M-Commerce or Mobile commerce is one of the game changing trends available to shoppers around the globe today. M-Commerce , a terminology coined by Kevin Duffy In 1997 is a way to shop with one’s mobile gadget to access various online markets that sell goods and services. This not only makes buying easy but also makes selling easier and gives an opportunity for e-commerce sellers to position their products to global consumers at the click of a button.
Mobile e-commerce sales in India is expected to hit nearly 38 billion USD by 2020, as published by the Statista Research Department and this stupendous growth is attributed to the growth and explosion of smartphone and mobile phones market as well as the internet industry. Based on insights from Datareportal , it is to be noted that more than 400 million people across South East Asia use internet actively. Global retail e-commerce sales are projected to reach $27 trillion by 2020. e27 reported that Indonesia, Thailand and Philippines are among the top five countries in the world that rely on M-Commerce for purchasing.
The reasons why M-commerce is being preferred by today’s millennia’s is due to convenience of use. A decade ago, one had to take the effort of physically going to a store to purchase a product and yet this would limit their choices to a few brands based on the location of purchase. Today, the digital world is highly inter-connected, giving everyone access to products that are sold globally at the convenience of their home, that too at the click of a mouse. To add to this, today’s sellers give their customers a chance to return or replace the sold items with minimal or no added costs. This makes buying online through mobile apps the most preferred option. Another advantage of mobile commerce is "location tracking". Due to the portability of the mobile devices that track the user’s locations through navigation satellites, Wi-Fi, GPS(Global Positioning System) etc , sellers can provide location specific content and personalized recommendations to shoppers thereby improving their shopping experience.
What is different today?
Although some sections of the buyers feel that mobile apps do not give them the touch and feel of the product, most sellers today are overruling this concern by interfacing AI technology on selling platforms, thereby eliciting the buyers interest, most shopped items and their preferred choices. Some mobile applications also embed video graphics and picture technology. This gives the consumer a closer to life view of the product thereby making him to understand the quality and the exact feature of the product as if he shopped in real time.
What is the risk?
While most mobile based applications and selling platforms are genuine, there are a few fraudulent sites that create concern to the buyers while shopping on M-Commerce platforms. There have been reports of electronic crime such as sales scams, account theft and breach of personal information through some of these online interfaces. Predictably, as in every industry, the risks related to M-Commerce are also increasing. Unless used with caution, online shopping could turn into a nightmare for its users due to security dodges. A study by Worldpay has reported that the most common types of M-Commerce fraud notably are identity theft (71%), phishing (66%) and account theft (63%).
Despite the associated risks, we still see a continuous spike in the Mcommerce trends. This is because of several trusted suites like www.sellinall.com which provide a fully secure and integrated platform for e-commerce sellers to sell their products online. SELLinALL’s multi-channel e-commerce cloud based platform provides access to sellers to host their products online thereby providing reach to millions of online shoppers around the world to shop for their favorite products with ease. It has automated a feedback mechanism which sends messages to buyers to stay on top of their orders from all e-commerce channels. SELLinALL’s secure mobile application can be downloaded from play store by accessing the link - https://play.google.com/store/apps/details?id=com.sellinall.sellers&hl=en
M-commerce trend is steadily growing, given that 49% of the consumers use their smartphones to shop globally. The Global mobile retail revenue is expected to touch 3.56 billion USD by 2021 and this is a huge sign for e-commerce sellers. A lot of focus needs to be embarked on building robust and user friendly M-commerce applications that facilitate wider reach and saves time for busy shoppers. Besides, one also has to also make sure to provide outstanding customer service to ensure that the experience is rounded and complete.