The Future Of Mobile Commerce
Nowadays, you can see that people frequently asked different questions regarding the future of mobile commerce. Mobile commerce is also named as (M-commerce), it referring as purchasing and selling of goods and services over wireless handheld devices including smartphones, tablets, laptop, palmtop or the other personal digital assistant (PDA).
Yes, with the ease of M-commerce user can perform certain tasks like railway reservation, book movie tickets, pay bills, order books, watch and read the news, etc. In this article, we are going to discuss each and everything about the term Mobile commerce.
What is M-Commerce?
M-commerce or mobile commerce is the mechanism of browsing, buying, and selling of products and services on mobile devices. In general speaking, m-commerce is a complete online shopping experience! Remember that m-commerce is stimulated by mobile-phones and personal digital device – the rise in smartphones and tablets has boosted the growth of the mobile commerce market across the world.
The Different Types of Mobile Commerce:
Mobile commerce is not all about simply burying goods or services online using a mobile device; it also works great for various other online transactions.
Online Shopping:
Online shopping remains at a great extent level of mobile commerce transaction; people buy items or services online using a wireless handheld device. Optimistic studies reveal that today, people love to shop online instead of head to high street stores. When people go shopping, they often utilize simple and free percentage calculator by calculator-online.net to find out the percentage of the product.
Mobile Banking:
Maybe you familiar with mobile banking, m-commerce is a key component of banking institutes. The customers will able to access information from the accounts and also make quick and easy transactions and payments using mobile banking services.
Mobile Payments:
Yes, mobile payments is another form of m-commerce in which people use a mobile device to pay for a good or service. Instead of utilizing traditional payment methods like cash or credit cards, mobile payments are something that utilizes to pay for goods and services, both digitally and physically.
According to optimistic studies, 55 percent of the population around the globe, means around 3.2 billion people, will utilize internet before the end of 2018 – and the thing is that out of those 3.2 billion, 2 billion are mobile users.
The Future Of Mobile Commerce (M-Commerce):
You can find out that people using various portable devices such as a tablet, smartphones, and internet-enabled devices across the world; these devices are a key factor of driving growth of the global M-commerce market. Additionally, there are some other factors expected to drive the growth of the global mobile commerce market, including development in mobile application structure, improvement in network bandwidth like the introduction of 5G.
- Experts predicted that by 2021, m-commerce sales across the globe expected to account for 54 % of total e-commerce sales.
- Across the globe, about 62% of users of smartphones have utilized their mobile devices in the last 6 months for online purchasing
- Research shows that about 80% of shoppers utilize mobile device inside of high street stores to look up the reviews of a product, compare prices, and also to find alternative store locations
However, optimistic studies reveal that there are different internet connectivity issues in developing countries, and they also face various data security threats; these are the key factors that restrain the growth of the global mobile commerce market. According to many experts, there are many other factors expected to hamper the growth of the global mobile commerce market over the forecast period; these are – high development cost that associated to mobile commerce software and limited professional workforce.
People around the globe utilize internet-enabled devices, and mobile payment systems such as paytm, mobikwik, BHIM, etc., these increasing adoptions are predicted to create opportunities for market players across the world m-commerce market.
Keep in mind; the global M-commerce market is split-up based on the transaction, payment mode, type of user, and region. And, when it comes to the region, the global mobile-commerce market is divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
M-Commerce and Retail Sectors:
Experts reveal, near the future m-commerce will have a strong and efficient impact on every single industry in the market. No doubt, smartphones give the ease to do anything from anywhere. Give a read to know the impact of M-commerce on various online retail sectors currently:
E-Commerce:
When it comes to e-commerce, people commonly browse online orientation to get better prices and discounts. The mobile devices allow them to explore various stores, so they decide where to go for shopping.
Online Food Delivery:
Yes, you can find out several mobile applications like Grubhub, Seamless, and UberEats that provide menus from various points around your area. Also, they can utilize the percentage calculator to define the percentage of discount that they get from a meal. There is no need to worry about knowing your location as your GPS does it for you and point out food spots that will deliver food.
Daily Deals:
Typically, e-commerce retailer’s offers daily deals for their customer like – you can get a 70% discount or buy 2 for the price of 1. They offer discount packages that valid just for 24 hours or even less. They can utilize the online percentage calculator to define the percentage of the sale.
Travel:
The online travel marketplaces become very popular nowadays; it is the most lucrative concepts both for retailers and consumers. People often reserve their entire holiday packages online, including travel, hotel, and car rentals.
In simple words, M-commerce allows travelers and travel agents to interact with each other in a couple of seconds.
Cab Booking:
Yes, everyone is familiar with the Uber app; no doubt it is a big part of our daily life. People utilize this cab for traveling from one place to their destination. GPS location system and contactless payments are the best sources that help people to find cabs around any area.
Well – M-commerce industry brings tremendous, fresh, and new ideas that make us surprising every day.
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