It’s no wonder mobile commerce (m-commerce) is on the rise.
To put it simply, m-commerce is the process of shopping on a mobile device (typically a smartphone). Much like how e-commerce is shopping on a computer. While e-commerce has seen incredible growth in recent years, m-commerce continues to become increasingly popular.
Of the total retail sales in 2020, of which increased by 6.9% from 2019, consumers spent a total of $861.12 billion online (21.3%) with U.S retailers, an enormous increase of 44% from 2019. COVID-19 is largely to answer for this leap, resulting in an additional $174.87 billion in e-commerce revenue in 2020, where shoppers have been confined to their homes, shopping online out of necessity. While accelerated by COVID-19, these behavioral shifts in shopping habits are thought to stick around permanently, as consumers continue to rely heavily on digital devices now more than ever.
The tech-savvy of today, including app and social media users, Millennials and Gen Z’ers, hold significant spending power when it comes to the increase in m-commerce, contributing to major sales growth from both in-app purchases and buying through social commerce channels such as Facebook, Instagram & Pinterest. Since the COVID-19 crisis began, the global social commerce market was estimated to grow at a soaring rate of 31.4%, continuing to increase through 2021. Social media, which is largely targeted for app use on mobile devices, enables consumers to explore new brands via social content, hashtags, and targeted posts, as well as driving traffic to websites, allowing retailers to gain greater exposure to a wider audience in ways that solely brick and mortar or e-commerce alone, does not allow.
Thanks to technological advances it is becoming more and more user-friendly for consumers to shop on their phones. With functions such as one-click checkout and the ability to save payment details for next time, ‘buy’ buttons on social media channels, and easy in-app shopping experiences where you’re invited to create wish-and-shopping lists, technology has enabled retailers to optimize their apps and sites for mobile. These features, together with the increase in popularity of mobile wallets and contactless credit cards, are shortening the path to purchase for consumers.
Insider Intelligence predicts that mobile will inch closer to becoming the preferred platform for online shopping within the next five years, iterating further, both the incredible uptake in mobile commerce, and the need for merchants to react and adapt to the evolving, volatile market, and to their consumers.
Red Pepper’s mobile-friendly platform.
While digital catalogs are becoming increasingly popular as traditional print media is in decline, it’s important for brands to have a seamless, responsive publication that’s durable across any device. This not only enables customers to engage with the content at their fingertips, but it also allows for a consistent user experience, regardless of device.
Red Pepper’s platform recognizes screen size and optimizes the catalog appropriately, whether that’s desktop, mobile, or tablet, as well as amplifying catalog content to Facebook and Instagram, enabling consumers to view publications anywhere, anytime. We have seen the increase in m-commerce first-hand, as readership across the Red Pepper network is 19% higher on mobile devices than desktop. And with 76% of global consumers spending more time on their smartphones since the pandemic began, there’s no better time to put your catalogs where your customers are: online.