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What is the role of m-commerce and how is it reshaping the industry?

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Title: What is the role of m-commerce and how is it reshaping the industry?


1
  • What is the role of m-commerce and how is it
    reshaping the industry?

2
  • In 2019, U.S. mobile retail revenues are expected
    to amount to 267.47 billion U.S. dollars up
    more than 150 from 156.28 billion U.S. dollars
    in 2017 (according to Statista). Mobile commerce
    has captured global markets by providing services
    in major revenue sectors which were previously
    non-digitized.
  • However, experts say that this growth is just the
    tip of the iceberg. In order to understand the
    outlook of the M-commerce industry, let us first
    consider some basics.

3
What is M-Commerce?
  • Mobile commerce is the process of buying and
    selling goods and services through electronic,
    wireless devices. This can include anything from
    personal digital assistants to smartphones to
    tablets and even wearables like smartwatches. In
    the simplest of terms, M-commerce can be defined
    as sales of goods and services via mobile
    devices. This is the next generation of
    e-commerce!

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  • Mobile commerce is a quickly growing subgroup of
    e-commerce. Let me explain. If you were paying
    attention during the last decade, people used
    online websites to buy products and services.
    Today, people are drifting towards wireless
    technology. With the rise of concepts like the
    Internet of Things, On-Demand Services and
    Cross-Platform Marketing, Mobile software,
    products and services are starting to blend
    seamlessly with daily aspects of our very lives!
    Today, people can barely walk down a single block
    without using their mobile phone so you can see
    why concepts like mobile and close-range
    marketing are so powerful for driving sales. If
    people are using mobile more and mobile platforms
    are so seamless for marketing, then the next
    logical step is obviously to put up M-commerce
    platforms so people can actually buy stuff!

5
Role of m-commerce
  • Due to rapidly changing technology, the demand
    for M-commerce has increased faster than that for
    e-commerce. Where previously, people were
    shackled to clunky computers, today, a consumer
    in any corner of the world person can book
    tickets, pay bills, purchase products and
    literally do anything you can imagine using
    location-based M-Commerce services!
  • Look at all of this from the perspective of
    M-commerce service providers. This is a huge
    opportunity for small, medium and large
    businesses to cash in on! Tech analysts have
    forecasted that in the coming year itself, over
    half of the digital retail revenues will be
    earned through m-commerce. This makes sense
    because even the advertiser and marketers are
    sitting up and taking notice of M-commerce
    platforms such as Instagram for Business or
    Shopify. One thing we want to point out though.
    Marketing isnt just mobile responsive web
    platforms like Instagram or spotify, Mobile is an
    emerging platform for a slew of marketing
    activities which could include anything from
    Mobile games to Web Posters to SMS Advertising to
    Mobile Audio and Video MMS Advertising. Let us
    take a detailed look at M-commerce services to
    help you understand better.

6
Types of services provided by m-commerce
  • Mobile commerce plays an important role by
    providing services through various applications
    such as
  • 95 of mobile internet users look up local
    information on their phones for the purpose of
    calling or visiting a business. Wireless
    technology enables advertisers to target
    smartphone users at any time or place. By
    identifying users current location businesses
    can engage and retain the users through proximity
    marketing, push-notifications, and customized
    messages.

WIRELESS ADVERTISING AND RETAILING
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Banking and financial services
  • M-commerce has fueled the emergence of a
    cashless economy by allowing the users to
    transfer funds between accounts and receive
    information related to their accounts from
    financial institutions or banks. More recently,
    M-commerce has also established itself in
    stock-trading services and money management. What
    this means for businesses is that it is much
    easier for their customers to purchase online.

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Games and entertainment
  • Another way M-commerce applications target
    people is through push notifications from
    entertainment apps such as games, video streaming
    platforms or music platforms. Since users are
    likely to be playing games, listening to music or
    watching videos with focused attention, targeting
    these users at the right time could lead to
    increased sales for businesses.

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Location-based services
  • M-commerce has made it ridiculously easy to
    provide location-based services to the customers.
    Today, hyperlocal targeting can be done through
    mobile devices that allow users to find the
    services available at the nearest location. What
    this means for businesses is that the span of
    time between a consumer considering the product
    or services and making a purchase has been
    significantly shortened!

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  • M-commerce is an emerging platform for businesses
    to provide services at the intersection of the
    consumers need identification and financial
    convenience! By making the payment process
    hassle-free, reaching consumers where they are,
    and shortening the sales process, M-commerce
    applications have created a win-win situation for
    both consumers seeking convenience in the
    purchasing experience and businesses wanting to
    cater to these consumers needs.
  • Are you planning to enable m-commerce for your
    business or startup? Please contact us to get a
    free quote for your requirements and we can
    develop the right m-commerce solution for you.

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