Larger Customer Base: The dynamics of shopping has seen a tremendous change with the introduction of inexpensive smartphones and greater access to the internet. Shopping is not a weekend affair anymore. People waiting at a bus station on way to work is now a potential customer for a retailer hundreds of miles away, since they now have mobile phones in their hands, surfing the net for products and a disposition to buy on a whim. The impulsive 21st-century consumer with access to a smartphone has become the metaphorical golden goose for the retailers.
In many emerging markets, people who have never owned a PC before are making a technological leap to smartphones due to their increasing affordability. This has led to a whole category of consumer previously untouched by marketers out of the shadow. Also, the mainstream consumers have shifted to mobile apps simply because of its convenience.
The growth of m-commerce between 2013 and 2016 is expected to be 42% compared to 13% in e-commerce according to Coupofly. In fact, Mobile search numbers crossed above that of desktop search in May 2015. The growth is higher in emerging markets due to the leap in technology. And as cashless transaction gains prominence in such countries, shifting to mobile platform has become a must rather than just a supplement.
Mobile Payments: Online payments have been there for a while but with the explosion of mobile phones, public Wi-Fi, and the mobile internet becoming faster and more reliable, newer and faster avenues for payment have appeared such as digital wallets. Countries like India are soon going to make technological leap to biometric payments, making a new generation of mobile phones more attractive as a platform for transactions.
Faster Commerce: Due to responsiveness and convenience of mobile apps and mobile e-commerce sites, mobile has better conversion rate (Ratio of customers and visitors). This is because unlike desktops and laptops, mobile is a more personal device and people find it more secure to store credit card details and passwords on their mobile phones. Mobile apps use this customer trust to help them transact easily without any need to enter the details every time one has to make the purchase.
More Traditional Sale: Mobile phone also helps traditional brick-and-mortar stores to increase their revenue by letting customers make orders and search for discounts, and earn loyalty points on online transactions which attract the customer back to the store. It opens opportunities for business which didn’t exist before m-commerce.
So what about desktops and laptops?
In the upcoming ‘internet of things’ era, Users would have multiple devices, be it a smartphone, laptop or smartwatch; connected to the Internet so every device will have its own utility. Mobile commerce and e-commerce are going to coexist because they are sides of the same coin, so one has to keep their businesses dynamic and versatile in response to all the ushering technological changes like virtual reality.
Twistfuture Software is a premier mobile app development company in New Delhi. We design & develop creative and user friendly mobile applications on reliable platforms like iOS and android which will reinforce your brand by increasing your visibility.