M-Commerce has become a buzzword in the eCommerce industry. M-commerce has transformed the eCommerce business approach towards customers. People can make transactions with their mobile devices. People largely like making purchases online from their mobile phones, adding to the popularity of M-Commerce. There are several M- Commerce advantages and disadvantages; but the list of advantages stands longer and stronger than the petty disadvantages.
What is M-Commerce or Mobile Commerce?
M-Commerce or Mobile Commerce refers the directing of online business activities via mobile devices that may include smartphones or tablets, across a wireless internet connection. M-Commerce offers a perfect online shopping experience on a mobile device. M-Commerce has increased the accessibility of consumers to goods and services, while assuring access to information and connectivity at any time. All this very well explains the importance of m-commerce in the current market.
There has been an immense growth in smartphone and tablet ownership over the last few years, making M-Commerce more and more popular. M-Commerce is likely to emerge as a leading method of marketing and selling with the multiple applications that are showing up. It has made the process of shopping, payment and delivery of products seamless and hassle-free.
Research reveals that the number of smartphone users globally will reach up to 2.87 billion by the end of 2020. Both small and large businesses benefit from M-Commerce. You will notice a consistent growth in the number of smartphone users, expanding a large and thriving marketplace for several goods and services. You will also find companies offering Marketplace Website Development Services to facilitate M-Commerce for you.
Benefits of M-Commerce:
1. Easy store Access-
M-Commerce makes it easier for consumers to discover products available in the market via wireless devices. Customers do not need to travel to the store to purchase goods or services. They can just come online and get their work done. This reduces effort, saves money and also time. If you are a site owner, you can easily make continual updates and make enhancements to deliver your eCommerce site better than before.
2. Enhanced User Experience-
Customers nowadays are totally aware about how to navigate to desired products in several clicks. Customers also tend to share their shopping experience with friends and groups and make recommendations based on their experience. Hence, offering a smooth user experience is a must to increase your sales. Your mobile app must be fast, convenient, interactive and exclusive.
3. New Marketing Channel-
M-Commerce helps you build a new marketing channel. You can sell your products to your end-users really fast with your mobile app. Mobile apps serve multiple purposes that include general information, search features, news feeds, product prices, and the like.
All the information you want to display about your brand is at the fingertips of your customers. Push notifications, personalized emails, etc. enable a direct interaction between your brand and your customer. You can easily remind your consumers about your products and services, whenever you want.
4. Location tracking with notifications-
Location tracking helps you to provide assistance to your consumers while navigating directions or helping them discover nearest stores, and things like that. Hence, when a client subscribes to your brand, you can send location-based push notifications with personalized discounts.
This helps you increase your sales and gives you a greater possibility of conversions. Research says that push notifications provide two times higher conversion rates as compared to marketing emails.
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5. Traditional Retail Sales benefit-
M-Commerce assists you in your traditional retail sales. Often customers look and explore your products online and then visit your retail store to purchase it. Also, your online filters eliminate the hassle of your customers having to go through all your collections manually at your store.
For retail store owners/ staff, it would become very difficult for them to manually update data. M-Commerce eliminates this hassle too.
6. Cost Reduction and Productivity-
M-Commerce helps you reach your customers faster while reducing your expenses involved in traditional marketing campaigns. Mobile apps reduce the costs of SMS notifications, paper newsletters, and brochures.
Also, if your app comes with social media integration, your customers themselves will spread the word, without you having to do anything. Later on, you can earn from placing ads within your app itself. M-Commerce simplifies client communications via secure, instant and direct messages. It cuts down the crew workload because they will not have to send information requests or make phone calls anymore.
7. New Consumer Base-
M-Commerce has the potential to bring new customers. An optimized M-Commerce does not just help you to hold your current customer-base, but also attracts new buyers who come to have a look at your online store and find it interesting and reliable. Mobile searches are one of the essential means that consumers use to look for information, and hence, M-Commerce increases your likelihood to be discovered by the purchasers.
Also, mobile-retargeting works well in this respect. When you display your ads to those who have recently visited your site, you actually try to convince them to come back to your site and purchase the items they had looked at.
8. Higher ROI-
A Google research shows 67% of people say that they are more likely to purchase from a mobile-friendly eCommerce site than from a one that is not mobile-friendly. Word-of-mouth is a robust sales-driving tool; also, your products converse for themselves.
If a customer is completely happy about purchasing your product and is also happy with the purchasing experience, it would be free marketing for you. In fact, an order from one customer could actually pay you back for the time and money you have invested in upgrading your eCommerce site.
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These are the main advantages of M-Commerce for your businesses. As a business owner, you will never be able to ignore the victory and prevalence of M-Commerce in the present market scenario. You can always hire a Marketplace Development Company in India to build you an M-Commerce site.