The increasing usage of smartphones in nearly all corners of the globe has given rise to a popular new method of online shopping: m-commerce. M-commerce has not yet overtaken online shopping on computers in terms of popularity and user numbers. The market research shows that the mobile commerce trend is undeniably accelerating day by day and is destined to become the most popular device to shop online with.
The demographic group that seems to be most enthusiastic about shopping on their smartphones is the one comprised of millennials, young people aged 18-34. New data confirms that in this day and age the best way to devise a successful consumer-oriented mobile commerce strategy is by keeping the finger firmly fixed on the pulse of millennial customers.
A recent survey on mobile shopping habits conducted among 2000 millennials living in the US revealed some of the main preferences of millennial customers. The article and adjoining infographic below reports the results of the survey in the shape of 10 tips to implementing a successful m-commerce strategy targeted at millennial consumers.
- The Importance of Targeting Millennial Customers
High-school students and young adults have been reported to use their smartphones more than any other demographic worldwide. This indicates that mobile commerce strategy should primarily be aimed at targeting millennial consumers. The 2016 Smartphone User Behavior Report shows that 28% of millennials in the US prefer shopping on their smartphones rather than on other devices. The millennials that took part in the survey confirmed that online shopping is one of the top 3 advantages of being a smartphone owner. The survey also revealed that women are twice as likely to shop for clothes on their smartphones than man while high school students and young parents seem to be the ones who are attracted to mobile shopping the most.
- Growing and Evolving With M-Commerce
M-commerce is still a recent development and provides online business owners a lot of room for growth in this area. According to the survey, 7 out of 10 US millennials still choose to shop on their desktop computers rather than on their smartphones and as many as 9 out 10 millennial customers are yet to adopt a mobile wallet. Online service providers that have the most room for mobile commerce growth are those within hotel and flight tickets booking services and online fashion stores. These services were ranked the lowest in smartphone spending priorities among the millennials surveyed.
- Advertise on Social Media
In today’s day and age the majority of successful online businesses utilise social media platforms and incorporate social media into their business marketing strategy. There have been multiple studies that have reported that millennials are the most active on social media networks. Successful m-commerce strategies utilize this knowledge and target millennial consumers with social media advertising. Here are some of the facts obtained from the survey report that show just how profoundly devoted millennials are to social media sites. It was reported that 82% of high school students and young adults check their smartphones within an hour of waking up in the morning. It was also reported that 73% of millennials can not go to sleep at night without knowing their smartphone is within arm’s reach. As far as news consumption goes, more than 68% of millennial consumers use Facebook to find out about the latest current events and 21% of them use Twitter as their primary news source.
- Getting to Know Your Target Audience
Mobile shopping trends will grow and change in the future but one thing will remain constant, a successful mobile commerce strategy will always be the one firmly based on the preferences of its target audience. The survey reported that for millennials and their mobile shopping habits approximately 40% prefer to buy flowers with their smartphones than any other service or product. The survey indicted that millennial entrepreneurs are most likely to use their smartphone for ordering transport services, such as uber. High school student prefer to use their smartphone to order food and new parents and full time millennial employees use their smartphone for online banking services.