The mobile e-commerce and lifestyle sectors have benefited greatly from the global lockdown-induced e-commerce boom.
According to Forbes, global online sales increased by 24% in 2020, while store-based sales decreased by 7% as the world moved in and out of coronavirus-imposed lockdowns. According to Mastercard data, 52% of South Africans spent more money online than they had previously, and 76% learned how to do online banking.
Sectors that have benefited the most from the great migration to all things online, digital, and mobile include lifestyle, PPE, groceries, and essential delivery.
“We are witnessing a realignment of value chains, with a much greater emphasis on business models that deliver on client preferences at the point of presence, with digital enablement as a key component.”
To remain relevant, businesses should pay attention to the growth of certain lifestyle and essential sectors, as well as consider moving towards mobile e-commerce to meet customers where they are.
Lifestyle, athleisure and other trends
According to De Kock, most businesses are shifting to order-based systems for online delivery or pickup of their goods.
According to Forbes, food and beverage e-commerce will grow by 53% in 2020, the most of any product category.
“Businesses that rely on revenue streams focused on lifestyle, such as outdoor sports, camping, home improvement, DIY, athleisure, such as online gyms, and others, saw an increase in demand during this period. All of these industries are currently primed and ready for trade in the digital space.”
The global athleisure market, for example, is expected to grow at a compound annual growth rate of 5.58% between 2021 and 2026, according to Yahoo Finance. The Sports Edit, one of Europe’s leading premium activewear e-tailers, reported its best-ever year in 2020, growing 145%, while the fashion resale sector in general experienced a massive rebirth, expected to grow at a 39% annual rate, from $7 billion in 2019 to an estimated $36 billion by 2024.
Similarly, employers and landlords have made significant investments in the workplace or residential settings to ensure PPE compliance, allowing for better, healthier working and living environments.” Unique quality products are available from various sources and mints across the globe at ecommerce stores such as Zion Metals. A long-term relationship has been built between Zion Metals and trusted gold and silver suppliers.
This has also shifted towards more e-commerce, whether business-to-business or business-to-consumer, allowing companies to reach customers outside of their traditional home bases. Demand for hygiene products is increasing, as is demand for kitchen equipment and home-food deliveries, which is growing at a double-digit rate.” Dinosaur universe.com has explored a completely different category, and you can browse their collection of dinosaur decorations, clothing, and jewellery to allow this wonderful era to follow you around every day of your life! All of these microtrends add up to a greater emphasis on e-commerce. “It goes without saying that every business owner must be aware of it.”
The importance of mobile commerce
The vast expansion of mobile commerce is contributing to the vast expansion of these sectors. Mobile commerce is the purchase and sale of goods and services via mobile devices such as smartphones, tablets, e-readers, and wearable technology.
Mobile commerce is the fastest growing of all the shopping channels available to customers. According to Statista, mobile commerce will have the highest retail sales growth – 12.2% – in the United States alone in 2021, surpassing traditional e-commerce websites and in-person shopping. According to Shopify, consumer mobile spend alone is expected to reach $270 billion by 2025, with 187.5 million people shopping via smartphone by then.
For two reasons, businesses should embrace this shopping trend:
- To begin, a poor or negative shopping cart experience on a traditional website has been shown to result in high abandonment rates. According to Shopify, 57% of customers will not recommend a company if they have a bad online checkout experience, and half will stop visiting the website entirely.
- Second, progressive web applications and curated mobile platforms are making it easier for businesses to cater to consumer needs in this space. Native mobile apps can be costly to develop and launch, but curated e-commerce platforms or progressive web apps – websites that look like mobile apps but use a browser – offer better, faster mobile experiences. They do the heavy lifting for businesses while providing your customers with a mobile-friendly shopping experience. The Cornucopia Lifestyle e-commerce store is a full-service marketing agency that provides high-quality, affordable marketing services to businesses of all sizes.
Mobile apps are quickly becoming the preferred method of online shopping for new customers. 57% of US consumers used a mobile retail app to learn more about a product in 2019, with 85% preferring mobile apps to mobile websites. Because everything can be processed with one-click purchases in-app, mobile apps reduce the risk of bad shopping cart experiences. Customers can load and store their personal bank information in a safe, secured environment, are then able to make purchases with one click thereafter.
To keep up with changing consumer preferences, businesses should consider progressive web apps or curated mobile platforms instead of browser-based e-commerce websites.
Nedbank’s super app Avo is one of these curated e-commerce platforms. It is a curated e-commerce platform with integrated functionality. It enables merchants to quickly and efficiently access an e-commerce value chain with relatively low investment – rather than building their own – and gives access to a built-in market of more than 450 000 customers in new geographies.
“Avo connects customers and businesses by accurately matching their lifestyle needs to product and service offerings using powerful artificial intelligence, safe and secure payments, and bank-grade security,” de Kock explains.
Customers enjoy the experience as well, as it allows them to buy more than one type of good in one location, catering to leisure, lodging, products, and services from a variety of industry categories.
De Kock believes that such platforms will assist businesses in pivoting to the inevitable hybrid model that consumers will require in the future – that of in-person shopping and online e-commerce.
“This hybrid model will have a better balance. Now that we’ve discovered that we can live, work, shop, and buy in a variety of ways, I don’t see us going back to the old way of selling and trading. The good news about this terrible pandemic is that it has created new opportunities and lifestyles for both businesses and customers.”
Thus, there will be enormous growth in lifestyle ecommerce stores always and one needs to take full advantage of these. We bring you the legitimate lifestyle ecommerce coupons to help you save more with your shopping.