Consumers have preferred online shopping owing to the increase in internet accessibility, ease of transaction, plenty of products, and personalized offers. However, to keep up with the changing digital landscape, eCommerce giants saw an opportunity as soon as the iPhone hit the market. These were stronger mobile phones with larger screens and higher bandwidth. As a result, eCommerce companies spread their wings to new digital channels and mCommerce took its first flight. But many people are still unaware of what mCommerce is and how it is impacting the commerce sector?
Well, mCommerce is nothing but short for mobile commerce, it refers to any commercial transactions that take place via apps or mobile sites.
The impact of mCommerce is gigantic after a global pandemic, as consumers prefer the ease of accessibility while shopping online. According to a survey, retail mCommerce sales have skyrocketed to $359.32 billion in 2021, a growth of a whopping 15.2% since 2020. Moreover, it is projected that mCommerce sales could double for 44.2% of retail eCommerce sales in the US.
Advantages of mCommerce
The stakes are high for mCommerce, as consumers are exposed to new features, products, and sparkly “must-haves”. The reason for an increase in popularity of mCommerce over the years would point to the following features:
- With portable technology, customers can access online product catalogs on the go. They can place orders, hire services or pay dues anywhere at any time.
- Location-based personalization, this type of personalization is different from web personalization as it identifies the immediate need of the customer. For instance, businesses can analyze the customer’s usual trip and send push notifications based on the location, preference, and immediate need.
There is more scope in presenting customized information on a small screen. As consumers are able to enter a lot more data as opposed to their web counterparts. As a result, the next challenge for owners would be to find ways to understand customer behavior so as to cater to their specific needs.
How Does mCommerce Benefit from Analytics?
The intention of identifying the mCommerce customer base helps gain insight into their specific preferences. Aids marketers by showcasing pain points to attract and engage potential customers. Lastly, the marketers could evaluate customer value and plan ahead for retaining customers. Here, we will be showcasing how analytics plays a crucial part in discovering mCommerce customer insights and personalization.
- Better Customer Engagement Through Personalization
Mobile provides additional functionalities to know your customers for instance the device can track the current location and the usual trip the customer takes in the course of time. The app data like demographic information, shopping history, and customer shopping patterns could help in developing personalized offers and discounts.
As a next step, marketers can segment the customers into groups based on their buyer’s journey. Finally, the segmented groups are analyzed with predictive analytics. Marketing analysts examine the predictions to recommend further courses of action. For instance, they can even identify the ‘most profitable’ segments and target them accordingly based on historical consumer behavior. If this process provides good results, they automate it and continue winning prospects and retaining the old ones.
As we head to the future, mCommerce could not just include your phone or tablet, but watch, car displays, even fashion accessories, and the clothes you wear. The rise of wearables could have a profound effect on mobile marketing overall. Imagine, how the new devices by their nature, provide in-depth data about consumers.
One of the goals of Mcommerce customer analysis is to proliferate customer engagement and to build stronger customer loyalty. With a mobile app, your digital enterprise is always visible on your consumer’s mobile screen as an icon. Likewise, you can bring your customers back to your app by using personalized push notifications, loyalty rewards, and more.
