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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