The landscape of e-commerce business is ever-changing. Sometimes it can be exciting, other times, just too overwhelming. The ups and downs in this domain are inevitable, yet the marketplace is expanding bigger and brighter with each passing day.
Understanding the growth trends, and curating new ideas accordingly is a vital step for any e-commerce business. It helps you develop and maintain a successful business. In this article, we will discuss:
- Features of an e-commerce app
- How do apps help stimulate any e-commerce business
- The future of e-commerce: growth trends
10 Must-Have Features Of An E-commerce App
Convenient Registration & Login
Easier access translates into a higher conversion rate and sales volume. Users don’t want to fill in a lot of data to start using the app. Quick and easy entry point makes a mobile online store much more accessible. This is one of the most important features of an e-commerce app.
Home Page With Search Options
A simple yet attractive home page where users can search and view all products (suggested, top selling). The search option will allow them to help them look for items they wish to purchase.
Product Filtering & Sorting
You need to implement functional sorting and filtering options if you wish to offer a wide range of products. It is important to reduce the number of steps for customers to find the product they need. This will increase sales and deliver a positive user experience.
This allows you to present the products to your customers with detailed descriptions. Users can also filter a product based on various specifications (quantity, color, sizes)
It is one of the top mobile app features. It builds a positive user experience purchases. It also saves a lot of time. Suppose a user adds a product to the cart and later they don’t want to proceed, they can always return immediately.
Options For Shipping
This feature informs the user about the available shipping options. You can also display:
- How much each of them costs
- What is the estimated delivery time for each option
Secure In-App Payments
One of the most crucial features of an e-commerce app. When you offer a selection of secure payment methods, you streamline the process of completing the purchase and deliver a great user experience. Customers can pay for their orders quickly and securely.
Returns & Status Updates
Developing an easy and quick returns process is important. The procedure to return and check its status has to be very clear and easy. It should eliminate the fear of being misguided. This will enhance transparency and build a trust factor.
Product Reviews & Ratings
This is one of the most helpful features of an e-commerce app. Users would want to see the reviews and ratings of a product, and place orders accordingly. This feature also enhances transparency and build credibility of the app.
Sales & Discounts
This feature is just as effective in e-commerce apps as they are at brick-and-mortar shops. This helps you notify customers about upcoming events, improves the user experience, and increases sales. You can also segment your audience effectively by using advanced analytical tools and personalize the notifications to deliver the right products to the right customers at the right time. It is simply the best way to maximize your ROI
Product Availability Reminder
This option is not implemented by many businesses. But it is one of the most vital features of an e-commerce app. If a product runs out of stock, users would want to get a notification regarding the re-stock.
Apps Stimulate Any E-commerce Business
81% of the population owns a mobile phone. Just look around, everyone is glued to their phones almost 24*7. Entrepreneurs should acknowledge this fact, and leverage it in the best possible way. An e-commerce business can never reach its fullest potential with a website alone, a mobile app is a must.
Sales from mobile apps have increased by 67% worldwide. It is projected to reach 73% by the end of 2022. The reason is very simple: Consumers prefer mobile apps for any kind of purchase. Convenience and speed are the driving factors. Moreover, it offers a way better shopping experience.
Being an early mover and building an app for your business can help you win an edge over your competitors without one. In the US, 95% of people have an Amazon Prime Membership. Every e-commerce business is trying to replicate the “Amazon Experience”. The simplest way to crack this is by developing an app.
At the end of the day, everything we do is to boost our KPIs. Let’s take a look at the statistics.
The purchase rate is 85% higher when they’re shopping from an app as opposed to a browser
Mobile apps are a great way to improve marketing communication. This helps entrepreneurs generate more profits.
Push notifications increase engagement rates by 60%. Consumers react to notifications over emails, clearly because they don’t have to do anything other than clicking. With push notifications, a message appears directly on a user’s home screen, just like a text. When the user clicks, they are directed straight to the app. This makes it much easier for them to buy.
Mobile apps boost average order value compared to mobile and website browsers. It gives users more opportunity to see what the business is offering.
An app increases customer loyalty. 82% of customers are more likely to shop from sites that offer loyalty programs. Entrepreneurs can base their programs on a transaction. (Order something of a certain value for thrice, get a discount the 4th purchase).
Attracting new customers is 25 times more expensive than selling to an existing one. Increasing customer retention rates by 5% increases profits by 25% to 95%. If your business has an app, chances are users will return to the app more frequently.
Future Of E-commerce – Growth Trends
- Global e-commerce has shown a tremendous spike over a couple of years. It is expected to hit $4.9 trillion by 2021. This is approximately 265% growth (1.3 trillion in 2014 to $4.9 trillion in 2021). The future shows a steady upward trend with little or no signs of decline. The worldwide retail market alone is expected to account for 17.5% of the total e-commerce business. The portion is still considered a small chunk, which means there is more opportunity for entrepreneurs to co-exist. To capitalize on this trend, they must consider making the business both offline and online. Online business helps elevate brands in better ways.
- Omni-channel shopping will become more prevalent. 73% of customers tend to use multiple channels during their shopping journey. Entrepreneurs need to decode a customer’s buying behavior (what, where, when, why, and how). Touch-point is important because it puts every single piece of the puzzle into a whole story. Knowing your customers’ touch-points before they purchase will better inform your brand of how to promote your products and allocate your marketing budget.
- Social shopping has taken a serious uptake with the improvement of social media’s selling capabilities. Entrepreneurs must take full advantage of this trend. Social media platforms are more than just advertising channels. People can conveniently and quickly purchase products on their chosen social media platforms. Instagram, Twitter, Pinterest, Facebook, and YouTube are among the finest channels which rolled out the “buy” buttons and made significant improvements to their social selling features.
- The center of e-commerce is shifting from the western hemisphere. The rise of globalization, improvement of technology, and infrastructure in the non-western regions is the reason. Entrepreneurs must adopt an international approach to ensure global accessibility and convenience.
- Cross-border shopping has been spotted. Statistics show that 57% of online shoppers make an online purchase from an overseas retailer.
- B2B e-commerce will become two times higher than B2C. B2B eCommerce sales will hit 1.184 trillion dollars by 2021. This implies that entrepreneurs must improve and adapt to more seamless functionality.
- Gone are the days when personalization was just about acknowledging a customer by name. It has now evolved into a marketing strategy.
- Mobile apps have revolutionized customer buying behavior and engagement. 54% of customers prefer using an app for shopping activities. The number has gone up since 2016. This growing ubiquity of mobile usage in e-commerce is because shoppers aim to make easy and convenient transactions without having to go through a desktop.
Choosing the best features for your e-commerce business is a critical step. Developing a powerful app with those features is even more critical. That is why it is always better to take an expert’s help. They will provide a robust solution, and help you attain success in your business.
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