M-commerce (M stands for mobile) is trending. Its biggest hurdle to date has been an uneven integration with online shopping carts, primarily because of three factors:
1. Small mobile-phone screen size
3. Payment security
Smartphone manufacturers have addressed the first issue by creating larger screens. Meanwhile, cellular connections continue to improve, with upcoming 5G wireless technology promising to speed things up even more. Social media sites have helped out by offering Buy buttons, which transport customers seamlessly from browsing-to-purchase and reduce the fear of sharing credit-card information via phone.
The results are startling. Money spent per mobile visit to online retailers has increased by 27% since 2015, almost as big of a jump as tablet and desktop sales combined, while the length of time spent during the purchasing process has declined by 10%, meaning that the mobile shopping experience is becoming more streamlined.
Meanwhile, overall mobile visits have skyrocketed. Since 2015 there has been a 90% increase in smartphone visits to websites, while traffic from tablets and desktops has actually declined.
The growth in sales is phenomenal — m-commerce revenues are expected to increase from $30 billion in 2014 to $284 billion by 2020.
Physical distances are shrinking also. You can log into e-commerce websites from almost anywhere, purchase from a seller who is located almost anywhere, and expect to have your purchase delivered in a matter of days.
Now that's service.