Those with a smartphone are more and more frequently reaching out to their phones for purchasing things using mobile apps. Not only apps are convenient to use, they also save time and help in comparing prices and choosing the best deal. With the rise of mCommerce, mobile apps are becoming a must. Recent studies have shown that smartphone sales account for nearly 17% of the total ecommerce sales. This figure is expected to rise to nearly 40% and above in the near future,. The total percentage of mobile traffic is rising exponentially and expected to have the lion’s share by this year end.
Are the retailers ready?
The question that follows is, with the knowledge and expectation of rising mCommerce sales; are retailers mobile ready? According to a report by Forrester, nearly 71% of online retailers are NOT mobile ready. They do not have apps to support their sales and therefore are unable to cash on mobile app sales, therefore are not able to capture a piece of the exploding mCommerce market.
Are the mobile apps which are currently available ready for future?
There are some online retailers who do have mobile apps and are ready for the mobile app sales and the expected increase. However, most of the mobile apps may be deemed redundant and may not be able to keep pace with the fast evolution that technology is facing. Innovation is the name of the game and most of the mobile apps currently in the market fail to make the cut. Scalability as well as flexibility are what are required to ensure that the retailers who launch new apps or update existing ones are in the run to capture a market share.
The need for mobile commerce and engagement platforms
Keeping this in mind, what is important is the need for innovative mobile commerce and engagement platforms. To this end, Forrester has identified four core competency traits. Let us understand these traits:
1. The best mobile commerce and engagement platform live and breathe mobile technology. They are constantly adapting themselves to changing user demands. They are well aware of what works and what doesn’t in the market.
2. These mobile App developers do not make custom-built platforms for each client according to their individual needs. They bring all their clients onto a common SaaS based platform.
3. The best vendors adapt their platforms to new OS capabilities, new device categories and emerging mobile development standards.
4. The most competent mobile App developers have a readymade portfolio of prebuilt commerce modules for all common and special scenarios. There is no need to keep reinventing the wheel.
Benefits of using mobile apps
In a nutshell, if you are an online retailer and hope to capture a share of the mCommerce sales then having a flexible, scalable, convenient, innovation and user-friendly mobile app is a must.
The benefits of these apps are:
Mobile apps ensure that there is a direct and transparent connection between the seller and the buyer. This transparency is helpful to both the parties and reduce the needless chaos that can occur due to its absence.
There is nothing more comfortable that being able to purchase what you want, when you want it. Mobile apps and their role in mCommerce is important because they allow the buyer to purchase products and services with just a few clicks. The seller benefits because the transaction is completed as easily.
Mobile apps mean that the transactions are not only easy, they are also faster. Faster transactions means more transactions can happen while will increase the revenue manifold.
- Effective Communication
The communication is much easier, quicker and transparent with the increasing use of mobile apps.
- Market Awareness
With market awareness, retailers are aware of what works and what doesn’t and are able to structure their business plans in a similar manner. They can note the trends, tastes and preferences of the buyers and use the knowledge to maximize sales.