Tag: ecommerce
WTF Is Mcommerce?
Time to add another word to the digital marketing dictionary! Under the ecommerce umbrella, you’ll now find mcommerce — or mobile commerce — which consists of retail experiences available on mobile devices. Here, we’ll take a look at this topic, the opportunities available to advertisers, and everything they need to know to make the most of it.
Understanding Mobile Commerce
So what exactly is mobile commerce? As mentioned above, mcommerce consists of retail experiences on mobile devices, including phones and tablets. For example, if a consumer makes a purchase through an app on their phone, that falls into the mcommerce category.
Just like mcommerce is itself a category within ecommerce, several specific experiences fall into the mcommerce category, including:
- Social media commerce (also known as social commerce)
- Purchases made through mobile apps
- Browser purchases on phones and tablets
The Current Mcommerce Industry
It’s no secret — people spend a lot of time with screens, especially smartphones and other mobile devices. One Statista study found the average U.S. mobile phone user spends around 4.65 hours on their phones every day, so it’s no surprise that mcommerce is on the rise.
A 2023 survey found most consumers — 73% — are using smartphones to make online purchases, while 29% reported using their tablets.
According to EMARKETER, mobile commerce is expected to make up 44.5% of total US retail ecommerce sales in 2024. By 2028, that number is expected to grow to 50.7%, making up half of all ecommerce sales, which means advertisers have a massive opportunity to connect with consumers through their mobile devices.
Social Mcommerce
In general, Gen Z is much more likely to purchase directly from a social network, but don’t leave other generations out of your advertising. According to EMARKETER, a significant percentage of customers across generations are likely to make purchases directly from social networks, but the willingness varies by platform. They found:
- 49% of respondents are likely to buy directly from Facebook
- 46% of respondents are likely to buy directly from YouTube
- 40% of respondents are likely to buy directly from Instagram
- 39% of respondents are likely to buy directly from TikTok
- 31% of respondents are likely to buy directly from Snapchat
Livestream Mcommerce
Livestream commerce experiences are popular around the globe with consumers in China, India, and Thailand paving the way. According to a 2023 survey, China was the most popular country for livestream shopping, where 81% of consumers reported using the feature to make a purchase.
While livestream shopping hasn’t taken off as quickly in the U.S., a growing number of consumers are showing interest in the feature. EMARKETER found that 11% of U.S. respondents said they regularly use livestream shopping experiences to make a purchase in June 2024, up from 7% in June 2023.
Read more: The Future of Video Commerce Is Here
Holiday Mcommerce
While we might spend a bit more screen-free time during the holiday season to be present with our loved ones, mobile commerce still continues to grow.
During the 2023 holiday season, mobile devices accounted for half of all ecommerce revenue in the U.S. For 2024, EMARKETER anticipates holiday mcommerce to account for around 52.7% of total holiday ecommerce sales.
And these aren’t simply spur-of-the-moment purchases, either. According to a Statista survey, 67% of U.S. shoppers planned to use their mobile devices to shop during the 2023 holiday season. Additionally, 62% of shoppers planned to use their laptop or desktop computer, and 27% planned to use their tablet.
Mcommerce Challenges
According to EMARKETER, there are three main challenges when it comes to mcommerce. Let’s take a closer look:
1. Cart Abandonment
We’ve all been there — we’ve filled our digital shopping carts with the things we actually need (and seven things we didn’t) before closing the browser altogether. And it turns out we’re more likely to do this on mobile devices than we are on our desktops.
Abandoned shopping carts are a common ecommerce challenge across devices. In Q1 2024, Statista found mobile devices have the highest cart abandonment rate at 85%, followed by tablets at 80% and computers at 75%.
2. App Acquisition
Though larger brands like Temu and Shein have experienced significant app download growth, other retail brands haven’t seen the same experience. Especially for retailers who have previously been focused on an in-person or laptop / desktop shopping experience, mobile apps might not have even been on their road map.
Now, with mcommerce, it can be difficult to get consumers on board. Since mobile app downloads around the globe are slowing down, consumers are likely more discerning about what they’re downloading onto their devices.
Or they might already be using retail apps. EMARKETER also found saturation to be a concern for acquisition, since their reports show 76.5% of smartphone mcommerce shoppers are already happily using other retail apps.
3. Customer Experience
Like we mentioned, lots of digital experiences were created with a desktop or laptop experience in mind, which means mobile experiences often fall short.
EMARKETER found some common issues to be ease and convenience, specifically around rewards and payment methods. If visuals, links, and other elements aren’t optimized for mobile devices, these can also create significant barriers for consumers, causing them to abandon the mobile shopping experience.
Mcommerce Video Marketing
Not sure where to start? Let’s explore a few different mcommerce video types:
Shoppable Social Media Videos
When it comes to mcommerce on social media, shoppable content is a great way to engage with your audience. These videos can connect with consumers at all stages of their purchasing journeys, providing the information they need to make an informed decision.
Now, many platforms, including TikTok, Snapchat, and Instagram, have in-platform features that allow consumers to shop directly from the app. By creating and sharing video content through these features, your shoppers can take action as soon as they find a product they want to buy.
Livestream Content
As mentioned above, livestream content is a great way to connect with shoppers around the world. Many brands can create livestream videos to promote their products and sell them directly to audience members.
Livestream shopping combines the popularity of streaming — which can be found across social media, over-the-top (OTT) channels, and other digital platforms — with the nostalgic experience of home shopping networks.
Product Videos
While you can create shoppable product videos for social media, you don’t have to limit your brand to these platforms. Product videos can also be a great way to engage with consumers on your website or mobile app. By providing information in an engaging way, you can encourage consumers to learn more about your product and brand while staying within the shopping experience.
Read more: 5 Best Ecommerce Product Marketing Videos (And How to Make Them)
Make the Most of Mcommerce
With so much time spent on mobile devices, it’s no surprise that mobile commerce has grown in popularity. From social media shopping experiences to mobile apps, mcommerce video content can help you connect with your customers on their favorite platforms.
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