Mobile E-commerce in India: Unfolding Facts and Strategies

Mobile e-commerce in india - facts and strategies - mobicommerce

Indian Mobile E-commerce is growing with increasing use of smartphones, tablets. Assocham is the Associated Chambers of Commerce of India. It is a regulatory body looking for trading, commerce and industrial development in India since 1920. As per Assocham, the e-commerce worth increased from $30 billion in 2016 to $120 billion in 2020. It is growing at an annual rate of 51% that is the highest growth rate in the world.

Interesting facts of Mobile E-commerce:

IJIRCCE is an international journal involving in computer science, IT and communication engineering.​ As per the report,

  • In India, there are around 160 million internet users. In which 86 million people access the internet through mobile phones.
  • 9% of all internet page views along with 40% of Google searches are from mobile devices.
  • In past 17 years, our country accrued 15 million from broadband connections. Now it is easy to understand how in the past four years users of 3G connection have grown to 22 million.
  • In India, the usage of Facebook on mobile phones accounts for 30% in social media.
  • LinkedIn ranks India in 4th place among its growth markets for mobile users.

Track this mobile e-commerce by following the below 6 strategies:

#1. Mobile friendly website

According to Hosting Facts, over 50% of traffic comes from the mobiles. If your site is not responsive then you are losing a lot of money from your pocket. Hence, it is recommended to redesign your website with a responsive theme which helps to boost conversion rates and sales.

Here we are talking about user experience. Page loading time plays a vital role in increasing user interaction. It would be 7% loss in conversions if there is a one second delay in loading time of your website. When website loading time is over 3 seconds, it is observed that 40% consumers likely to leave the page. Moreover, it also plays a significant role in increasing the search engine rankings. You can find out page speed of your website via Google PageSpeed Tool, GTmetrix or other such tools. To shorten the load times try to reduce the file size without compromising the quality of images or the site at all. You can also optimize images, minimizing java scripts and much more to improve the page speed. That will turn into more conversions in e-commerce.

#2. Mobile App review, ratings & ranking

The below figure depicts the average time spent per day on mobile internet as well as a mobile app. To be on the top ranking of the marketplace, the app rating and review strategy have found to be helpful.

emarketer

One of the important strategies to boost your mCommerce by leading to a maximum downloads ratio of your app. The reviews and ratings can be achieved by App Store Optimization which increases your app visibility, the higher the rank, more the visibility. The ranking of the app can be increased via numerous factors such as Positive ratings from current users can be encouraged by giving them some benefits, retention of the app by current users, maximum downloads can be encouraged by giving the users monetary benefits, incentives or either and discounts, etc. Also, downloads can be done providing the other benefits such as App icon, the attractive and meaningful the icon would be, the more users will download it to check, screenshots, images, etc are the other external factors to increase download ratio as well as improve ranking.

#3. Digital Wallet feature

The decision of demonetization of Rs. 500 and 1000 bank notes initiated by the government of India from 9 November 2016. The demonetization has created hype in our country. As you all know that cash transaction is becoming a major problem, people are looking for other ways to do so. Such methods are e-wallets i.e. Paytm & Oxigen, online transactions like e-banking etc.

Mobile Wallets are becoming hot these days and for retailers to sustain their business and be in the market, it is mandatory to have their mobile app with updated payment methods inclusive of a digital wallet. This digital wallet should be having extra features such as Loyalty Program, Digital Coupons, and Location Based Services unlike traditional wallet.

#4. Experience like in-store shopping

Retailers choose mobile as their top priority, and they are placing it at the top of their list. MCommerce apps are providing great shopping experiences with low caching time, price comparison facility, cart, checkout etc. That further suits the needs of the consumer as all they demand is speed and ease in functionality. Personalize your brand the way customers like and try to strike a chord with your target audience.

#5. Buying options

India is one of the youngest demography globally which is using smartphones. According to Assocham, about 75% of online users are in the age group of 15-34 years. To hit the mark, retailers have to create a variety of age-targeted products. They also need to improve their sales graph. They should offer great discounts categorizing to ages. Like kiddo offers school and stationery stuff. For young boys and girls, it should be the latest trends of garments, stylish products and much more.

#6. Safe and secure online payment systems

Amazon, Alibaba, Flipkart and Snapdeal are playing an important role in Indian E-commerce. As per the report of Newswire, India will reach $75 billion mobile E-commerce Market by the year 2021. People are afraid of online transactions because of the security of online payment systems. As per Dazeinfo, out of the total transaction, online payment was 14% only in February 2015.

Conclusion

Without any doubt, we can say that this is the time for the expansion of the mobile e-commerce industry. The fact is an average online user issuing mobile for browsing. It gives mobile e-commerce an opportunity to draw more users to their sites.

Try to focus on implementing mobile responsive themes for your websites. That allows easy access to browse the products or services. Apply innovative marketing strategies to attract more customers.

MobiCommerce is a platform to transform your online store into a mobile shop with the help of Magento Extension and PrestaShop Module. It makes your business available to mobile users, simplify shopping experience and promote your business with mobile presence.