Latest Trends in Mobile Commerce and its impact in business

There is an increasing trend in grabbing the mobile app and technological developments that are taking place in the present market. Any type of business can be handled with the help of m-commerce such as a tablet that can help making transactions in a petrol pump store or assisting sales procurement using a mobile website– a whole lot is possible using the mobile environment!

According to Martine Reardon, Chief Marketing Officer, Macy’s, “As per Goldman Sachs & Co., mobile commerce last year was $204 billion, a number set to increase by nearly 50 percent this year and to top $415 billion in 2016 – all sales generated via smartphones and tablets. However, mobile’s impact on driving sales to retail stores is even higher, and hard to calculate but easy to recognize in its influencing potential.”

Enhancing the avenues

If the marketing leaders are keen on promoting emails on smartphone, communicating with companies through social media apps, customers anticipate comfortable network operations through the mobile devices.

Michael Kopp, technology strategist and evangelist at Compuware APM Center of Excellence, says that he sees as five top mobile-commerce trends to watch for are:

  1. “Mobile will be mainstream business and will grow to dominate client computing for e-commerce.

  2. Native mobile apps will continue to prefer by consumers over web based applications because they are more responsive. While apps may be preferred, it is a mistake for companies to ignore mobile sites however, as mobile visitors tend to be situational – when an app is available on their devices, they will use it, but they will use the mobile web when an app is not available.

  3. Windows 7 laptops will continue to dominate the workplace, and Apple will dominate the corporate tablet market. On the consumer side, it will be far more varied, with a slow steady adoption of Windows 8 on the laptop/desktop side and a fight between Apple and Google for the mobile market (tablets and phones).

  4. Personalization will grow. Your mobile device will learn your habits and predict your next move to provide you with proactive services such as providing custom menus in restaurants that exclude foods you don’t like or have allergies to.

  5. SmartTabs will do both well. Phones and smart tabs will continue to be dominant, but watch for new form factors, such as wrist devices, etc. While mobile is here to stay, the form factor will continue to evolve.

Mobile as ‘Point of Sale’ device

Retail companies have embraced the mobile point-of-sale (POS) devices for the in-store transactions with employees as well as customers. ‘Leaf’ is a POS system where their clients have taken up tablets and smartphones for their in-store orders and other purchases.

According to Drew Lewis, Leaf’s Product Marketing Manager, “Mobile POS also provides small businesses with benefits that help improve their bottom line, such as accurate business reporting, improved projections and the ability to accept nearly any type of customer payment — not to mention that they can manage their employees and access sales data using any mobile device.”

They have also tried introducing ‘mobile wallets’ which enables your smartphone to make in-store payments without your credit card/ debit card.

Using Mobile from the consumers perspective

Depending upon the mobile design, the statistics of less mobile purchases compared to a direct one will be able to shift only when the design is more responsive to the user, according to a survey.

It was found that consumers found difficulty in entering credit card information since it was hard to read and doesn’t guarantee any easy procedure, according to Seamas Egan, Manager of Revenue, Campaigner.

Conversion to mobile app

Today, small businesses have come up with their own apps themselves but the conversion rates of the consumers to the app segment have put the cost ratio in a quandrum. The rush to fill the mobile app market has grown very competitive while the performance was not linked to favorable environment in terms of sales. For eg., from the app URL, one must connect to the purpose of completing the transaction.

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