Mobile commerce is the delivery of advanced electronic commerce capabilities directly into the consumer’s hand, anywhere via wireless technology. This simply means m-commerce is a retail outlet in your customer’s pocket.
Mobile commerce is not a separate entity from e-commerce; instead, it’s a more specific sub-group of e-commerce transactions that involves the use of smartphones and tablets instead of desktop and laptop computers.
Lately, mobile users have exploded around the world. They find the idea of easier, convenient e-shopping fascinating rather addicted to it. As per a Statistics report, the business value of worldwide m-commerce will reach $1000 billion in 2020 and $1300 billion in 2021.
Mobile continues to play an increasing role in the success of ecommerce. By 2021, mobile ecommerce sales are expected to account for 75% of total ecommerce sales.
In addition to using mobile to make purchases, customers also use mobile to research purchasing decisions before buying either in store or on a desktop. An estimated 73% of customers say they like to browse online before making a purchase in a store
Customer’s comfort with mobile shopping has grown, and thus the industry can no longer ignore the significance of mobile in the ecommerce world.
The Internet has changed the way that we consume.
Today, more than ever, buyers have the power to purchase items from virtually any retailer in the world. That’s why the ecommerce industry has been booming.
Advancements in technology are also changing how consumers behave and how they purchase products and services.
Look around you. It seems like everyone has a smartphone glued to their hands at all times.
So it’s no surprise that more than half of all Internet traffic comes from mobile devices.
But mobile users are doing much more than just using these devices to browse online. They are also using phones and tablets to buy.
In fact, 62% of people who own a smartphone have made a purchase using their device in the past six months.
Simply put, people are using mobile devices to buy.
From a business perspective, you need to recognize the latest mobile trends and adapt accordingly.
There are two main ways for consumers to make purchases from mobile devices. They can buy from mobile websites or directly from mobile applications.
Some of you may already have a mobile friendly website. But that’s just not enough.
You need to develop a mobile app to maximize your revenue opportunity.