Today’s customers have a wide range of options by which they can connect to the internet. This increased accessibility has resulted in the growth of mobile shopping, or m-commerce, which is described as the process through which customers purchase products and services through mobile devices.
In 2019 alone, mobile commerce amounted to $2 billion in sales on Cyber Monday and Black Friday. Mobile shopping is extremely simple; all customers need to go on your store’s website on their phone or go on your social media page and purchase like they usually would. Additionally, if your brand has an app, then your customers can quickly go on that to make a purchase.
Mobile e-commerce
It’s no secret that retail is on a downward trajectory, and the rise of eCommerce, and m-commerce, is to credit for this. Today’s brands need to adapt to changing trends and incorporate new technologies if they want to remain relevant. Offering mobile shopping opportunities is one of the trends that these brands can take advantage of.
So, what are the upsides and downsides of mobile shopping? Here’s what you need to know:
Accessibility
By allowing your customers to shop on their mobiles, you can make your product offering more accessible to your target audience. By ensuring your content is optimized for mobile, you can reach out to your target audience on the platform of their choice. You’re also increasing your brand awareness and reaching out to them on the device they use the most.
International audiences
Perhaps one of the best things about the internet is its ability for businesses to target global audiences. People from anywhere in the world can view your products and services, exponentially increasing your brand’s reach. This aspect is especially useful to small businesses located in rural areas who want exposure from urban areas.
Invaluable data
Reaching new audiences through m-commerce gives brands access to in-depth information about your target audience that wasn’t possible before. From buying habits to their demographics, you can gain insights into your audience and use it for more targeted marketing campaigns.
Business development and expansion
You can effectively use these new audiences to fuel your business expansion and development. You can effectively use the insights you get to explore new markets and test different areas of expansion for your business.
Data privacy concerns
Businesses have increased customer data giving them greater responsibility to protect this information. Consumers are concerned with how brands use their personal information; hence, data privacy is something you need to be careful about.
You need to ensure that your customers are secure by obtaining an SSL certificate or using credible payment gateways, such as PayPal. These measures go a long way to ensure your customers feel safe while they’re making purchases on your website.
International competition
While businesses today have access to more customers than ever before, they also face intense competition. With brands facing competition from across the globe, it can be extremely challenging for businesses to set themselves apart.
Shipping costs
People anywhere can now buy your products, and it’s your job to figure out how you’re going to get your products to them. You can offset this by offering a minimum order amount for free shopping, which can act as a driver for customers to continue shopping until they have enough in their shopping carts.
Conclusion
M-commerce is the next step for today’s brands, and it’s a vital growth opportunity that businesses must take advantage of to remain relevant. Despite its disadvantages, it’s the best way for brands to remain competitive in today’s highly competitive world.
