Why Your Business Needs an E-Commerce Mobile App?
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Online shopping is more than just a luxury now; it’s a necessity for both businesses and consumers. As a business owner, you tend to go where your target market is, right?
In 2021, Americans spent an average of 4.1 hours a day on their mobile devices, more than the time they spent glued to their TV screens (which was 3.1 hours on average). But the real jaw-dropping fact is that consumers spent a staggering $170 billion on mobile apps in 2021.
Since the big screen is slowly dying, according to the CEO of App Annie, and mobile continues to break records in virtually every category, be it time spent, revenue, or downloads, the massive shift towards online shopping is not likely to reverse. People are now shopping online more than ever before, and this fact stands true across all industries.
Even as you read this blog, your company is missing out on possible conversions if you are still not leveraging mobile traffic.
You may be wondering why you would also need an eCommerce mobile app if your company already has a website. True, creating a responsive website is a great approach to beginning your eCommerce adventure and building your company’s online presence. But compared to a website, having an eCommerce mobile application has many benefits.
In this rundown, we’ll discuss how having an eCommerce mobile application will help your brand stay relevant now and in the longer run.
mCommerce Is on the Rise
mCommerce, or mobile commerce, is a subset of eCommerce that focuses on shopping through mobile devices (typically a smartphone).
Mobile-driven sales have completely taken over the eCommerce market. If you go through your sales metrics and take a look at the devices your customers are using to make a purchase, you’ll be surprised to know that a major chunk of consumers prefers online buying using smartphones and tablets.
According to Insider Intelligence, m-commerce volume is projected to hit $620.97 billion by 2024, which makes up 42.8% of eCommerce. This ongoing m-commerce revolution is mainly driven by two key devices: smartphones and tablets.
According to research conducted by Dynamic Yield, 76% of consumers state they shop using mobile devices since it saves them time. Because mobile devices provide a convenient and seamless shopping experience, more and more people are gravitating towards online buying using smartphones. Considerable consumer protections have been built into eCommerce mobile apps to make the transfer of funds more seamless.
The idea behind mobile eCommerce is to eliminate digital friction by letting consumers shop from anywhere and anytime without worrying about distance, time, commuting, or delivery. According to the 2020 Worldpay Global Payments Report, the share of transactions that come from mobile wallets is expected to amount to over 50% by 2023. Eventually, the combined use of debit and credit cards is forecasted to dramatically fall below 30% in the years to come.
We deduce one simple perspective out of all the given facts and figures: mobile sales are dominating the eCommerce landscape.
Gain Competitive Advantage through eCommerce Mobile App
We understand there’s a fair chance that you must be content with the ROI your business manages to hoard through your mobile website. This could be why you still haven’t thought about why your business needs an eCommerce mobile application in the long run.
But here’s the thing – given the number and trends that indicate customers’ inclination towards m-commerce applications, it’s just a matter of time till the tide changes, dropping the number of website visitors in the near future.
Consumers generally don’t prefer browsing through varied sites. If they’re torn between your website and your competitor’s, your mobile app will make them lean towards buying from you. You can encourage your customers to use your products and services and, in return, offer them attractive discounts. This builds brand loyalty and awareness. A well-planned system of customized product recommendations translates into sales. It also encourages customers to spend more money. We’ll talk more about loyalty programs and personalization in the next section.
By getting in early and establishing yourself as an industry leader, you’d have the advantage over your competitors who are late to the party.
Offer a Personalized Shopping Experience
Personalization is a must-have ingredient for a successful eCommerce business. Modern-day customers expect a highly personalized experience throughout their journey with a brand. And you cannot achieve this by only having a website for your eCommerce business.
Yes, you might already be deploying these tactics on your website to drive sales. For instance, when a customer visits your website, you can personalize the homepage and the products they see based on their location. If you run a clothing business, a customer from Vermont wouldn’t be seeing summery tops and bathing suits, but a customer from Florida would.
However, an eCommerce mobile application takes personalization to the next level by giving you access to the user’s browsing and purchase history and offering them custom recommendations. You can do that with a website too, but that depends on the customer always being logged in.
By incorporating them into your eCommerce mobile app, you can also take use of cutting-edge technical developments like artificial intelligence, machine learning, augmented reality, and virtual reality. This will allow you to gather insights about your users, such as:
- What do they prefer?
- What part of the day are they actively making a purchase?
- How long do they take before actually making a purchase?
Once you get your hands on all this information, you can offer your customers a more personalized shopping experience to drive more sales.
Higher Conversion Rates
Talking about a successful business eventually comes down to the one that ‘garners more revenue’. And there’s no doubt that eCommerce mobile apps drive higher conversion rates and higher ROI.
Using a mobile application, a customer might decide they want more than what they initially came looking for. On average, mobile apps have a conversion rate of 157% as compared to web conversions. So, there’s your answer: your eCommerce business needs a mobile application to achieve better conversion rates.
While making a purchase, customers look for a seamless experience that can only be achieved by driving sales through a mobile application. Here’s why:
- Mobile apps have features like push notifications that help convert more visitors. Around 70% of consumers believe push notifications are useful, while 40% of users engage with notifications within an hour of receiving them. These also drive a 7X higher engagement rate than email engagement.
- Mobile apps make checkouts quicker and easier by saving all the payment, billing, and shipping information.
- Mobile wallet apps can be integrated with your eCommerce mobile app to make checkouts more convenient.
- When placing an order, mobile apps can make use of tools like the camera and GPS.
Altogether, eCommerce mobile apps make purchases and checkouts quicker and more convenient by minimizing the amount of information users are required to enter to complete the checkout process.
Reduce Cart Abandonment Rate
Let’s say you’re successfully running an online store. You’ve got a well-organized inventory, healthy traffic, and your customers obsess over your products. Is that sufficient for your business to thrive?
Not necessarily. You could still be losing a huge number of sales. But how?
Through shopping cart abandonment (an absolute bummer!). Shopping cart abandonment is when a potential buyer is only a click or two away from completing the checkout but drops the process before completing the purchase.
Around 88% of online shopping carts are abandoned before checkout. This implies that the sales you manage to bring in might only be one-tenth of what they could actually be.
So, what goes wrong?
It is one thing to convince your customers to add items to their cart, and another to successfully lead them through the checkout. Among the numerous ways to combat this issue, a significant way to avoid losing sales in the future is by creating an eCommerce mobile app.
Mobile apps reduce friction in the checkout process and have comparatively lower cart abandonment rates, thanks to the simplified checkout process. Customers using an eCommerce mobile app won’t have to manually enter their personal, shipping, and payment information every time they make a purchase. Their preferences and information are stored in the system, and purchases can be completed in just a few clicks.
Wrapping It Up
The data-driven facts and reasons in this rundown speak for themselves – from higher conversion rates to customer retention to reducing cart abandonment rates and so forth, mobile eCommerce does it all for you.
It’s time to go mobile, and there couldn’t be a better time to invest in your mobile marketing future than when the world is in the process of a mass exodus to a digital, interactive, and more personalized space.
A mobile application is a boon for your eCommerce business because it will help you connect with your target market, have a stronger clientele with higher revenue, and increase the overall profitability of your business.
Are you interested in shaping the future of your eCommerce business through a stellar mobile application? Take a look at our essential checklist to build an eCommerce application that is tailored to your retail business requirements. If you need any further assistance, reach out to us for a free consultation.
At CitrusBits, we’ve designed and developed award-winning apps for dozens of businesses, and we’d love the opportunity to do the same for you.