The mCommerce industry is evolving at a rate that has never been seen before. Marketers around the world have predicted that mCommerce will become the main channel for online shopping, and more than 79 percent of smartphone users in the US have made an online purchase using their mobile devices in the past 6 months.
According to a report, a retail business with annual revenue reaching up to $20 million could see a loss of $1.4 million in revenue by merely delaying their implementation of Progressive Web Apps for one month and another $6.8 million if they decide to wait for more than six months.
Mobile applications can offer a broad spectrum of benefits to the e-commerce journey than a responsive mobile website. This article will discuss the 5 reasons why you should invest in developing an eCommerce mobile application.
Even though most mobile applications are a replica of their existing website, more than 78 percent of consumers would access an online store from a mobile application than a mobile website.
So if you are an eCommerce business without a mobile application, you are neglecting the majority of your consumers, considering the fact that only 12 percent of the users find shopping on the mobile web convenient. Mobility, loading time, and personalized content, are some of the features that distinguish a mobile e-commerce application from a website.
Everyone loves to feel special, and mobile eCommerce applications are an excellent way to provide personalized content for your users. Around 40 percent of US consumers have said that they have bought something more expensive than they initially planned because their customer experience was personalized.
By analyzing your customer's past interactions and buying behavior, you can provide personalized recommendations with highly relevant products, which will enhance your customer experience and boost your conversion rates.
Retaining existing customers is essential as acquiring new ones. Loyal customers are a vital factor in business growth. One of the best ways to increase your brand loyalty is to implement a loyalty program in your mobile e-commerce application.
A customer loyalty program can help brands encourage their consumers to perform specific tasks, then later providing them with benefits like coupons or discount codes for their subsequent purchase. Providing incentives such as special deals, discounts, and anniversary coupons is a great way to increase your customer retention rate.
Mobile applications are a powerful marketing channel for eCommerce brands. It helps businesses connect with their audience and keep consumers engaged. Once a mobile application gets installed on a device, your users will come across your brand logo more frequently than ever, enhancing your visibility and awareness.
Moreover, features like push notifications can help your business to contact your consumers in an instant. Push notifications have the power to capture your consumers' attention and are a great way to launch a new product or a discount code that will compel them to your application.
Major brands across the world have started utilizing advanced technologies like AR/VR and artificial intelligence in their mobile applications to provide an enhanced user experience.
IKEA's augmented reality app, IKEA Place, now lets its customers see precisely how their furniture items would look and fit in their homes. This new feature takes their customer experience to a whole new level and provides a competitive advantage to their business.
Sephora's innovative mobile application provides a Virtual Artist, which uses facial recognition to allow their customers to try their beauty products digitally before purchasing.
If your eCommerce business doesn't have a mobile application then, it's time to develop one. Since customers are heavily reliant on digital devices now more than ever, m-commerce has all the potential to become a significant channel for shopping and change consumer behavior.
It's time to take the decision; otherwise, you will lose your competitive edge and customers because they won't hesitate to change their brand loyalty if they don't get what they deserve.