Mobile apps have revolutionized the retail industry, providing customers with a whole new level of convenience. Customers can browse product catalogs, compare prices, and receive personalized recommendations by shopping from anywhere and at any time. Retailers can also track customer behavior and preferences, allowing for more personalized services. Because of these features, mobile apps have become an essential component of the retail industry, providing an efficient platform for both customers and retailers to interact.
Top Mobile Commerce Activities
Mobile commerce is one of the most popular activities in the digital world today. It has revolutionized the way we shop and pay for products and services. With its convenience and ease of use, it has become an integral part of our lives. In this article, we will explore some of the top mobile commerce activities that are making waves in the industry. From online shopping to payment processing, we will discuss how these activities are transforming e-commerce and making life easier for customers everywhere. We’ll also look at some use cases that demonstrate how mobile commerce can be used to increase sales and improve customer experience.
Continuous User Increment: Fueling the Evolution
Research suggests that a typical global internet user uses the internet almost 7 hours per day (Source: GWI). Moreover, the number of global mobile users is expected to grow to 7.49 billion by 2025 from 5.31 billion (Source: Statista).
More than two-thirds of the world’s population is using a mobile phone currently, which makes it inevitable for mobile applications to thrive.
The Rise in Mobile Commerce Market Revenues
With the continuous increase in mobile users globally the sales and market revenues are also increasing year by year. Consumers are spending and making purchases from every possible industry from clothing, furniture, electronics to even groceries now. A prediction stated the global retail mCommerce sales are expected to cross an approximate figure of $4.5 trillion by 2024, which makes it 69.9% of the total retail sales globally (Source: InsiderIntelligence).
The increase in shopping & sales revenue directly impacts on the mobile payments market as well. Along with making the retail applications smooth and hassle-free, some apps have also introduced their own payment related features such as coupons, wallets, points and virtual money. The mobile payments market is expected to grow to $11.83 trillion by 2028 from $1.97 trillion back in 2021 with a CAGR of 29.1% (Source: FortuneBusinessInsights).
Benefits of a Retail Application for all Businesses
The internet has become a powerful tool, mobile retail applications belonging to small businesses can advertise their products and generate sales remotely even from one corner of the world to the other. Moreover, they can reach an increased number of users every day with the increasing number of mobile users globally.
When a business generates sales through an application the numbers can be recorded and analyzed for the betterment of the business in numerous ways. Once the business has discovered its target audience it becomes really important to understand what they are keen on spending their money. The retail mobile application can strategically analyze the numbers through the recorded sales data and suggest inputs for the upcoming stock, purchase patterns, pricing and a lot more.
With a mobile application, the number of operating hours can never be a challenge. A store that is never closed will always generate more sales than just a physical store. Consumers can simply open the application, order what they want and pick it up the next day or simply get it delivered. This can enable business functionality 24 hours a day, 7 days a week and 365 days a year.
Smooth & Hassle-Free Interface
An application with all the necessary features is always better than an overloaded & buggy eCommerce website. Imagine a website crashing after a consumer added all the items to their shopping cart to purchase, the possibility of the order being placed dropped drastically.
Exciting features can be added to the mobile application easily. Once the preferences have been set and payment information has been added to the application, the consumers can easily make purchases in one-click and the order will be placed successfully. This feature can save a lot of time and generate sales much faster.
How can Veltris Help You?
We help businesses across the globe to go digital and have extensive knowledge and experience in developing web applications and mobile applications. Our integrated approach leverages mobile analytics and security to help customers understand usage patterns and adapt the mobile app according to user feedback.
Find out whether a retail mobile application can help your business? Reach out to us at email@example.com to know more.