With the increase in usage of mobile devices, e-commerce is taken over by Mcommerce. Studies say that around 97 out of every 100 are using mobile phones. Mcommerce allows consumers to have the freedom to shop in their times. Mobile devices have brought a radical change in the mode by which people access internet. Especially with the outcome of Smartphones, there is an astonishing change in mobile commerce as the Smartphones, tablets… are serving well to get the needs solved that are in counterpart accomplished by PCs earlier. Mcommerce has become the new ecommerce where customers can interact with the service or product or information providers through mobile devices.
The growing use of smartphones with access to the internet along with added circumstances like improved accessibility, secure transactions and multiple online stores readily available, prompted the user to prefer Mcommerce as it saves time and money. Mcommerce offers enormous opportunities to take advantage of advertising, marketing and thereby help people improve their online shopping. Mcommerce facilitates with marvelous customer support and reliability. Internet access for various purposes from your mobile device is million times cheaper and a thousand times powerful and easier.
What are the benefits of mcommerce?
• Easily access ecommerce facilities on the go from anywhere and at anytime
• Convenience in using, portable handheld device
• Reduced time to access, much quicker on mobiles than on computer
• Very personal in making transactions
• Real-time benefits
• Time-saver, you need not stick to a place as the mobile devices are portable
• Easy to connect – no modem no problem, your mobile network signal is enough for mcommerce
• Easy purchase process.
What are the Limitations with mobile commerce?
• Lengthy checkout process during payments
• Complexity in checkout process
• Insecure feeling to share credit card details
What are the products and services available with Mcommerce?
• Mobile money transfer
• Mobile ATM connects to mobile money platforms and bring forth bank grade ATM quality
• Mobile ticketing, for checking during travel instead of a printed form
• Distribution of vouchers, loyalty cards and coupons
• Purchase and delivery of content that includes ringtones, wallpapers and games for mobile phones
• Location based services like local offers, weather conditions and more
• Information services that includes news, stock quotes, financial records, sports scores, etc.,
• Mobile banking
• Mobile brokerage helps subscribers to take timely actions depending on market developments
• Mobile auctions
• Mobile browsing, better support for customers to shop online directly from their mobile
• Mobile marketing and advertising
What are the features of mcommerce that are different from ecommerce?
• Ubiquity, this feature lets mcommerce services available from any location or even multiple places simultaneously, like stock prices, weather etc.,
• All the services and applications are personalized for a mcommerce users. For example, advertising, auctions, etc.,
• Users involving in various activities through mcommerce are benefited with the flexibility, like while purchasing goods, banking, etc.,
• Localization helps users learn more about the local services and information. Ex: customer service, local directories, etc.,
What is the importance of mcommerce to a business?
Mcommerce is evolving to play an important role in most business internet marketing strategies. Internet access being more swiftly available in mobile devices and m-commerce being easily fit into the business process, one can make huge benefits from it. Studies reveal that very high percentage of customers are using mobile phones (especially smartphones) for accessing the internet for various purposes.
These reasons are very much enough for any business to have a mobile website, mobile app for enjoying the fruits of mcommerce.
What factors are driving M-commerce?
• Tremendous growth in consumer interest and more importantly adoption of e-commerce and internet
• The outcome of the handheld devices incorporating WAP and GPRS
• Smartphone popularity has boosted the marketing impact of augmented reality – and its revenue in 2014 is expected to hit $350 millions
• Widespread availability of mobile devices
• Fall in prices and raise in features of mobile devices is attracting people’s interest and are getting attached to their mobile devices for various activities
• Automobiles with high-speed internet access are growing, making mcommerce the better option because of their portability in carrying
Because of their user supportive features and the various services that a user can benefit from a mobile device, in a very few years mobile commerce will replace ecommerce to the most extent.