Did you know? This year, global eCommerce sales will surpass $5 trillion, accounting for over 20% of total retail sales. Furthermore, overall spending is expected to reach approximately $7 trillion by 2025.
Undoubtedly, the eCommerce industry has seen many changes over the past few years. And in the coming years, it will only get more competitive.
If you are involved in this industry, staying informed on the latest trends is essential. And for now, a mobile app is a crucial component of your success in eCommerce.
How does a mobile app play into your eCommerce business strategy?
If you have an eCommerce business, you understand how crucial it is to market your brand and gain exposure. In contrast, many assume that having an online presence is enough to stay afloat in today’s market. This couldn’t be further from the truth. Ecommerce app development is the most effective way to reach a large audience of customers.
Your business needs to have a digital face that’s accessible to customers 24/7, so your business needs a mobile app! If you’re not currently looking into the benefits of developing a mobile app, here are some reasons why you should consider it sooner rather than later.
7 Reasons Why a Mobile App is Crucial for Company Success in eCommerce in 2022
With the rapid growth of mobile Internet, e-Commerce business has an overwhelming potential in the near future. Let’s take a closer look at some of the reasons why developing a mobile app is crucial for your success:
Increased Customer Engagement
People are more likely to engage with your brand on the go and often make impulse purchases while mobile. The average person checks their phone every eight minutes, so it’s important to be present when they are looking for something.
This increased engagement can lead to increased sales. In fact, people who use smartphones spend up to 35% more money online than those who don’t. It also helps create an emotional connection with customers. It creates a sense of community through regular updates that keep people coming back to see what’s new.
According to Oberlo, in 2022, there will be 266.7 million digital buyers worldwide – an increase of 1.4% annually since the previous year.
Insider intelligence predicts that mobile commerce will reach $620.97 billion, or 42.9% of all e-commerce, by the year 2024.
In order to reach the most potential customers, mobile-friendly retail sites are becoming an essential component of any successful eCommerce strategy. With the help of a mobile app, consumers can find:
- What do they need?
- When do they need it?
- And from wherever they are.
And with features like push notifications and geo-fencing, you can ensure customers always know about new arrivals and offers tailored to their needs.
When it comes to company success, the number one reason consumers will buy from you is that they trust you. And how do consumers feel about your company? They feel positive if you have a mobile app. An app shows that your company values convenience and allows customers to use their preferred device to shop. Plus, people are used to scrolling through their screens on the go. This is why eCommerce app development is a great idea for your business.
Wunderman Thompson states that 65% of consumers expect to use more online shopping channels in the future. It also found that 34% of shoppers prefer for their purchases to be digital and immediately available; it gives this preference over physical items.
With the help of a mobile app, companies can track customers’ purchases, collect data from social media platforms, and use that data to improve marketing campaigns. According to Forbes, this will lead to success.
For example, Amazon used information about customers’ browsing history and what they looked at on their screens to develop personalized product recommendations. This led to an increase in revenue by $1.6 billion between 2012-2014. Therefore, you could improve your personalized product recommendations by considering an app development company.
A mobile app gives you the opportunity to expose your products to millions of potential customers by being on one of the major digital storefronts. For example, Google Play hosts more than 2.5 million apps, and Apple has about 2.2 million apps available for download.
This means that your app will be more likely to be discovered by customers searching for a particular product. With this exposure, you will be able to boost sales, which will lead to higher profits.
A mobile app simplifies the process of purchasing items. Your consumer doesn’t have to go through any more steps than necessary to buy something, and you don’t have to worry about your customer abandoning their purchase due to complicated checkout.
Additionally, the speed of checkout on an app is unparalleled by any other form of online shopping, so people are less likely to abandon their cart if they’re waiting too long. It’s much easier to complete a transaction when it only takes seconds rather than minutes or hours.
A study reports that the conversion rate for consumers who shop online is about 3.9% higher when done from their desktop than from mobile devices.
It’s not just about attracting new customers; it’s also about retaining existing ones, and mobile apps help keep them coming back. So if you’re on the fence, now is the time to make your decision – do you want your company to survive or not? The future of retail is changing fast; this is one trend where you don’t want to be left behind.
Therefore, if your company wants to remain competitive in 2022 and beyond, you should be prepared with a mobile app.
Now, you might be wondering:
What are the best platforms to develop an app on?
The three most popular platforms are iOS, Android, and Windows. If you’re just starting out, it’s often easiest to start with one platform (iOS or Android) and then plan to develop on the other at some point in the future.
In terms of cost-effectiveness, you can hire an app development company that specializes in your chosen mobile OS.
However, there are several things to consider before deciding which platform to develop on:
- Who is your target audience?
- What country will you be launching in?
- How tech-savvy is your target market?
Other considerations are whether all users have smartphones, whether they can afford smartphone ownership costs, and whether they will have access to WiFi where needed. Consider these factors before investing in any particular mobile operating system.
How much will developing an eCommerce app cost you?
The cost of developing an eCommerce app is usually calculated at an hourly rate. The best way to figure out your costs is to talk to a mobile app development company. They can give you estimates on how much it would cost, depending on the functionality and level of customization you want, so that you know what kind of budget to plan for.
For developing any type of app, whether it’s an eCommerce app or a social media app, the costs can vary widely from project to project. In short, the costs is depended on various factors such as:
- Number of screens
- Platforms you need to develop for (i.e., Android vs. iOS)
- User interface design
- Whether the application requires in-app purchases
- The geographic location of end users
- Design and complexity of the application
- Amount of time allotted to complete the task
- Programming language used
So, if you’re looking to get a ballpark idea of how much your eCommerce app will cost, start with figuring out what features are most important for your startup’s success and then research typical costs associated with each one.
Then add up all these items into one final number; that should give you a sense of the potential expenses you may incur when hiring someone to build an app for your business.
Today, customers have high expectations and want to be informed of any news or developments that affect them. Using a mobile app also boosts customer satisfaction, leading to increased customer retention rates and lifetime value.
Maintaining a close relationship with their customers will allow companies to create more personalized marketing strategies for better engagement on social media.
On the other hand, not having a mobile app may put a company at risk of losing its market share because consumers are rapidly turning towards apps to make purchases. So don’t think much about what you’ll lose if you decide not to invest in your business today. Think about what you’ll gain from investing in your future – including unlimited opportunities!
Hire an e-commerce app development company like ours with vast experience designing and developing e‐Commerce apps. You can even get free consultations on how to promote your new mobile app.