With mobile connections reaching over 7 billion, which is almost matching the global population figure of 7.2 Billion (source www.gsmaintelligence.com). It is now changing the way we do our business today. Having developed and seen the growth of many eCommerce internet marketing platforms over the years and now into more and more development of mCommerce platforms due to increasing demand and appetite from the user community, I want to explain why most B2C businesses will be forced into considering mCommerce in the near feature.
Just before I start, here are the definition of mCommerce for eCommerce for novice reader of this article:
What is mCommerce?
Many choose to think of mCommerce (Mobile Commerce) as meaning of “Shopping on a portable device rather than a traditional desktop or laptop computer, and this portable device is most commonly a smartphone or tablet.”
The delivery of electronic commerce experiences directly into the customer’s hand, anywhere, through wireless technology.
What is eCommerce?
Performing or enabling business on the Internet is called eCommerce. Ecommerce is short for “electronic commerce.”
Electronic commerce draws on technologies such as Mobile Commerce, Electronic Funds Transfer, Internet Marketing, Online Transaction Processing, Electronic Data Interchange and etc.
mCommerce vs eCommerce
|Uses mobile devices/ portable devices for business transactions||Uses desktop computers or laptops for business transactions|
|Available anyplace you go, even if there is no Internet||You need to go to a place where there is Internet to access your online transactions|
|Very handy and easy to carry||You cannot always bring your computer or laptop everywhere you go|
|Charged through the caller’s rate, deduction of user’s credit, and mobile banking||Charge through the use of credit cards that are swiped in credit card machines|
Revolutions of the past
mCommerce – 2010’s
- 37% of eCommerce sales were done from a smart mobile device in 2013
- $119 Billion in expected sales through mCommerce worldwide by end of next year (2015).
eCommerce – 1990’s
- Created an easy way for customers to shop and compare
- Allowed venders to connect with more consumers
Mobile Evolution for Consumers
|Price comparisons on the fly||More engaged||Access to discounts & coupons|
|Product reviews & product info||More empowered||Offers a single payment device|
|Feedback from friends & family||More responsive||Less clutter, more organised|
Mobile Evolution for Businesses
|Greater Knowledge Base||New Communication Channels|
|Purchase behavior insight||Location based service; relevant communications with consumers|
|Location & time awareness||Near field notifications; in store communications with consumers|
|Understanding consumer patterns|
10 latest deliveries that have flashed with ongoing mCommerce evolution
- Rise of smartphones
- Mobile optimised sites
- Mobile Apps for iOS and Android
- Mobile coupons and discounts
- Barcode, QR and NFC Support
- Global Positioning System (GPS) based services
- Augmented Reality
- Mobile Wallets
- Social Commerce
Current leading industries that have adapted mCommerce
- Fashion & Beauty
- Food & Beverages
- Software Applications
- Airline Ticketing
- Education Materials
The growth of mCommerce
As per the list above, B2C businesses like airlines and retailers have already adapted to this very well. In my view we are going to see a tremendous growth in mCommerce and it will become the way of doing business for many. Your consumers have the appetite and are ready for this. Is your business ready for this? Some B2C business may not have a choice other than quickly adapting to this technology.
What do you think? I love to hear your views?
Data Source from: Getchee & Forrester Research
Mobile Market Domination – An Infographic
How can mobile apps increase your sales performance? – Digital Marketing Digest
Does your Business Require a Mobile App? – Business Tips to Think Digital
New opportunities for mobile marketing with increasing Android smartphone shipments – Digital Marketing Daily