The Future is Mobile: M-commerce trends for 2016
Smart phones are all over the place and shoppers are going mobile, and this is what keeps developers on their toes to constantly update m-commerce technology. Needless to say, online marketers are keeping their eyes open for the latest advancements in m-commerce.
What the Numbers Say
2015 has seen a huge development in m-commerce, with more and more consumers preferring mobile phones for browsing, shopping, and cash transaction purposes. And why shouldn’t they? After all, mobile is convenient, safe and fast.
Multi-billion dollar companies in the ecommerce space are going mobile-only since most of the customers are making purchases through mobile phones. As per the latest report by the investment bank, The Goldman Sachs Group, Inc., the global M-commerce sales is expected to touch an amazing $626 billion in 2018. India's ecommerce market is predicted to breach the $100-billion mark by FY20, bolstered by a tremendous rise in internet usage, discounting and huge investment by online retailers, says the report. With the massive growth in m-commerce across the globe, online retailers are more focused towards providing a convenient m-commerce experience for customers.
Here are a few expected m-commerce trends for 2016:
Greater mobile marketing budget: Isn’t that obvious? Every year, more and more people buy smart phones, and by 2016 mobile phones will gain greater access in even the remotest regions in the world. So, ultimately, mobile marketing will be grabbing the limelight among other marketing areas. When compared to the previous years, a good proportion of the marketing budget will focus on mobile marketing next year.
Quicker mobile transactions to different hardware: We, as consumers, are very greedy! We want faster and quicker service and our loyalty immediately shifts towards the best service provider. 2016 will see some new efforts being made to ensure quicker transactions through mobile phones. New mobile payment methods – involving a synergy between hardware and software - have been developed to ensure seamless transactions in stores and online. From next year onwards, you might be able to make payments at petrol bunks and grocery stores through your mobile phones without having to wait in long queues!
Omni-channeling: Omni-channeling is all about following customers through every channel. And there's no better way to ensure a purchase. Omni-channeling delivers a personalized experience for individual customers. In 2016, companies will be investing more time developing omni-channeling strategies for m-commerce.
More purchase through mobile apps: Mobile apps, as you might know, use up less data and you can make purchases even more swiftly than through a mobile website. A good number of online retailers in India are yet to acknowledge and embrace apps. However, considering the greater functionality that they provide, we will see a significant increase in the number of online retailers using mobile apps next year.
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References
Expected M-Commerce Trends in 2016
India's ecommerce market to breach $100 billion mark by FY20: Goldman Sachs
