A lot of consumers were still not over E-commerce and the introduction of M-commerce has already made them jump out of their skins. M-commerce refers to the commercial transactions that are conducted online via Mobile Devices. Mobile Phones have exploded the market big time and now the situation is such that a men's life without mobile phones is like a life of fish without water. It is estimated that by 2017, about twenty billionth cell phones will be sold. An average American keeps his phone in reach 24/7 and checks his phone 85 times a day. M-commerce is expected to grow 300% times more than E-commerce
It is believed there will be a convergence of physical world with the online world. With Mobile Phones everything is just a tap away, order food, book movie tickets, send mails - with just a woosh! At least two digital devices, such as - desktop, smartphone, tablet or a laptop, are owned by 2/3rd of Americans. By having possession of these multiple devices they are not merely connecting to the virtual world but in a way are merging the lines of the physical and virtual world with their constant engagement with your brand.
Keeping this imbrication in mind, retailers have already prepared themselves by offering snowballing options of in-house and online purchases. It is pretty sure that in coming years retailers will take advantage of technologies on both channels - the digital and physical to provide their customers best experience by killing two birds with a stone.
The connection of social media and mobile devices is eternal. In the Monarchy of retail, social media has a huge role to play.
The buy button on various social media domains has also brought in a huge revolution and tremendous rise in an online sale.
The rising importance of social domains to get higher revenues and traffic via M-commerce is something that has made a huge mark and is assumed to go way ahead.
Users spend about 85% of their time going from one mobile app to another. Another reason adding to the inevitability of app development is that - the favorite pastime of half of the Americans is to download Mobile Apps and use it and that's how the download of more than 30 million apps is justified. In today's time Mobile App are more preferred than any other media such as TV, Tablets or Computers and it is no more a less known fact that the number of Mobile Apps is much higher than that of Tablets or Computers.
A Mobile App attracts twice the traffic in comparison to the web. With Mobile Apps, your business gets - Brand Awareness, Visibility, Market Dominance Growth and Stock Monetization.
Mobile Moments are the number of times you rely on your mobile on daily basis. To know the weather conditions or you want to get the latest news updates - Mobile Moment is always there. As a matter of fact, 91% of users use their smartphones while they are involved in any other task. Mobile Moments are an essential part of any human's life. Users are blindly relying on their mobile phones and with getting what they are looking for - the mobile moment is a perfect example of 'mobile addiction'. This gives retailers an opportunity to engage a maximum number of users and get higher sales or revenue.
The Internet of Things (IoT) provides opportunities to companies to gauge customers, improve customer loyalty, get higher returns, increased revenue and lowers the operating cost. As we all are aware of the fact the internet of thing is the future of this globe so it is also predicted that IoT will have a gigantic impact on m-commerce.
An annual loss of $18 billion is faced by retailers because of abandonment of shopping cart. A study confirmed that two out of three users leave websites without paying or making a purchase of the item(s) that they have added to the cart. The number of conversion on m-commerce is skyrocketing, as mobile apps come handy and users feel more personally connected while using a Mobile App.
M-commerce is definitely the future and is great potential for retailers in earning better profits. It is the driver of change and evolution and in coming years it is going to completely overlap e-commerce. The buzz of m-commerce has been initiated now but is expected to grow 300% over e-commerce. It is a great platform and opportunity for many brands and retailers to offer a virtually seamless experience to their customers and provides better brand interaction for them.
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