Anand Kumar Mishra
8 Mins to Read
Table of content
Thanks to the latest technology trends, eCommerce application development is becoming invaluable to every business. Mobile apps for eCommerce have changed how retailers connect with their customers. eCommerce platforms are the revolution and creating a buzz in the market. These platforms are revolutionizing how online shopping is done, helping businesses step ahead in the competitive retail industry.
With increasing customer expectations, the rise of omnichannel commerce, innovations and advancements in technology, traditional retail commerce is reshaping and paving towards eCommerce platforms. eCommerce websites are a simple mantra that can help you expand your customer base, increase your sales and boost your brand.
eCommerce application development stats and facts
- Global online retail sales are estimated to surpass $7 trillion by 2025 as compared to $5 trillion in 2021.
- Over 67.2% of all online sales are generated by mobile applications.
- 56.6% Of shoppers prefer online stores
- Over 67.2% of all digital sales come from mobile commerce.
- Voice commerce contributes $2 Billion in total consumer spending.
- 70% Of small businesses have a functional website.
- By 2040, eCommerce will account for 95% of sales.
- From US$ 3.95 billion in FY21 to US$ 26.93 billion in 2027, the Indian online grocery industry is predicted to grow at a CAGR of 33%.
- Increasing from US$ 537.5 billion in 2020, India’s consumer digital economy is predicted to reach US$ 1 trillion in sales by 2030.
- 93.5% of global internet users have purchased a product online at least once.
- Online stores with a social media presence generate an average of 32% more sales than those without one.
- 74% of consumers make purchasing decisions based on their social networks.
How can mCommerce add value to your business?
Why use eCommerce for your business?
- From Physical to Online
- Better conversion rate
- Increased revenue and expansion
- Global Brand recognition
From Physical to Online
eCommerce allows your business to go from a physical store to a virtual store that can be accessed anywhere, anytime.
Having a virtual store have the following benefits:
- drives more customers.
- creates an omni-channel shopping experience.
- boost customer retention.
- deliver a more personalized experience to the customers.
- centralize your product and reduce in-store inventory.
Better conversion rate
There is no doubt mobile apps for eCommerce drive a higher conversion rate. It helps in getting more revenue.
When a customer wants a product, they seek an effortless and smooth shopping experience. Mobile apps are the only way this can be made possible. Following are some reasons why a mobile app for eCommerce can drive a higher conversion rate :
- Mobile applications have all the information a customer needs in one place.
- The push notification feature in the app helps in better conversions.
- Mobile apps for eCommerce provide easy checkout and shipping.
Increased revenue and expansion
Mobile apps for eCommerce are flexible and user-friendly. Mobile app implementation is usually expensive, but the conversion rate is even higher and quicker.
A good mobile app with good functionality and features attracts more customers, thus, more orders and increased revenue. The right Android application development services, backed by a capable team of developers and the capability to handle complex projects, can help you achieve this goal.
Global Brand recognition
Mobile apps for eCommerce provide a crucial platform for brands to connect better with customers. According to a report by eMarketer, mobile app shoppers are three times more likely to repeat a purchase, accounting for over three times of total revenue.
You can integrate your social media profiles, allowing your customers to discuss your brand. This helps businesses retain customers and boost brand recognition and loyalty.
Top eCommerce trends in 2023
Following are some of the essential features to add in a mobile app for eCommerce and drive better conversions and more revenue:
Voice Commerce: According to studies, the voice commerce market is expected to reach over$30 a billion by 2024. Owing to its phenomenal growth, eCommerce mobile app development services are expected to be one of the leading trends of the eCommerce industry over the coming years.
Just like voice commerce, users can search for products as if they were interacting with a person, using conversational language or images, thanks to artificial intelligence (AI), which enables an e-commerce website to suggest products by identifying customers’ shopping patterns.
Social Commerce: With social media apps like Instagram and TikTok allowing users to checkout without leaving the app, mCommerce is now getting even bigger and more attractive for customers.
Omnichannel experience: With the increasing competition, brands now sell multiple products on various channels like mobile apps, mobile websites, websites, or physical stores. As a business owner, you are responsible for providing your customers with a smooth experience across all channels.
Mobile Chatbots: Mobile Chatbots are not new. A lot of the popular eCommerce platforms have been using it for years. In the coming year, the use of Chatbots will supposedly increase.
A chatbot can provide the following benefits:
- Smart personalization and improved CX
- Better analysis of the preferences of the users
- Higher customer engagement
- 24/7 customer support
- Saving cost and time of hiring a customer support executive
Multiple payment options: According to reports by Statista, the mobile payment industry has a growth rate of 62%. Many customers choose to use mobile wallets to make a payment. It is easy, convenient, and safe. Do not forget to integrate multiple payment methods while developing a mobile app for eCommerce.
It is fair enough to say that eCommerce platforms are growing rapidly, and this is the right time for businesses to catch on to the hype of digital stores. By hiring a Mobile application development services company: iOS and Android, you can build a mobile app to help you list your products in your online store and take your business to new heights by expanding your user base.
Mobile apps for eCommerce can be a boon for your online business and connect your business with the right audience. It also saves you time and resources and broadens your customer base by allowing you to sell anywhere in the world without setting up a physical shop.