11 Ways M-Commerce Apps Will Boost your Retail Business
Mobile apps used to be a fancy thing with Amazon or Instagram before 3-4 years. However, today, they are not a fancy thing anymore. Moreover, with emerging technologies and smartphones, mobile applications have taken a remarkable rise in various sectors. As various mobile services are available on the market today, the mobile app development cost has dropped down.
With the increasing competition to survive and retain the customer base, businesses have stepped in to adopt applications. Besides, markets and the digital world are quite dynamic today. A majority of people prefers shopping with a smartphone rather than going physically to shops. The use of mobile apps is all about user convenience and experience. Therefore, Mobile Commerce is the next generation of E-Commerce.
Businesses, small or large now, find mobile apps to be a useful tool to market their brand and attract new customers while retaining their loyal ones.
According to Statista, “This statistic presents the projected global m-commerce transaction value from 2014 to 2019. According to the source, worldwide mobile commerce revenues amounted to 96.34 billion U.S. dollars in 2015 and are set to surpass 693 billion U.S. dollars in 2019.”
What is M-Commerce?
M-Commerce is also known as Mobile Commerce. It refers to conducting business transactions through mobile devices or smartphones over a wireless internet connection.
What is the Role of M-Commerce in the Growth & Development of Retail Business?
Mobile devices have become common, and people spend more of their time on smartphones than on desktops or tablets. With the rising applications in the tech world, M-Commerce is likely to develop as a leading practice of marketing and selling among businesses.
Top 11 Benefits M-Commerce Apps offer to Retail Business
1. Faster Purchases
Today, many websites have mobile versions. But, apps are 1.5 times faster when it comes to loading data and search results on smartphones. With applications, there is no need to fetch data from a server, and therefore, customers are able to browse and make purchases faster. Mobile apps offer the same functionality as desktop apps. Therefore, people can buy products directly within an application.
2. Offers Easy Store Access
Today, everyone leads a hectic life. Think if you have to go to the store physically when you are burdened with office schedules. But, with useful mobile applications, your tasks have become easier, and you do not have to travel to the store, but simply order products online.
Mobile apps not only make shopping easier and convenient, but it also improves the shopping experience.
3. Attracts New Customers
Mobile applications have become popular with people due to their numerous benefits. Therefore, if you have your business app, then it has the potential to attract new customers.
Due to the increased use of mobile devices and apps, mobile searches are one of the major ways that customers will find your site. Therefore, if your site is fully optimized, then it is more likely to bring more business.
4. Mobile Payment Benefits to Both Customers & Retailers
Today, people love doing everything over their smartphones through different applications. If they choose to shop online, then surely, they will prefer paying through one such application. It means, as a retailer, your E-Commerce site should be compatible with one or more mobile payment platforms such as Google Wallet, PayPal, Square, or others. It will help your customers to have a convenient means of payment, thereby increasing the number of purchases for you.
Moreover, it is significant to consider how your consumers interact with your website when you plan to develop mobile payment options. Mostly, people hate to enter numbers of their cards for making payments. Therefore, a few companies have come with apps that directly scan their consumers’ cards for the payment procedure. You can come up with an application accordingly.
Knowing the physical location of the user at a specific time increases the value of Mobile Commerce. When you have the information about the user’s location, you can provide a lot of location-based applications. For example, you can quickly notify the user about his/her friends who are nearby via mobile services. Moreover, such a mobile service can also help them have the direction to the nearest restaurant or ATM for instance.
People majorly use their mobile devices to find all sorts of information from the internet through various applications. However, the relevance of data is more significant.
Typically solo individuals use different mobile devices. Therefore, different mobile devices often require different sets of services and apps. Thus, you can personalize Mobile Commerce services and applications to offer information or perform services competently to specific users.
7. Better Data
Mobile Commerce apps help brands to have more helpful consumer data, as it is an integral part of the purchase process. Usually, in a traditional retail setting, the customer travels to the store, buys a product, and leaves. In such a situation, it gives a little insight as to why they made the purchase.
However, with M-Commerce applications, brands can connect with their customers from the moment of inquiry all the way through the purchase. As a result, businesses get access to valuable hints of purchase intent.
Businesses have a lot of operations and transactions to perform, which requires their valuable time to invest. However, it becomes difficult for them to keep a balance among different processes without precise information on this relevance.
With M-Commerce apps, brands are adequately able to scale everything from inventory to marketing. Mobile apps have made it easier for them to get the required information related to a particular process or operation. For example, they can increase their mobile app marketing when consumer interest hikes and downscale when it decreases.
9. Global Reach
As people, today, own their smartphones, it becomes easier for brands to reach their customers globally. Moreover, M-Commerce apps allow retail businesses to enter markets they have never considered before. The large user base offers a lot of potential sales leads for brands.
Mobile Commerce apps have made it possible for customers to reach different brands and vice-versa.
10. Efficient Analytics
As a business owner, it is crucial for you to know your customers and their demands. When you offer them your Mobile Commerce app, you can create and set user analytics of various levels to truly understand your target audience. It will help you increase your sales.
When you have your M-Commerce app, you can effectively use mobile, online, and sales data to deliver better customer experiences. You can fetch rich customer data, shopping patterns & behavior, and trends from your mobile app. These details can help you make more reliable forecasts about your consumers to anticipate their needs more effectively.
11. Cost Reduction & Productivity
With your M-Commerce app, you can easily and faster reach your audience. As a result, you can effectively cut down your marketing campaign costs. Moreover, if the app has social media integration, then users will also be able to take part in spreading the word about your brand. Later, you can even earn from placing ads within your application.
From the above-mentioned benefits, it is clear that M-Commerce apps are on the rise. In the competitive market, retail businesses have come forward with their applications to enhance their customer experience.
Therefore, if you still, do not have your business app, then it is the right time to have one. At Credencys, we aim at helping enterprises and startups to achieve high performance by offering the most promising software solutions in the form of robust applications. Our team of highly skilled Android and iPhone developers are dedicated to supporting our invaluable clients at every stage of their project development.