Smartphones and tablets are increasingly becoming the medium of entertainment, shopping, social media engagement, gaming and many more. As users can carry smartphones anywhere, they like the idea of buying an item on the go they come across as a good deal. They dont want to wait to get home and get online on their PCs to place the order as their is no guarantee that the product would remain in stock by that time. Moreover, shopping apps and websites are also so well designed that smartphone users can have clear view of products available from various retailers online, making them rest assured that what they see is exactly what they will be delivered at their doorstep.
Another factor that has turned to be a boon to Mobile Commerce (M-Commerce) is growing trust of customers for online shopping - secured payment gateways, reliability over no sharing of their bank details with third parties, etc. Smartphones from almost every brand are now coming with bigger screens to give buyers a clear view of everything they come across online, perhaps this is where the concept of phablet emerged from.
M-Commerce is setting out to rule the world and become omnipresent - retailers now must acclimatize to this ubiquitous concept to be ahead of their competitors. Besides, retailers need to find a way as to how to sell products to buyers who come to their brick-and-mortar stores and compare prices for the same products available with other retailers on their mobile phones.
Exploring products online and making a purchase is no more a data usage issue, which is why more and more shoppers are making purchases online. Once a shopper finds a product through search results it takes not more than three pages to complete the order, which gives a buyer pleasing experience, unlike past when slow loading and gratuitous details often annoyed and discouraged online shoppers.
Why M-commerce is growing in popularity?
Mobile apps and web apps make it a doddle to book tickets online, order food to satiate your hunger, choose from panorama of clothes to make a fashion statement, and what not.
Mobile-friendly shopping experience is tempting users to make more and more purchases via smartphones.
Online retailers have gained the trust of shoppers that their credit card details and personal information will not be compromised by any means.
Two-third of all mobile users access the internet using their smartphones, which increase the chances of them see retail products online and go ahead with purchase.
Good internet connectivity and low data consumption is also playing a significant role to urge users go online using their smartphones and find what they are looking forward to buy.
Shopping apps and websites are engaging and add a fun quotient for online shoppers. They have a clear view of what they see and do not doubt what they are going to be delivered if they place an order.
No annoyance of giving too much information to purchase an item online makes shoppers avoid traveling to a real store to buy something that they can buy with ease through their mobile phones.
Goldman Sachs estimates that consumer spending via mobile will jump from $204bn to $626bn in 2018. Developing countries like India, China etc. are making the biggest retailers worldwide wait in the wings to tap into the power of emerging M-Commerce. Going by estimates of the Internet and Mobile Association of India, Internet users in India will reach the 354 million mark. Of them, 213 million will be mobile users.
Its not only large companies that are going to enjoy the benefits of M-Commerce, but SMEs can also increase their sales through M-Commerce paradise, provided they get their mobile marketing strategies right and focus on developing immaculate apps and websites.