When was the last time you bought or sold something on your smartphone? It is estimated that almost 60% of smartphone users in the U.S. make purchases using MCommerce apps regularly.
With the rise of smartphones and increased consumer inclination towards online shopping, MCommerce has seen a meteoric rise in popularity.
MCommerce is an opportunity that businesses of all sizes are looking at as a way to draw a significant amount of customers into their company.
This post will explain what is MCommmerce mobile apps alongside other necessary information you need to know regarding MCommerce mobile app development.
So, let’s get started.
MCommerce stands out as mobile commerce. It refers to the practice of buying and selling products and services through the use of wireless handheld devices, such as smartphones and tablets.
To put it simply, an MCommerce app is a part of an e-commerce platform or can be referred to as the mobile version of eCommerce.
One of the most obvious examples of an MCommerce app is Amazon. Through the Amazon application, customers can conveniently purchase the products they want.
Let’s learn the advantages of the MCommerce app in detail:
Having a mobile application for your eCommerce business will help you provide a convenient experience to your customers. By utilizing an intuitive user interface, your customers will be able to navigate around all the products you have on offer.
According to a report from Forbes, 71% of users are influenced by their experience with an application before making the purchase decision. Thus having a convenient and winning customer experience is the key to ensuring sustainability in today’s online world.
The approach of mCommerce mobile applications is based on putting the customer’s needs first. By leveraging artificial intelligence, MCommerce mobile applications collect customer behavior and then create curated discounts and recommendations that increase the likelihood of users making purchases.
According to a report published by McKinsey, 35% of Amazon’s total sales are attributed to the personalization of the customer experience.
The company offers tailored experiences to each of its customers with technologies such as machine learning, predictive analytics, and artificial intelligence (AI).
It is becoming more and more common to use mobile apps as opposed to eCommerce websites because of their convenience. Considering all the aspects of the shopping process, from finding products to comparing them with other products of similar quality or functionality to making the final purchase, MCommerce apps are much better options.
An organization’s core asset is its customers, therefore being able to keep them at the center of all you do will help you achieve success in the long run. Developing a relationship with the client that is based on direct communication can be an excellent way to build a lasting relationship.
Businesses can improve customer retention by using M-commerce, which creates personalized experiences. Retaining customers is cheaper than attracting new ones, so companies can save money by retaining customers. A loyal customer is likely to make frequent purchases, which may result in increased sales and revenue.
With the growth of MCommerce, as a major channel of shopping, consumers are likely to change their shopping habits as well. Here we have presented the MCommerce states that will demonstrate the success of mobile commerce:
Image Credit: Statista
As far as businesses are concerned, MCommerce app development has many advantages both for them and for their customers. We are going to take a look at some of the best mCommerce mobile apps on the market that have the potential to dominate the industry here:
Business-to-business (B2B) is a type of business model that involves the exchange of goods and services between two or more businesses/companies.
Here are a few of the most popular B2B MCommmerce applications:
Alibaba is one of the world’s biggest B2B eCommerce platforms. This B2B marketplace allows businesses to shop for everything they require.
With its origin in 2003, this Chinese eCommerce platform has today become a synonym for success in the overseas market. In the fiscal year ending March 31, 2022, Alibaba recorded a consolidated revenue of 134.57 billion U.S. dollars.
Amazon is among the most successful online shopping platforms. With the growing demand for Amazon services, the company began offering bulk ordering at special discounts and direct delivery as a means to reach a large audience of customers.
Amazon Business is currently operating in several different countries including Germany, the UK, Italy, France, India, and a few others.
It has been estimated that Amazon’s business share of eCommerce sales is expected to grow to about 2.4 percent of all business-to-business sales made through eCommerce platforms by the end of 2025 in the United States.
Business-to-consumer (B2C) apps are those that are aimed at consumers. Using these applications is an easy way for businesses to list their products on the application so that their customers can browse them and order the products from them in a convenient manner.
Here are a few of the most popular B2C applications available in the market:
Walmart is one of the most popular B2C retail stores. With Walmart’s mobile app, you can purchase everything from grocery items to entertainment products, to sporting goods and crafts, all conveniently and quickly.
Walmart with a 6.3% of market share, is the second largest eCommerce application in the market. Talking about the net sales volume, Walmart’s global net sales amounted to 567.76 billion U.S. dollars.
As one of the most well-known names in the e-commerce industry, eBay is undoubtedly a household name.
eBay was founded in 1995 and has since grown to become a global brand serving more than 190 markets around the world. As of the second quarter of 2022, eBay had a community of over 138 million active users worldwide and those numbers are expected to grow.
Consumer-to-Consumer refers to a market environment where goods are purchased by one person from another person using a third-party platform or business.
Here are a few of the most C2C applications available in the market:
Craigslist is one of the most popular classified applications that allows users to place classified ads and communicate with each other on a message board in order to find what they are looking for.
This MCommerce application has a range of broad categories, and each category has several subcategories, making it easy to navigate to the appropriate section quickly.
According to estimates, Craigslist has an annual revenue of 660 million dollars in the United States.
LetGo is yet another consumer-to-consumer mCommerce application that allows people to buy and sell used stuff like electronics, cars, clothing, and decorations with convenience.
According to Sensor Tower, LetGo mobile app revenue was estimated at $60k in October 2022.
With each passing day, the MCommerce application market is growing and becoming more competitive, and the market is expected to keep growing.
We will be introducing you to a few of the most prominent trends that will be able to help set your presence strong in the competitive market that we are living in today:
Virtual Reality and Augmented Reality are the most common technologies that are being adopted by MCommerce applications in order to enhance their capabilities.
The use of AR/VR enables prospective customers to experience products and services in their own virtual environments, on their own time, and on their own schedules, before deciding whether or not to purchase them online.
According to a report from MBA MCI, more than 30% of millennials and Gen Z consumers want more options for integrating AR and VR technology into their online shopping experiences.
We are experiencing almost every single day the growth of e-commerce applications that are becoming easier and more convenient to use every day. As a way to make sure that customers have the best experience on the app, app developers strive to make the payment process as quick and easy as possible.
Using mobile wallets, users are able to make payments without having to enter their credit card information or any other details in order to do so.
The Amazon app has an option called Amazon Pay, which is a wallet integration that enables instant payments on the Amazon application.
AI makes it possible for the MCommerce application to adapt itself according to the behavior of the users. The majority of the statistics say that AI is the next big thing in the world of MCommerce.
With AI, MCommerce applications can deliver product recommendations, personalized shopping, and chatbot capabilities, as well as virtual assistants.
It is one of the most indispensable features for MCommerce applications to have chatbots available. Chatbots have become an essential part of most MCommerce brands’ focus on making their services available to their customers 24 hours a day, 7 days a week.
MCommerce app development is one of the largest undertakings that requires constant efforts if one hopes to remain competitive in the market.
MCommerce mobile app development cost is determined on the basis of several factors including:
The cost of mobile commerce app development varies significantly depending on the above-mentioned factors. The best practice to get an estimation of the cost is to schedule a consultation with a mcommerce app development company in India.
When it comes to the future prospect of m-commerce apps, there is no doubt that they will lead to strong growth in the years ahead.
The first thing you need to do is hire a MCommerce application development company to help you with your idea for developing mobile commerce applications.
Konstant Infosolutions is one of the most reliable app development companies in India that has been in the industry since 2003. We are the brain behind several successful eCommerce projects. Let us know your requirements and our team will help you realize its true potential.
Essentially, e-commerce is the act of purchasing, selling, and providing goods and services using the internet as the channel of distribution. MCommerce, on the other hand, is an online use of mobile devices that consumers can use to purchase or sell goods and services.
MCommerce app offers several benefits to customers, below we have given you an overview of a few of the most common benefits:
Mobile commerce applications generate revenue from multiple methods such as:
The working process of the MCommerce application is quite simple. From the convenience of their smartphones, users can browse goods and services that they are interested in easily. The goods can be compared and they can then purchase the one that is best suited to their needs based on the comparison.
Vipin Jain is the Co-Founder and CEO at Konstant Infosolutions and is in charge of marketing, project management, administration and R&D at the company. With his marketing background, Vipin Jain has developed and honed the company’s vision, corporate structure & initiatives and its goals, and brought the company into the current era of success.
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