The world is moving from analog to digital. Digitization has a profound impact on all areas of life, including work and business. Key enabler for digitization is Mobile technology and it has been advancing at a very fast pace than ever.
Thus mobility have become mainstream and many consumers use e-commerce mobile apps to view product reviews, make price comparisons, and find information about products while they are shopping in-store.
On the other hand for businesses, Smartphones and social media enable them to connect to the customers in the most effective way possible. It enables them to keep their customers updated with the release of new products and services. Thus the quick and effective communication enables to maintain strong business links and customer loyalty.
The significance of mobile commerce in the record sales seen in Alibaba’s singles day and Amazon’s Cyber Monday is remarkable. Hence it shows that world started to accept the digitization in their shopping behavior and enjoy its benefits more in holiday seasons.
Mobile dominates online sales – A trend Analysis
Amazon’s Cyber Monday-Record sales
‘Cyber Monday’ quickly becoming one of the biggest online shopping days of the Year. In 2017, Cyber Monday online sales grew to a record $6.59 billion, compared with $2.98 billion in 2015, and $2.65 billion in 2014.
However, the average order value was $128, down slightly from 2014’s $160. Cyber Monday has become the online equivalent to Black friday and offers a way for smaller retail websites to compete with larger chains.
According to the survey conducted by Amazon, small businesses set records with their Cyber Monday Amazon sales. Amazon shoppers hired nearly 140 million units from small businesses.
In many ways, it replicate the development of e-commerce as an industry. As Cyber Monday has grown, digital sales have expanded throughout the online and instore holiday sales.
At the same time, mobile set a new record sales on Cyber Monday with 47.4% of site visits, about 40% of visit with smartphones making. Hence Cyber Monday can also be called as Mobile Monday.
According to Adobe, the smartphones specifically accounted for 24.1% of Cyber Monday revenue. Fact shows that, the revenue from smartphone on Cyber monday grew 39.2% year-over-year, marking a new all-time high.
Alibaba’s Singles’ Day-largest online shopping event
What is Singles’ Day
Singles’ Day Shopping was originally meant for people who wanted to celebrate being single. Retail as entertainment is one of the hallmarks of Singles Day. Though celebrating events has turned into more of a retail event.
To add on to this joy, Alibaba’s Singles’ Day Shopping Festival offers combination of commerce, entertainment and an exuberant celebration of consumerism.
Record sales for Alibaba in Singles’ day
Last year, Alibaba grossed $17.8 billion in sales on Singles Day. That volume came from 1.5 billion transactions, most of which took place within the first 12 hours of shopping. The internet enabled devices have remarkable role in holiday sales.
According to PYMNTS, about 90% of Alibaba’s sales were handled through mobile on Singles’ Day. Hence it increases from last year about 82% and also 69% by 2015.
According to Ant Financial, the wallet’s parent company, the international reach of Singles’ Day aiming to generate 60% of its volume from international markets by 2026.
Technology helps to maintain customer relations more easy, quick and efficient with the digital media tools. The rapid rise in smartphones allow companies to stay connected to consumers through the relevant channels. Thus it helps businesses to retain their customer and gain customer loyalty.
That is the reason why Alibaba and Amazon, outperformed in singles day and Cyber Monday with a captivating record sales.
At the same time, the question will mobile commerce crosses e-commerce by 2021 is also becoming more relevant.
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