Mobile e commerce also known as M commerce was tipped to grow and it has done. Today it has over taken transactions over the internet with a power hitherto unknown, unleashing it almost with a fury upon the e commerce world. The growth of course has been stimulated by smart phones taking over the world like a tornado uprooting all that was regarded as permanent, our technology and our ideas, and replacing them with innovation.
The shopping habits of people today have been profoundly influenced by mobile e commerce. Mobiles have gained prominence in our lives and we browse on mobiles, check prices, compare reviews, pay utility bills, transfer money and shop incessantly. The ease and feasibility of finding information online has made M commerce viable and attractive.
It is not just the smart phones, but today’s customers carry out mobile transactions even on tablets as well as desk top computers. The idea is to simplify operations so that users can transact without hitches over any device they desire to.
In the segment of mobile e commerce we have online shopping. 3.2 billion People are said to have had internet access worldwide at the end of 2018 and it has been predicted that this will continue to grow at the rate of 25% per year till 2023. This means that a huge number of people will be involved in online mobile transactions. In India for example this rapid growth is blatantly visible to everyone because it is only one in ten people probably who do not have a smart phone or do not use mobile internet. Whether it is a domestic helper, a home maker or a professional, people are using various grades of smart phones to shop online and this has given a boost to e commerce. Indeed, mobile e commerce is here to stay.
Mobile users are said to be spending far more time in browsing online than desk top users because the rapid strides made to ease the methods of shopping, paying bills online or selling services has been enhanced. According to e commerce author Anna Steve, “By 2021 mobile e commerce sales are expected to account for 54% of the total e commerce sales….and….1/3 of our decision to purchase is influenced by looking up additional information on a product via our mobile device.” People even use mobile devices inside stores to compare prices and change decisions .This establishes the fact that the future of mobile e commerce is at the moment shining and inviting.
At Eunimart, our experts feel that the exponential growth of mobile e commerce has been triggered by the spike in use of smart phones for shopping and mobile transactions. In fact mobile devices are today an integral part of our life whether it is to check the weather, read the news or shop. Notable here is the use of AR or Augmented Reality that has helped companies to make smart phones and devices innovative enough to meet the required challenges.
So to ensure that your business is attuned to the future of mobile e commerce you must make use of and integrate into your business the following so that the user’s experience is smooth.
Augmented Reality Chat Bots for more sophisticated interaction Automation tools to generate reviews, loyalty programs, email and social media marketing campaigns that will offer better conversion rates and an enhanced engagement with customers.
Take care that your mobile sites are secure so that there is no question of fraud.
To accommodate the growth of mobile ecommerce retailers and stores are also equipping themselves so that they can meet the challenge. They are making their stores mobile friendly and their websites are getting a boost so that they are highly responsive to mobile users.
The future of mobile commerce is however largely dependent on the ease of digital payments on websites and online stores. The Government of India has given various schemes to boost cashless payments in this country whether it is through the mobile wallets, RU Pay cards, Paytm, Google pay or the credit and debit cards in order to discourage certain types of fraud and business transactions have become seamless. Today even the local vegetable vendor accepts Paytm payment and it is in our interest to stay that way because the future of e commerce is transactions through the mobile.
In order for this to succeed smart phones available in the market even come readymade with mobile payment options because everyone is aware that the future of e commerce is linked to mobile devices. They are the fore runner of future mobile e commerce. It is convenient, quick and easy to pay for goods and services through mobile payments. Hence retailers have been quick to integrate digital payments into their system so that customers have a seamless experience at every pay point without necessarily using a card.
When talking about mobile commerce we should not forget the innumerable banking operations that we can do thanks to the wide spread use of mobile devices which have given us the facility to sit at home and shop. We don’t just shop but in order to shop through wallets and Paytm we need to transfer the money into those options from our bank accounts thus creating a seamless chain that is very convenient to us. The best thing about this is that we have access to our finances twenty four hours and 365 days and can shop or even pay bills whenever and however we wish. The future of mobile e commerce is important because the expected growth is massive.
Every day the number of mobile users is increasing and more getting access by the day.
Mobile browsing is seen to be more popular than desktop browsing due to the ease of using a mobile device. The estimated use of mobile devices will be by more than fifty percent of the population for e commerce transactions by 2021.
Intelligent retailers and companies will thus program their mobile apps in such a way that clients get an innovative and customized experience so that they will transact and shop more and more using mobile devices. The future of this ultra competitive mobile e commerce market is bright and innovation is the key to surge ahead to establish your niche and surpass hurdles.