3 groundbreaking technologies reshaping mobile commerce in 2017

Mobile commerce is evolving rapidly as people embrace new ways to shop and pay

According to Statista “mobile retail sales are expected to more than double between 2016 to 2019, from about $116 billion to about $267 billion”. Retailers must not take these numbers for granted. What’s more, they should get familiar with the latest technologies in mobile commerce and use them to engage with customers on a new level.

To help you with that, we decided to dig into 3 very powerful technologies which have started a disruption in mobile commerce. Read on to find more about these technologies and how other companies are utilizing them to deliver better customer experiences and improve their bottom line.

Augmented Reality

Not long ago, the idea of virtual reality sounded like science fiction. At present, the forecasts are that virtual and augmented reality will soon dominate the mobile commerce.

Take, for example, the automobile giant BMW incorporating augmented reality to cater to their customers’ needs and deliver superb experience.

Earlier this year, the company announced the release of a Tango-powered mobile app which places a real-size 3D model of BMW cars in your surrounding environment. Via the app, you can get a real feel of the car by walking around or you can step inside to explore the interior.

Virtual Reality

On the other hand, more and more companies are recognizing the potential of virtual reality (known as VR) and are starting to leverage its power quite successfully.

Among them is the Chinese retail giant Alibaba that introduced a full VR shopping experience. Utilising VR, the company allowed customers to browse items through virtual stores, as they were walking through physical stores. They could even make instant purchases by only nodding their heads.

This is not only interesting, but projects of this kind can bridge the gap between online and offline worlds, between mobile commerce and brick-and-mortar.

Beacon technology

Beacons are a perfect example of how digital and in-store channels can be unified to create unique value for customers. But what are they all about?

Beacons employ Bluetooth low-energy (BLE) wireless technology to pinpoint the location of customers in stores and other places. By doing so, beacons enable retailers to interact with customers in a better way and deliver more personalized messages straight to their mobile devices.

The retailers having beacons in place, take personalization to new levels, where the retailer’s app send timely messages to customers walking past the store or leaving the location. It’s a sophisticated and nonintrusive way to capture their attention and engage with them.

The technology was first introduced by Apple but over the last number of years, other companies also leveraged the power of beacons to enhance the way they communicate promotions and products and drive more foot traffic and sales.

If you think these cutting-edge technologies would require major investments and your small business cannot afford it, why not start small?  For instance, you can consider adopting a full-service payment platform like myPOS to accept in-store, online and mobile payments.

Sounds like a good idea?

If so, get in touch with our team at [email protected] and they will tell you more about our innovative solutions.