The launch of Google Play and App Store in 2008 has heartily expanded mobile business opportunities. Already in the first quarter of this year, almost 4.5 million apps were registered in the stocks of the two most popular mobile marketplaces. A ton of those apps is successfully used by business owners allowing for more in-depth customer audience reach and coverage of new sales horizons.
Let’s go through the main reasons why you should create your own dedicated mobile commerce application for business benefits.
Top-5 Reasons to Implement a Mobile Ecommerce App
In the modern world, truly successful projects simply can’t make it with only a dedicated website. After reviewing the latest trends, you will understand why a business of the current realities definitely needs eCommerce mobile apps. Among the main reasons, we’d highlight the following five points.
Dashing growth of popularity
The fact that mobile gadgets of all sorts are hugely widespread and constantly used by people all over the world makes the related market fruitful and buzzing. Up to date, almost 70% of online purchases are made via mobile devices. At the same time, forecasts of the gross income development in the segment in 2021 are estimated at almost 3.5 trillion US dollars.
Since the growth rate is about 3% annually, the main opportunity for a business not to miss a share of profits is to create its own mobile eCommerce platform. People are very well accustomed to making mobile purchases nowadays because it’s much more convenient and practical compared to using your PC. A phone or a tablet is always in reach, and as if that argument doesn’t say it all, there’s more.
The main advantages of mobile are speed and convenience. On top of that, an app will always provide the best shopping experience through an optimized interface. Don’t ignore these facts in order not to miss out on significant profits.
High conversion rates
All efforts should bring a real result, which defines your income in the future. Let’s consider the difference in usual conversion rates between a website and a mobile eCommerce app.
Do we need any comments here? Mobile wins a crushing victory. A regular app converts 130% better than a website. At the same time, the number of viewed products is almost three times higher and adding an item to the cart almost doubles the indicators.
Bigger average check
Stimulating more purchases, including related products, selling more expensive offers, together with a higher number of mobile views can take your profit margins to a new level.
Measly ten extra dollars per transaction will bring the business an additional $10,000 for every 1,000 transactions. Mobile commerce helps ultimately increase an average check of your usual website by making more room for spontaneous purchases.
Lower bounce rates
Another important KPI that requires close attention. What could stop the buyer when he/she is literally a couple of clicks away from making a deal? Let’s consider the main reasons by percentage:
- shipping and fees – 60%;
- mandatory authorization/registration – 37%;
- complicated ordering process – 28%;
- lags and errors – 20%;
- concern about the security of payment data – 19%.
An eCommerce mobile app can help you efficiently solve almost all these issues. The capabilities of Apple and Google pay, Pay Pal and other alternative payment methods greatly simplify and protect payment processes, and storing data in the application’s memory eliminates the need for permanent authorization. In addition, a well-executed solution can significantly increase the speed of data processing as a whole.
The main thing to remember is that the more steps a user has to take to place an order, the higher the chance of them refusing to complete the purchase.
Great retention opportunities
Attracting new customers costs a business 25 times more than working with the existing ones. An increase in customer retention by at least 5% allows you to boost your profit margin by at least a quarter. In addition, 38% of users return to the application 11 or more times after the initial download. Each such visit can turn into a sale for the business.
A user doesn’t seem to return to your solution for a long time? No big deal. Push notifications is the top-notch tool of reminding users about your brand most unobtrusively.
New Possibilities from Implementing eCommerce Mobile Apps
Despite the fact that mobile eCommerce platforms are almost identical to the regular website, they are more optimized for quick user access, which provides additional convenience when shopping. Let’s consider what new horizons for business the world of mobile commerce can open.
Users get to freely complete orders wherever they may be at the moment – waiting for a friend, having lunch or a walk in the park, far from their home PCs. Leafing through the list of goods out of boredom, the user can order the thing he/she likes on impulse.
Never neglect the email newsletter, but keep in mind that it is three times less effective than the above-mentioned push notifications – only 20% of emails tend to be opened by users whereas the rate of impact of push notifications reaches 60%.
Moreover, constant reminders about your products and brand name as a whole will help to significantly boost brand awareness, which brings even more profits.
Analysis and personalization
He/she who owns the information owns the world. The more data a business has, the better it will be able to build its policy, segment users, set up targeted advertising, and conduct promotions more successfully. Plus, don’t forget about customer loyalty.
Almost twice as many customers make purchases on the resources that offer loyalty programs, and the presence of a mobile application will contribute to a higher level of engagement in comparison with the site.
AR – augmented virtual reality is a great use case. With the help of this technology, clothing sellers were able to arrange interactive online fitting rooms, and furniture makers were able to show how this sofa would fit into that interior. Both cases propelled their companies’ profits to a new level.
Better competitiveness experience
The world doesn’t stand still and mobile sales is THE thing right now. Ignoring the trend of mobile commerce, you give an advantage to your competitors, gradually go into the shadows yourself, losing customers and profits.
Sky’s the limit and you shouldn’t neglect logical growth and development – contact Gravum specialists today to create your unique selling application. We have great experience in turnkey projects to keep you satisfied with the result of our work.
The online sales market is developing at a tremendous pace and the competition is growing alongside. One of the main tools for business prosperity is a mobile eCommerce app. A dedicated mobile solution opens new business opportunities (expansion of markets, audience, etc.) and helps to better use the possibilities surrounding you right now.
Boosted customer loyalty, average check, conversion rates – these are some of the few factors that can take a business to a new level in the modern fierce markets. Business is very volatile, so it is always important to stay flexible and go for new profitable environments.