Worldwide retail revenue has increased 6% this year (2016) to $22 trillion, which is a 6 percent increase in sales over last year. Out of this staggering amount, eCommerce and mCommerce make up 14.6% of the total retail spending, or $4.05 trillion. The figure may seem like a small amount, but when we consider the fact that mCommerce sales have shot up almost 40 percent from last year, it is evident that eCommerce and mCommerce are the future of retail.
E-Commerce and M-Commerce Are Very Relevant Today
Customers prefer retail services that they can shop from conveniently, have fast delivery times, and accept multiple payment options. Many customers don’t have the time for face-to-face interactions these days, either. All these factors make online commerce – via desktops and phones – more relevant than ever before.
They Are Two Sides of the Same Coin
While some people think of mCommerce as being different from eCommerce, the reality is that they are both part of the whole. Earlier, customers used to buy from desktop devices because no online retailer offered mobile purchases. Responsive technology and mobile apps have made it easy for people to shop from mobile phones.
Benefits of Online Retail Technology
There are a large number of benefits to using the software platforms we have these days that make e-stores. For example, you will be able to offer customers a place where they can shop from conveniently. The store will (ideally) load fast on a range of devices, be easy to navigate, offer intuitive product search, and make it as easy as possible for people to buy from you.
Omnichannel Services Are the Way to Go
While mCommerce and eCommerce are critical, they are, at the moment, in their infancy. Your business will benefit the most if you can use both platforms as a part of your existing real world infrastructure, to sell to people who cannot visit you personally or to attempt to grow your business globally.
By putting your business online, you not only get access to more customers, but you can also serve existing customers better. It will take time and effort, to get a good business going – make sure you have a clear strategy in place, you hire the right developers, and you offer a true omnichannel experience.