What is m-Commerce?
m-Commerce is the buying and selling of goods and services through wireless handheld devices (phones and tablets mainly). A form of e-Commerce that allows customers to access online shopping platforms without the use of a desktop.
What does m-Commerce entail?
m-Commerce doesn’t just mean mobile search or mobile transactions. It means a lot more. It’s how mobile devices are used to find new customers, keep existing customers, and streamlining customer experience. Examples include:
- Boarding tickets stored in e-wallets
- Apps
- Location-based marketing
- Money transfers
- Contactless payments
- 1-click mobile payment solutions like Apple pay and GPay
- Mobile banking
Mobile transactions
From 2017 to 2019 the number of consumers making purchases via mobile commerce increased by 2.2 million, from 6.1 million to 8.3 million.
Consumers are reliant on digital devices now more than ever, and it is predicted that m-Commerce will be consumers’ most preferred channel in the near future.
Many online retailers have introduced ‘one-click checkout’ options now, making purchases time after time without having to re-enter payment details.
Social media sites such as Facebook, Instagram, Pinterest and Twitter let shoppers make purchases without leaving the platform, through channels such as Instagram Shop and Facebook Marketplace.
There are a multitude of one-click-pay options now including Apple pay, Samsung Pay, Paypal, and more, being rolled out every month.
Mobile payment is expected to replace credit and debit cards after decades of being the preferred method. As mobile payment has the advantages of being quick, wireless, and effortless.
Mobile marketing
Sky Media has just launched an m-Commerce campaign, called “shoppable ads” which focuses on television ads that will feature QR codes, allowing consumers to scan the code and access the website straight from their phone.
“As the pace of m-Commerce innovation quickens, we’re able to leverage dual screening behaviours to capture attention and supercharge immediate, measurable response,” says Sky Media’s director of products and advertising innovation Dan Cohen.
Sky has stated they feel QR codes are now much more commonly used since the NHS started using them for the track and trace system. And they claim that the Shoppable Ads concept will deliver a smooth and simple pathway from a television screen to a brand’s homepage.
“At Sky Media, we’re pleased to be leading the industry in this space as the only broadcaster that is able to link sales directly with our viewing data.”
The future
m-Commerce is expected to overtake debit card payments in the next few years as one of the most preferred payment methods, the share of m-Commerce in all e-Commerce is expected to rise to 72.9% by the end of the year.
There are 7 trends that will help to shape the future of m-Commerce including AR, Voice Search, Chatbots, Omnichannel, Mobile-in-store checkouts, site speed, and social commerce. All of these trends have seen a huge growth in recent years which is expected to continue as technology advances.
If there’s one thing we know for sure, it’s that mobile e-Commerce is going to continue growing in 2021, attracting more users and generating more sales. With global m-Commerce revenue expected to reach $3.56 trillion – with an average y-o-y rate of 33.8%. The vast majority of retailers have already built a dedicated mobile application or are planning to do it.
At Sierra Six Media we have a multitude of e-Commerce clients we work with on their m-Commerce strategy, notably, we have taken one client from generating £28,000 per month to £268,000 per month. Find out how to optimise your online store for m-Commerce by getting in touch with us today.
Alice Baker, Digital Marketing Executive, Sierra Six Media
