Innovations in m-commerce: next-generation shopping using AI, VR and 5G
“Technology is not just a tool. It creates possibilities.” — Sundar Pichai, CEO of Google
Today, a phone is not just a means of communication, but a full-fledged trading platform, accessible at any time. Imagine: you are in a queue or at home, you receive a notification about a discount, and with one touch you make a purchase. This is the magic of mobile commerce (m-commerce).
Shopping via mobile devices is becoming easier and more exciting. Apps, voice assistants and integration with social networks make shopping easy and exciting. You can “try on” clothes through virtual reality or get offers based on your geolocation.
It is important for marketers and affiliate marketers to follow trends and innovations. Therefore, in this article, we will consider how AI, VR, AR and 5G are changing the future of shopping and how to use them to increase conversions.
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M-commerce
M-commerce (mobile commerce) and e-commerce (electronic commerce) are two different but related forms of online commerce. M-commerce focuses on the purchase and sale of goods and services through mobile devices such as smartphones and tablets. This includes the use of mobile technologies to simplify the shopping experience, such as mobile apps, push notifications for discounts, and mobile payments (such as Apple Pay).
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The main components of m-commerce include:
- Mobile shopping: Direct purchases of goods and services through mobile apps or websites optimized for mobile devices.
- Mobile payments: Payment for goods and services using mobile payment systems and electronic wallets.
- Mobile advertising campaigns: Advertising targeted to mobile device users, including push notifications, mobile banners, and in-app advertising.
- Mobile banking: Manage your bank accounts and perform financial transactions through mobile apps.
In contrast, e-commerce encompasses all online transactions over the internet, regardless of device, including desktops and laptops. While e-commerce can include any type of online sales and interactions, m-commerce focuses exclusively on mobile devices and interfaces optimized for smaller screens.
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M-commerce sphere
According to the latest data from GSMA Intelligence, the number of unique mobile phone users at the beginning of 2024 is 5.61 billion. In the image below, we see the number of smartphone users relative to the population of different countries.
The m-commerce sector is a relatively new and rapidly developing market that is experiencing significant growth due to the ever-increasing number of smartphone users.
Also, since 2018, the mobile commerce market has been expanding rapidly, as evidenced by the data in the image below.
Forecasts indicate that this rapid development will continue in the coming years, confirming the growing interest of consumers and businesses in mobile shopping. Mobile commerce is becoming an increasingly important part of e-commerce, offering new opportunities for convenience and innovative shopping solutions.
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What's popular now
- Mobile payments and digital wallets: Apple Pay and Google Pay make shopping easier and safer — a few taps and your purchase is ready. Cryptocurrencies and QR codes are also becoming more popular, offering new payment methods. This is convenient for users and attracts more customers for businesses.
- Mobile Apps: Brands are developing convenient mobile apps where you can browse products, get personalized recommendations, and see current promotions. Many apps offer features like wishlists and push notifications for discounts, as well as built-in payment and order tracking tools.
- Voice Search: Voice assistants like Siri and Google Assistant make it easy to shop by simply speaking. This is great when your hands are full or you need to find a product quickly.
- Social media as marketplaces: Platforms like Instagram and Facebook are turning news feeds into stores, allowing people to buy products directly. This makes it easier to interact with brands and makes the shopping process faster.
- Omnichannel: Companies are implementing strategies that combine online and offline shopping. For example, you can order a product through an app and pick it up in a store.
- Geolocation and personalization: Mobile devices allow retailers to provide offers based on the user's location. Shoppers receive notifications about discounts when they are near a store.
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The Future of M-Commerce
- Security: Mobile wallets and blockchain technologies will ensure reliable protection of transactions and data, strengthening user trust.
- Artificial Intelligence and Big Data: AI and Big Data will change the interaction with customers by predicting their desires and offering products before they realize the need for them.
- Virtual and augmented reality (VR and AR): Allow you to "try on" things and "visit" virtual stores, making shopping more exciting and informative.
- Internet of Things (IoT): Develops the concept of "smart" devices that can automatically order products or remind you to buy.
- High-speed 5G Internet: Will open up new possibilities for interactive applications, improving the quality of video, live broadcasts and interaction with smart devices.
"The future of commerce is not just about buying and selling. It’s about creating an experience that people will love." — Jeff Bezos, Founder of Amazon.
The future of m-commerce promises radical changes in the way we shop and interact with brands.
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What does this have to do with push notifications?
Research such as the "Push Notification Benchmarks Report" from Localytics and "The Impact of Push Notifications on Mobile App Retention" from Accengage show that push notifications have higher conversion rates than traditional emails, making them a valuable tool in affiliate marketing and mobile commerce.
Innovative technologies such as artificial intelligence (AI), augmented reality (AR) and virtual reality (VR) are opening up new horizons for creating interactive and memorable campaigns, capturing attention and increasing user engagement.
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Conclusion
Audience analysis and changes in user behavior highlight how mobile commerce continues to revolutionize the shopping experience, creating new opportunities for convenience and personalization.
Users increasingly prefer apps to websites due to their speed and personalized approach.
This provides unique opportunities for affiliates to optimize their strategies and achieve better results in the world of affiliate marketers in general and mobile commerce in particular.
As Harvard professor and author of the theory of disruptive innovation Clayton Christensen noted, "The true art of business is not only to anticipate the future but also to be prepared for change."
In an environment of constant change and technological innovation, the ability to adapt and embrace new tools and trends is becoming the key to success.
What do you think about new technologies and trends in m-commerce?
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Sources:
The following reports, articles and sources were used in this article:
- Gartner "Mobile Commerce Innovations and Trends." Gartner Reports, 2023.
- Statista "Global Mobile Commerce Market Size 2017–2025." Statista, 2023.
- McKinsey & Company "Digital Disruption in Commerce: The Rise of M-commerce." McKinsey Digital Insights, August 2023.
- Forbes "The Future of Mobile Commerce: Key Trends Shaping the Industry." Forbes, April 2024.
- Business Insider "How AI, Blockchain, and 5G are Transforming the M-commerce Landscape." Business Insider, September 2023.
- PwC "M-commerce: Customer Experience and The Future of Retail." PwC Global Consumer Insights Survey 2023.
- eMarketer "M-commerce Growth: A Look at Trends in Mobile Shopping, Payments, and Beyond." eMarketer, June 2023.
- Accenture "The Next Evolution of Mobile Commerce: Personalization and AI." Accenture Technology Vision 2024.
- KPMG "The Impact of 5G and IoT on M-commerce." KPMG Digital Commerce Report, 2023.
