We always want ease and convenience, that is why technology has built an important place in our lifestyle.
When we think of purchasing, we can’t forget about the online shopping method. But what if we do not have PC or we are somewhere outside so not be able to access our system. That is why a procedure was introduced; we can say it Mobile Commerce or m-commerce. It is a concept which includes selling and purchasing of products online through our smartphones.
This method allows users to purchase goods and services or make bill payments anywhere and anytime in the world just with one click. You don’t need to have a computer or have to present at the place where you have a system at the purchasing time.
Now the question is how this m-commerce works
We all are aware of e-commerce apps such as Amazon app, Flipkart or eBay. These apps are like the root of the m-commerce success and are download in the mobile phones through which you can perform your online shopping.
To support this, many mobile payment methods have developed which includes a mobile banking app or digital wallets that enable your transactions with 100% security. You don’t need to swipe your card or to make physical payments.
Let’s have a brief about its advantages –
Increases our convenience.
Makes easy to perform online transactions and shopping.
M-commerce makes it easy to make a comparison between all the shopping platforms in terms of prices, product quality, and reviews. (we can easily perform all the purchasing and transaction activities through mobile phones.)
Makes easy to search for your desired service or product effortlessly.
The above-mentioned benefits are for customers
Let’s have a look at benefits for businesses –
The e-commerce apps always enable notifications for a mobile device. This feature always let the customer know about your new services and products. This way has the maximum possibility of generating more revenue for your business.
Instant contact – calling feature helps your customers to reach you instantly in the easier way whenever they have queries regarding the products. And this feature is only available on mobile phones.
Apart from Notifications, m-commerce also allows the e-commerce businesses to be promoted through deals, coupons, and discounts which is send to their registered customers on their mobile phones.
The purpose of m-commerce is to make convenience for the users as well as businesses, in the process of online shopping and transactions through mobiles. The Key factor for the popularity of m-commerce is everyone now has mobiles in their pockets, so they can perform any online activity whenever or wherever they want.
Mobile commerce or m-commerce is a contemporary form of electronic commerce that involves the purchase and sale of products/ services online via wireless handheld devices like smartphones and tablets. It can also be referred to as an approach that enables users to access virtual shopping platforms without needing to exploit a desktop computer.
Some examples of this approach include online transactions, bill payments, and online banking.
Another way to define mobile commerce is a technology connecting supply chains on the go. It’s helping businesses manage their overall workflow and automate most of their delivery operations to generate higher ROI.
But we cannot deny the fact that a technology that benefits its stakeholders also brings a set of disadvantages to the table.
Here’re some pros and cons of mobile commerce to give you a better idea.
Pros of Mobile Commerce
Wide-ranging User base - M-commerce helps you connect with an increasingly larger and dominant target audience. It enables your business to attract potential sales opportunities and reach out to your customers through their mobile devices.
Detailed Insights - With an m-commerce app, you can collect insightful customer data that can be used to offer personalized services to your customers. You can monitor the entire journey - user visit, product consideration, purchase, etc.
Dedicated Engagement - M-commerce helps your team to engage with your users at the right time. You get the privilege to exploit the Ad technology that allows you to view demographics and geographies and connect with the users before they go for a purchase.
Fast and Convenient Buying Process - Taking full advantage of m-commerce solutions shall help you provide faster and more convenient buying experiences to your user base. You’ll be able to prompt swift transactions and accelerate the entire sales funnel.
Benefits Brick-n-mortar Store - There are customers that still prefer directly visiting a brick-n-mortar store but also go through the online reviews and ratings before making a purchase. M-commerce can help these stores reach a diverse set of audiences.
Cons of Mobile Commerce
Competitive Marketplace - Recent years have seen a massive adoption of m-commerce solutions. Businesses are shifting their focus towards mobile app development and understanding the importance of how mobile creates efficiencies from order to delivery. This makes the market highly competitive for startups.
Exposure to Online Risks - Most of the businesses that are willing to adopt mobile commerce have to deal with various online risks including, data malfunction, hacking, Ad frauds, leakage of business-critical information, etc.
Privacy Concerns - With exposure to the above online risks, there’s a high possibility that your mobile app can disturb the privacy of your user base and impact their daily lives.
With all the above-mentioned, you would have surely understood what is mobile commerce and how it’s disrupting the industry. Just make sure you have the right resources in place to enjoy the benefits and overcome the challenges.
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