Mobile commerce is the latest development in the retail industry and, in fact, the future of the retailing sector all over the world. Mobile commerce, an advanced version of e-commerce, is proven to be an added advantage for businesses and retailers since customers shop extensively over the mobile. Mobile usage of the internet for shopping has increased immensely over recent years and is expected to surpass the usage of the desktop by the end of 2014. Thus, it has become essential for all retailers around the world to implement m-commerce in their marketing strategies so as to expand their sales and business base.
Mobile commerce also termed m-commerce is the best e-commerce design that guarantees results in the highly technologized and mobile world of today. For businesses and retailers, seeking growth in sales and commerce, mobile commerce is the latest secret to success since there are a large number of smartphone users in the world who use the internet on their mobile phones to shop extensively. A survey conducted recently suggests that more than half of mobile phone users in six countries across the world switched from feature phones to smartphones by the end of 2012. This suggests that mobile commerce has a great scope for advancement in the years to come.
There are several ways in which a mobile-optimized e-commerce website or a commercial app can help your business grow. Some of the merits of mobile commerce for retailers can be listed as under.
Mobile commerce is cost-efficient:
Mobile commerce implementation by retailers is absolutely cost-effective and highly advantageous for the business. Targeting your consumers through mobile commerce can help a retailer cut down on showroom costs and concentrate more on developing their website and application for mobile usage by consumers. Also, retailers can use their existing websites for mobile commerce which makes it further cost-effective.
Target large audiences:
Mobile commerce offers retailers the advantage of a wide reach that can help target an increased rate of customers and induce higher sales. Smartphones are used on a large scale by consumers of varied age groups which also helps retailers to sort their target audiences well and thus implement m-commerce in a better way. Consumers are known to use mobiles to access the internet and shop from mobile websites since it provides defined ease and comfort.
Advantages of mobile commerce applications:
Mobile commerce applications are faster and easier to use which is why they are chosen widely by consumers for shopping from their mobile phones. Developing their mobile commerce applications thus helps retailers to make business customer-centric and convenient so that shopping gets a boost. Some of the greatest e-commerce websites and retailers all over the world have implemented this strategy to target customers better and prompt sales.
The trends in mobile commerce have changed drastically over recent years. Research conducted in this regard reveals that 1 out of 3 people who receive mobile alerts are driven to a store. Out of these, over 27 percent make a purchase. Also, 30 percent of shoppers planned to access social media from their smartphones while shopping and about 43 percent of mobile shoppers downloaded a retail app.