This week, we wrap up our five-part series on Top App Development Trends for 2016 with an article on mobile commerce! For a recap, take a moment to review our last four articles on cross-platform app development, cloud integration, mobile security and IoT.
Smartphones have brought about unparalleled convenience in our daily lives. We are constantly connected to our rolodex of contacts with a variety of methods of communication. We can access all the information available on the world wide web anytime. We can find the nearest store of choice anywhere we go. For businesses, the mobile platform represents not only a major avenue for advertising, but an opportunity to give customers the ultimate convenience when purchasing products.
According to Internet Retailer, mobile commerce represents 30% of all US e-commerce and rose by 38.7% from 2014 to 2015. According to The Mobile Playbook, the absence of a mobile presence is the financial equivalent of closing a store for one day a week. Suffice to say, mobile commerce is only on the rise in the coming years. Here are the top mobile commerce trends for 2016:
INTEGRATING PHYSICAL WITH DIGITAL
Although the digital world is virtually omnipresent in households, the appeal of immediately receiving one’s purchases remains attractive. Retailers are offering an increasing variety of online + in-store options. Apps like Curbside have partnered with Target & Kroger’s to enable customers to skip the line when picking up their purchases.
PERSONALIZED MOBILE PAYMENTS DRIVE LOYALTY
Although services such as Apple Pay and Android Pay were once hailed as the future, they have had a hard time receiving mass adoption. This hasn’t stopped the impact of the mobile wallet on commerce. Starbucks drives 16% of transactions through its mobile app. Walmart Pay arrived in December 2015, and now Target is next in line to develop their own payment app.
WEARABLES ON THE RISE
According to Arc, there will be a 61% growth in wearable ownership in 2016. App developers and retailers are still plotting on how to capitalize on wearables. Many anticipate a hands-free shopping experience in which one can simply walk out with their purchases and have automatic charges through wearable devices. Wearables represent a major avenue for retailers to create innovative strategies and dictate trends to come.
MOBILE WEB DRIVES PURCHASES
While about 85% of time spent on mobile devices occurs in apps, the mobile web has actually proven to be a more successful in driving website traffic. Consumers spend 80% of their app time on their top 3 apps. The mobile web drives twice the amount of site traffic than mobile apps. With 82% of smartphone users looking to their phones in stores when deciding what to buy, many anticipate the mobile web to surpass apps as the largest revenue driver in the next few years.