While e-commerce is growing at a rapid pace in the retail domain and others, it has come for the time to embrace mobile commerce also which even more growing better than the e-commerce. There is not much understanding among the retailers as much as they do in e-commerce sector as with the m-commerce. There’s isn’t a clear strategy formulated for providing services over mobile for mobile customers have already sprung up everywhere.
So, if you do not cash in on the mobile-friendly atmosphere it might give you a lot of downside condition as far as your business is concerned.
We’ll give you the causes for adopting and optimizing your opportunities in an m-commerce domain as well:
To define Mobile commerce, it is the same as electronic commerce whereas here you use wireless devices like smartphones, tablet PCS and other handheld equipments. You can say its an extension to e-commerce business proceedings.
The important aspects in m-commerce is the app development where you need to develop interactive designs that is user-friendly that will fit into the small screens.
People have come to understand that there is a surge in the use of mobile phone users who are turning over to the use of smartphones and tablets to work on the internet. Statistics states that nearly 30% of mobile users are smartphone users.
And there is only an increasing trend in the use of mobiles who will also use online transactions. With over 2.23 billion people use online through mobile and it is still growing at the rate of 15.6% during 2014 we see only further steep rise in the coming years too. In United Kingdom the smartphone users might outstrip the desktop users.
Another research has discovered that two-thirds of mobile users access internet through their phone. It may not be a sure indicator that they might be buying only on mobile but it goes to show their mobile behaviour too.
If the age group between 18 and 34 including male and female who will use internet over the phone then will it be likely that they engage in online shopping as well ? So, what we must concur from this is how do we make this mobile-friendly considering these numbers/
Apart from this, there are mobile alone users existing in India and Indonesia and a considerable population in US as well. This again is around 34% of internet users through mobile only.
Mobile Sales Growth
Statistics show that sales is also growing at a rapid pace through smartphones that is around 101% in 2014 in US.
The average order value on purchases through smart phones have risen to 12% which in turn have increased the conversion rates to 29%. this means that 29% of transactions are conducted in mobile transaction alone in US during 2014.
Quite a number of statistics prove that more number of mobile transactions take place. Paypal handled nearly $27 billion in 2013and Alipay around $150 billion worth of mobile transactions.
It is expected to grow in 2014 by $114 billion out of which $76billion from tablet PCs and others from smartphones. By 2016, it is expected to touch $86.8 billion proving the fact the it is going to stay as a trend and survive.
Companies like Goldman Sachs are quite hopeful of the growing trend in mobile commerce by projecting a $204 billion of transactions through mobile by 2018.
Research during 2012 suggests that nearly 63% will be shifting to mobile shopping by the coming years. These are findings that make sure that you definitely need to consider mobile commerce your fore.
The ads that are spent on desktop will also decrease in 2014 compared to mobile search ads expenditure to increase up to $9.02 billion. But the growth of mobile internet usage is seeing an upward movement it is definitely going to shift to mobile advertising than the desktop ads.
Mobile vs. Traditional sales
Nearly 88% of the people during 2012 will be positively shopping over a mobile. Whatever your business might be whether it is real estate or timber mart you can try opting for a smartphone app with mobile-friendly features , it does a little help.
The objectives of the people to use smartphone is high with nearly 60% and 53% for tablet and smartphone respectively. Proof is the Starbucks profits during 2013 which was around $1 billion through mobile transactions which is offering a mobile app with loyalty features. For a retail store they need not look into this segment while it is already a big traditional sales giant.
Mobile friendly features
Make sure you develop a mobile friendly feature even if you have dedicated website. A study in 2012 shows that nearly 67% favoured a mobile-friendly site in order to make a purchase or service. Customers’ get hurt if they are not given a mobile-freindly version. Nearly 52% of users say that bad mobile experience will lead them to drop out from the company. Therefore, a mobile friendly design and interactive response design is the key to improve your business prospects.
Much said and done, mobile commerce is not only a growing trend but also seemingly competing with e-commerce environment. So, its important to welcome the good aspects in mcommerce so that you dont feel left out.