As of last year, 68.1% of all total website visits originated from mobile phones (compared to 63.3% in 2019). With a clear majority of entries coming from mobile phones, it’s easy to assume mobile commerce is on the rise — but why exactly are consumers choosing to make commercial transactions on their mobile devices?
The popularity of mobile commerce can be attributed to a number of benefits that consumers experience when using their phones for commercial transactions instead of other media channels such as computers. Consumer benefits can range from simple and practical matters of convenience to the very enjoyment that stems from the innovative experience that mobile platforms can offer.
Understanding the ways that consumers are able to benefit from mobile transaction methods can also help reveal the added benefits of how business owners too can profit in choosing to adapt to this new era of mobile commerce.
Here at Venipak, we would like to share with you the two main benefits of mobile commerce that drive consumer choice in using their mobile phones.
With mobile phone owners in 2021 amounting to 3.8 billion worldwide, billions of people now have online access straight from their pockets. There is no longer a need for individuals to walk up to a computer or pull out a laptop to start browsing.
In fact, it is predicted that by 2025, a shocking 72% of those using the internet will rely entirely on their mobile devices for access. Mobile commerce is therefore proving to be more convenient and valuable to consumers than ever.
Developing mobile technology has also added another layer of convenience. With larger screens now available for modern mobile phones, older users’ prior hesitation in using these devices for commercial transactions is diminishing. Fine text as a result of smaller devices is no longer a barrier, meaning the overall user experience is being improved for all ages.
Quick and easy wire transfers and checkout during online shopping further impact the decision of consumers using their mobile devices, as oftentimes single-click options are made readily available, with speedy payment options directly ahead.
A mobile phone comes with the ability to track user data. It is hands-down the most personalized electronic device that an individual can own, as it is constantly in use and contains the most relevant information on every user. Regardless of whether the data comes from one’s Google searches and hyperlink clicks or something as specific as social media activity, the personal data is plentiful on these devices.
Of course, it is important to note that the General Data Protection Regulation (or GDPR) in the EU provides data protection for all of its citizens. This gives mobile users the right to control what data they choose to share while browsing or shopping online and ensures that businesses collecting this data will keep it secure and prevent it from being accessed and exploited by third parties.
The benefit that comes from the modern phone’s ability to provide in-depth personal data on its user, however, is an increased level of personalization, giving each consumer an exclusive experience that caters to their particular needs and interests.
For example, this can be seen in the very products and services that are recommended to consumers as a result of their previous search history, or push notifications that are automatically generated to offer users discounts on their favorite items.
It is no wonder that personalized experience is massively favored by consumers. In fact, as many as 80% of frequent shoppers admit that they solely shop from brands that apply this quality to their businesses.
Why it Matters for Businesses
Adapting one’s business to mobile platforms becomes a must in the current year for business owners looking to expand their consumer reach and significantly increase sales — given that so many users (no matter their age) are switching to mobile modes of transaction. However, attracting more consumers is not simply a matter of choosing to switch to the mobile platform.
Businesses that particularly manage to grab the attention of consumers with an interesting and practical design for their mobile applications or websites are favored by the consumer due to their convenient and engaging nature. For instance, websites that have successfully adapted their UI to mobile platforms are less frequently abandoned by users due to issues of usability.
Being well-adaptive towards the mobile platform is crucial for businesses, as consumers will then become more likely to make purchases, return to websites, and view these modernized businesses positively. As a result, business owners will start to see a greater sense of brand loyalty emerge from their consumers.
Consumers themselves may benefit from the personalization that comes with mobile commerce (in that it makes their experience more enjoyable), yet businesses using this particular channel can benefit immensely due to the same consumer data they can now access (if and when granted the consent of the user).
Using this data, businesses can develop a better understanding of their target audience via analytics and offer consumers exactly what they want, ultimately reeling them (back) to their website and developing stronger brand loyalty.
There’s no denying that mobile commerce is on the rise. Consumers are already switching over to mobile forms for their transactions, benefiting them in ways that other platforms cannot.
What matters now, is that business owners not only choose to do the same; they choose to adapt their businesses to mobile platforms with a successful design strategy in mind, reaping the greatest benefits themselves.