For anyone who likes to use technology, it’s pretty likely that you have used mobile technology. The mobile industry has rapidly grown to be one of the biggest and most immersive industries worldwide. Billions goes through our smartphones in payments, making it easier for us to do everything from pay our friends the bar tab to pay off debts and set up invoices for our clients.
The world of commerce in the mobile industry, though, is still often underrated by those who use it. If you want a better idea of just how much the mobile commerce industry is going to impact upon our world, read on. We’ll help you to see why this might just be the biggest and most immersive industry in the world in a few years. It should also show you why, as a business, if you are not making the most of mobile commerce then you are missing out.
As a business, your sole aim has to be to bring in more money and revenue. Well, mobile commerce allows for more visibility and sales perhaps over any over time in human history. With that in mind, you should find it pretty easy to fully understand why mobile commerce is such a valuable tool for you to use.
Still not convinced? Then let’s take a look at the cold, hard facts. Each of these should make it much easier for you to see why mobile targeting is not just an idea – it’s a necessity.
When you think of ecommerce, you know that you are thinking about a major worldwide industry. More importantly, though you will also know that you are dealing with an industry that shows no signs whatsoever of slowing down. You see, the ecommerce industry was worth around $1.548bn in 2015. In 2018, it’s worth around $2.86bn – by 2019, that will grow to around $3.41bn.
Mobile commerce is growing at an even faster rate. In 2017 alone, it was worth around $700bn – a 300% growth over its 2013 numbers. This shows you that the numbers are growing all the time, and that this industry has no real appetite for slowing down. The numbers show that you will see more and more of your ecommerce needs being applied to the mobile commerce world – if you are still ignoring the smartphone, it’s time to stop.
Data, data, data
Today, analysis and knowing what we have purchased is the main stock and trade of the consumer. In the past, things like availability and sales price would make the more impulsive buyers out there just take a risk. With constant internet access and easy reading into a product today, though, why would you need to take any kind of risk with a purchase at all?
Indeed, it’s estimated that just one in five buyers will NOT use their smartphone for better analysis. If you are someone who looks to help make sure you can buy a product and know you are getting what you paid for, then you will immediately find that the data-driven approach of mobile commerce will change that.
From comparing prices for a better deal to reading product reviews, people will do everything they can to arm themselves with their most powerful tool: knowledge.
A growing concern
Did you know that around 62% of smartphone owners made a purchase with their smartphone in the last six months? It’s a fact according to research from mobile boosters. People are using their smartphones more than ever, and they will be more than happy to make a purchase on it.
While concerns over interface quality and security still exist, they are dying out at rapid pace. People are more than happy to trust their smartphone just as they would when they are making a purchase on a normal desktop. Scare stories often only last a few years, and the numbers show that the mobile industry has done as much as it can to add the protection needed.
For this reason, we recommend that you perhaps spend a bit more time looking at the fact more users are making a purchase on their smartphone than don’t: this should show you just how prevalent even rare mobile purchases have become.
On all the time
Another huge boost for the mobile industry is the comically sized growth of their use of the internet. You see, more companies than ever are turning to the mobile industry as they know people are online more. On average, we’ll spend around 34 hours in a single month sitting online using a laptop or PC.
With a mobile device, that goes as high as 87 hours in a month. This shows you just how many people are using their mobile devices to make a purchase, as they are simply more accessible. If you spend over double the time on a mobile device browsing as you do with a PC, then it makes sense that you would be more likely to make a purchase.
The days of this being seen as odd or out of sync with the norm is long gone, though. Today, buying products like this on the web is commonplace.
The global marketplace
At the time of writing, it’s estimated that around 55% of the global populace can get access to the internet. Around 3.2 billion will be using the internet in one capacity or another by the end of 2018 and going into 2019. Around 2 billion of those 3.2 billion people will be doing so with the help of a mobile device.
If this does not show you the incredible scope and power of the internet and the mobile industry, it would be hard to do so. If your business wants to keep on improving, then you should be focusing a lot more on the mobile industry than you might do at present. Why? Because, put simply, this is a marketplace that, despite being in its infancy, is set to become worth over one trillion.
If your business is not making the most of one of its most lucrative marketing opportunities, you need to ask yourself why.