Online shopping is the rage these days and due to its wide popularly brick-and-mortar stores are almost on the verge of extinction. Online shopping websites, or e-commerce websites, are currently dominating the world of retail. However, with the immense popularity of Smartphones, Tablets, iPhones, and iPads, it could be possible that m-commerce is the new frontier of e-commerce.
Now, why is that? Well, because of these Wireless Internet Devices (WIDs), shopping online is easier than ever. Recent reports suggest 53% of mobile consumers use their devices to “showroom” products and 1 out of every 5 people research products on their mobile devices rather than their laptops or computers.
What is Mobile Commerce?
Mobile commerce is similar to e-commerce, regardless if you opt for magento hosting or x-cart hosting. However, the only difference is that instead of using computers, consumers use their mobile devices to purchase products online. If you take a closer look, you will notice that the strategy behind m-commerce isn’t complex. In fact, it is just redesigning an existing website for mobile devices and their smaller screens.
It is true that the audience for m-commerce is different as compared to e-commerce. Regardless, the main aim of both online shopping methods is the same: increased ROI via electronic transaction. However, it can be said that mobile commerce is going to skyrocket over the next few years. Recent reports suggest that by 2018, the volume of mobile commerce business is expected to soar to $293 billion, which is definitely a substantial increase from this year’s $114 billion.
Interesting Facts and Statistics about Mobile Commerce
- 43% of all mobile shoppers have downloaded a retail app.
- Mobile devices are everywhere and their owners rely heavily on them.
- Mobile shoppers make the majority of their purchases on the weekends.
- Mobile commerce in the US alone is expected to grow by $31 billion by 2016.
- 44% of all EU, 42% of all US, and 51% of all UK subscribers have smartphones.
- Last year, the number of NFC-enabled smartphones shipped exceeded 1.2 billion.
Milestones of Mobile Commerce
- 1973: The first personal and portable handset ‘Motorola Dyna-Tac’ was introduced.
- 1981: The Western Electric Company is allowed to create both cellular and terminal products.
- 1988: The CTIA gets established and TDMA technology was introduced.
- 1997: The phrase “Mobile Commerce” was coined by Kevin Duffey at the Global Mobile Commerce.
- 2002: Mobile broadband was introduced (a revolutionary step in the history of mobile commerce).
- 2008: The 3G technology was introduced.
- 2011: The famous 4G technology was introduced.
Benefits of Mobile Commerce
- Personalization – Mobile devices now exist as a personal item for every individual. This means the user can do anything, without having to worry about compromising important information.
- Convenience – The most obvious benefit: mobile devices are incredibly easy to carry and travel around with. They are lightweight and small and only require an internet connection for shopping.
- Time Efficient – Mobile users don’t have to wait till a desktop or laptop loads to begin shopping. All they have to do is press the on button and login to an e-commerce site.
Mainly due to these reasons, it is possible that m-commerce is the future of online shopping and more importantly will overtake e-commerce in the coming years. Do you plan on going mobile as well? If so, then you might find the managed hosting services and its solutions from Finestshops impressive.
To your success!
Anton Pachkine
FinestShops offers premium managed e-commerce package for companies without a large IT department.
