Just as we keep a track of our sleep, manage our bank accounts online, ordering pizza till booking hotels, communication via social apps and shopping via E-commerce based applications are also overtaken by mobile apps. E-commerce based app have changed the way people search and buy things - making everything personalized and engaging. It is like the joining chain between consumers and retail shops.
A recent study of US market resulted in the conclusion that : over 65% of the US consumers interacted with the retailers through the mobile apps while 35% of the consumers would prefer to go with mobile web rather than mobile apps. Still, we are having a healthy debate on mobile web approach in contrast to mobile app approach, stats shows that:
1. People spend around 200 minutes of monthly time in mobile apps while approx of 20 minutes in the mobile web app.
2. M-commerce will conclude with grabbing around 45-47% of overall E-commerce which corresponds to almost $280 billions of sales through mobile approach.
3. M-Shopping is one of the biggest revenue source generating 46% of the total retail revenue through mobilization approach driving people more towards the healthy use of technology.
Moving forward, with the rapid development of technology and it's constant evolution to serve people with something more, consumers are evolving more demanding for the latest technology and retailers need to get aware of the trend and demands of consumers providing more – seamless, personalized and sleek user experience that satisfies the needs and demands of the consumers or you can say, shoppers.
You might be wondering how mobile apps changed the face of E-commerce industry? Earlier the mobile app followed rigid approach but technological evolution along with increasing consumers demand to make everything “User-Centric” has evolved the personalized trend in a way that it changed the face of retail industry from back to forth. Below are some of the keynotes highlighted by app development company that justifies the crux of the title.
1) Applications: Generating High Revenue with Improved UX
Though experts can continue to debate over above headline. But in the end, consumers are the one to decide the ultimate winner. However mobile web is still more prevalent in the market but according to the survey conducted, mobile apps are more preferable choice as:
1) Apps operate faster (55%)
2) More convenient to use and operate (65%)
3) Offers moire benefits and rewards (30%)
4) Can be used regardless of time and location (70%)
Google Analytics report states that: "The gradual increase in mobile app spending is so paramount that almost 30% of the online shopping is overtaken by mobile apps." Mobile app users are highly valuable to retailers as for every $50 spent on the desktop, mobile app usage has grown by $55.
2) Loyalty Program Benefits
The main aim of retailers to use loyalty programs is to increase sales and to increase customer retention. Loyalty program proves to be a great source of incentive for consumers for being loyal with the application. Retailers are making use of loyalty programs to increase sales, create upsell and cross-sell opportunities and to improve retention. To accomplish sales & marketing strategies, retailers need to decode the data collected by the loyalty program. Once the data is accumulated, retailers need to understand the most profitable consumers – as 70% of profits come from 30% of customers.
Once the most engaging customers are identified, it’s time for retailers to connect with them and to convert those happy customers into brand ambassadors. 60% of the customer's opinion to retailers would be always positive once they start receiving offers and deals that can be beneficial to them.
3) Power of Push Notification
Push notification is one of the most powerful weapons of sales and marketing team. But to increase sales ratio, the proper strategy needs to be conducted as bad marketing channels lead to annoying push notifications. The best way to send push notification is to personalize them according to user preference and purchase history. 35% of the push notification sent to the consumers are generic – that is broadcasted to all the users and the rest is user specific. One of the major add-on noticed in push notification is involvement of “Beacons” - that makes use of Bluetooth power to communicate with the nearby users having closest proximity. With the precisely targeted messages allows retailers to communicate with the consumers at right time and place that boost up it's sales in influencing manner.
It's Now or Never:
The debate over web v/s mobile approach is endless but now, it's time for retailers to take advantage of mobile approach and to monetize the app or let competitors overtake the advantage of the same. If you want your app to make the loud noise in the retail market then, join Hyperlink Infosystem- one of the best app development company that has finely polished expertise in bestowing app development solutions to it's clients. Contact us now to make us your development partner!