According to Forrester Research, around 50% of all online sales in Europe will occur via mobile devices. So, it’s becoming quite apparent that mobile commerce or m-commerce requires attention. Your opportunity to tap into global markets lies in exploiting this specific trend.
Now, e-commerce may be the larger dimension within which transactions take place. But m-commerce forms a significant part of it. No matter where you go, brands are reaching out for your attention via the mobile screen. For example, Walmart advertises its app-based home delivery services inside its own stores. Yes, Walmart is actively encouraging its individual customers to avoid the hassle of coming down all the way to the store to buy things.
Of course, consumers love it. According to a Salesforce study, m-commerce will drive close to 70% of all e-commerce sales soon. The study also agreed with the predictions made by the earlier Forrester Research study.
So, to put it simply, you need to be ready for the m-commerce shift. But how?
Well, you can start by implementing these basic strategies.
As m-commerce grows, so will global commerce. You need to start tapping into audiences beyond your own region. In other words, there is no running away from localisation. However, you need to know how to localise before you jump into new markets.
Make an effort to understand the markets you are targeting and study the behaviour of customers within those markets. For example, a study by Forrester Research found that customers in each European country had their own specific m-commerce shopping lists. It seems the Spanish prefer to use their mobile devices for purchasing children’s items while the Polish use their mobile devices for buying food and beverages.
AI or Artificial Intelligence is growing to play a more significant role in retail for the simple reasons that it offers a string of benefits. Studies show that around 85% of all customer interactions will be managed by AI-based tools. So, leverage AI to your advantage.
AI-based solutions and tools like Chatbots reduce the time taken to answer queries and are far more accurate. They are designed to learn, making it possible for the customer to find the exact answers to their questions.
So, it’s pretty clear from the data that most of your sales in the future will depend on mobile technology. The only way to stay relevant in the competition is to adapt. In this case, it means leveraging advanced technologies such as AI and strategies such as localisation.
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