacturer to Consumer (M2C) and fast fashion tactics to deliver a different experience. The entire industry is developing rapidly and mobile e-commerce provides a platform for this type of innovation, which provides consumer savings, all from the screen of their smartphone.
Recent studies by Flurry Analytics show that nearly 90% of all mobile consumer use is spent in applications. This conveniently places mobile retailers in the same space that consumers already spend most of their time.
Mobile experiences are more engaging
According to experts, these numbers will change the future of e-commerce. Toronto’s Clearbridge Mobile, who were recently named one of Canada’s Top New Growth Companies on the Startup 50 list, published by Canadian Business and PROFIT magazine, tells us that in 2015, social application use went from 45 minutes of use per day to 68 minutes of use per day per user, which means that mobile shopping experiences now allow for a greater degree of social commitment. In addition, they offer retailers the opportunity to test pricing and sales models with minimal impact on time and resources.
According to the top mobile app development companies in Toronto, Design and UX are essential aspects of the mobile e-commerce push since people like to use applications because each has its own unique features, unlike websites, which generally follow an industry standard. The Adobe Mobile Consumer report indicates that most consumers will only give an application a chance once or twice before turning their backs forever. If the application does not meet their needs in this testing phase, they go to another brand. Large retailers have often found it difficult to create quality application experiences, relying on the loyalty of existing customers.
How mobile growth is booming
There has been a steady growth in mobile e-commerce , as people become more confident with their mobile shopping experiences. However, for many retail applications, customer conversion rates remain low. Customers have moved from personal computers to mobile phones and now have a whole new set of expectations. Many mobile retail applications are developed without a close scrutiny of the user experience or adequate security, and therefore contain a number of path-to-purchase barriers. Common mistakes in developing retail applications often discourage users from completing a purchase. So how can you turn your mobile users into customers through your retail application? According to Clearbridge, you need to optimize the user experience.
As you continue to grow and develop your mobile app presence, you need to remember that partnership pays. By teaming up with an agile, end-to-end app development team, you can begin to break barriers to customer engagement. It is important to make a good impression within the first five seconds of the user experience to avoid the high risk of losing customers after initial UX impressions. If your users connect to your retail application and are disappointed with the initial impression, the application will be rejected and you will lose customers for retailers who have a better e-commerce strategy. The right mobile app developer can help you ensure that your UX promises a good first impression as it will set the user’s expectations for the rest of the checkout process. If your initial impression is credible and trustworthy, your users will become repeat customers, in turn, meeting the goals of your organization.