E-commerce industry is going through an inflection point, which is largely driven by an increasing number of mobile (smartphone) shoppers.
While the e-commerce industry has been on an upward growth trajectory and is expected to surpass the US to become the second largest e-commerce market in the world by 2034, it is important for these companies to make technological shifts and one of them is to provide easy-to-use smartphone apps.
According to a report in The Economic Times, the e-commerce industry is going through an inflection point which is largely driven by an increasing number of mobile (smartphone) shoppers. pCloudy, which is into software testing and test automation, in its white paper released recently said that it is imperative that e-commerce platforms are able to keep pace with technology shifts, especially related to apps and services. To stay competitive, e-commerce companies should deploy robust mobile app testing platforms.
India’s e-commerce industry is expected to grow from USD 38.5 billion as of 2017 to USD 200 billion by 2026 while India’s internet economy is expected to double from USD 125 billion as of April 2017 to USD 250 billion by 2020, majorly backed by ecommerce. Much growth of the industry has been triggered by increasing internet and smartphone penetration, according to a report by India Brand Equity Foundation.
According to a report published by Worldpay, over 80 percent of buyers surveyed in India now prefer using mobile apps over mobile browsers, compared to the global average of around 70 percent. At an average download of 10 mobile phone apps per day and total downloads of 12.1 billion apps in 2017, India stays far ahead beating US and U.K. where the average downloads are 7 and total downloads 11.3 billion.
Avinash Tiwari, Co-founder and Director, pCloudy, said: “Mobile apps are the future of e-commerce. The inflection point in e-commerce is clearly demonstrated in how users seeking fast and efficient experiences, support for multi-tier distribution selling, and order workflows. In simple terms, what matters to a buyer today is speed, scale and simplicity."
Importance of mobile phones for e-commerce firmsA Comscore data also shows that sales from mobile devices are now leading the charge with an annual growth rate of 59 percent that eclipsed desktop at 17 percent. Given that mobile users spend 86 percent of their time within apps versus mobile browsers, intuitive and easy-to-use smartphone apps are the key to transaction conversions.Get access to India's fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code "GETPRO". Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.