After e-commerce, m-commerce (mobile commerce) is paving the way for online shopping, marketing and business. Thanks to growing number of smartphone users which is driving the growth of m-commerce. It is define as "the buying and selling of goods and services via mobile/wireless technologies and devices". Looking for mcommerce for your online store, talk to us.
Last few years witness the entry of many e-commerce companies which made impressive profits. The evolution of e-commerce has given birth to m-commerce . It is basically the use of mobile device to buy articles, pay bills, redeem coupon etc. There are so many speculation associated with this emerging field. Amidst all speculations, it has managed to grab the attention of big players and occupy a prominent place in the industry. Eyeing the m-commerce market potential, big telecom companies are planning to introduce WAP (Wireless Application Protocol) - enabled smart phones.
Recently, the industry saw a swift shift of e-commerce to m-commerce thus scaling demand of mobile app development from online retailers and stores. Smartphone penetration into the market has propelled this shift. The popular e-retailers are registering 25 times more sales through smartphones in a single year. Secondly, the growing app mania among smartphone users has also boosts the growth of m-commerce. In the highly competitive retail market, price is the king. Developing and maintaining a retail app is easy and inexpensive than maintaining a website. Moreover, mobile app offers customized and better shopping experience compared to website.
Some Impressive Stats on mCommerce
According to a leading e-commerce company, the value of m-commerce transaction is expected to cross $3.2 trillion by 2017.
It is estimated that m-commerce market will touch US $800 billion mark worldwide by 2016.
The global mobile transaction volume and value is expected to grow by 35 percent annually.
The m-commerce market is expected to reach $721 billion mark with more than 450 million users by 2017.
Mobile usage & engagement in travel and tourism sector
Travel brands are expected to exploit location based travel technology such as beacons to track travellers throughout the journey. For example, airports can use digital engagement to provide appropriate content on the way, in the airport and post-travel to improve the customer experience. Travel software for IATA agents and OTA portals are focusing more on under experience, social media interface and and information from previous trips to anticipate their needs.