Reasons Why Retailers Should Focus on Mobile Commerce
14 Mar. 2015 Mobile App
According to online retail data leader comScore – retail merchants and shoppers are going mobile in larger numbers. The growth in mobile digital commerce is expected to have grown by 25% over the last season, which is almost double the growth of desktop E-commerce. This growth in digital commerce is expected to reach 16%, which is merely $61 billion. This article explains the various factors helping to grow retail sales through mobile commerce.
Mobile Commerce or M-Commerce has been a buzzword ringing bells to every retail and brick & mortar merchant linked to the tech world. To put it in simple words, Mobile Commerce simplifies transaction of goods or services traded through mobile devices or smartphones.
m-Commerce has already made its presence acknowledged by changing the mobile into a channel facilitating reliable & secured transactions like, banking, payment and ticketing. Despite the concept being widely known & acknowledged as an equivalent of e-commerce, many of its facets are still unexplored & unknown to masses.
Reasons for Growth Of Mobile Commerce:
- Increased investment- Investors are funding mobile startups, including app developers, and creating new companies that drive significant growth.
- Infrastructure improvements- Mobile infrastructure have improved to make the smartphone experience more efficient, robust, useful, enjoyable, and fast. Purchase processes that were agonizing and difficult, are now simple and secure.
- Increased mobile optimization- When websites were viewed on the first mobile browsers, it wasn’t a pleasant experience. Now, with tech savvy website owners publishing simple, mobile-optimized sites, the browsing experience has improved by leaps and bounds. Mobile purchases have followed closely behind, as technology can now finally meet the pent-up demand for smooth, secure mobile transactions.
- Better devices- Smartphones and tablets with more robust features are keeping users increasingly engaged and active. In fact, within the next few years, mobile traffic and activity is projected to surpass desktop/laptop traffic and activity.
To the m-Commerce user’s delight, along with the developed economies, now developing countries are also embracing the concept with surprising speed. With most of the common services accepted well by the English speaking markets, African countries like Cameroon, Congo, Ghana, Ethiopia, Kenya, etc. are taking a more liberal approach while drawing financial guidelines to promote the use of Mobile Commerce. This will surely add more vigor in the rapid growth of m-Commerce, expanding the market reach & accessibility for more commodities & services.
A few other areas apart from mobile commerce that you would want to keep an eye on for drastic changes are:
- Mobile Wallet
- Location based Services
Going by the statistics, the number of mobile subscribers is expected to surpass the number of retail banking accounts in a couple of years all across the globe. This will surely lead to Mobile becoming the Channel of Choice, not only limited to basic shopping & selling experience but to more complex activities. So keep a watch on it…!
Rishabh Software understands the needs of the changing technology environment in the retail business. We believe in enabling our clients to leverage technology to their advantage through enterprise mobile and cloud solutions customized just for their business. Have a look at few of our retail ecommerce development services.