M-Commerce: The way forward?
- May 04, 2016
Back in 1991 e-commerce turned up as a choice in the commercial use of internet, but people first tried it with IRCTC in 2002. IRCTC allowed booking of train tickets with IRCTC Online Passenger Reservation System. With its great success every one noticed the capacity of e-commerce in India. Since then it has been effortless run for e-commerce as more and more people associated with it. Today online shopping is a trend. Every one prefers the ease of shop from their home compared to those crowded markets, accompanied with far more secured options for payments. By 2016 it is expected that online shoppers will cross 100 million and retail market will be worth $675 billion. But there has been a renovation and e- commerce will soon be preceded by m-commerce as indicated by the new bent in market.
With increasing 3G penetration and smart phones in reach of every one, m-commerce is flourishing and now the giants like Flipkart and Snapdeal are getting half of their traffic through hand held devices.
We are all conscious of the importance of smartphone and their apps, and use them in our day to day activities. So, it was evident that soon m-commerce will also kick-off. There are a lot of considerations which contributed expansion of mobile data connections, rise in people using smartphones made a culminating stage to launch m-commerce. The industries also shifted their focus on developing efficient and attractive mobile apps to further lure the customers in. A helping hand was also provided by banks all around as they launched mobile banking applications making customers stick to their phones more. As a result of all these we now have a group of users preferring their apps over traditional websites as it is more personalized and secure.
M-commerce is thriving with pace because it holds number of advantages over regular websites available. Most basic of them is that mobile is now a necessity, it has wide reach compared to laptops and computers which makes it obvious for retail industries to target users on their phone. Smartphones are easy to use and almost no special skills are required, so even the customers going for online shopping for the very first time choose mobile apps over websites. More attractive deals, convenient, efficiency along with personalization are also some of the elements playing their part. Like all the other new things m-commerce holds some disadvantages too. Most of the cellular gadgets do not have a screen size as that of laptops, which makes navigation between products and overall user experience a bit bothersome compared to e-commerce. High speed Internet is also a hitch. India has a third largest online user base but the average internet speed in here is just 2Mbps compared to 4.6 Mbps global average also the peak average speed global is 25.4Mbps compared to 14.4Mbps in India. This makes it hard for users to traverse seamlessly through m-commerce.
Also the information transferred through the cellular devices has higher chances of getting hacked. Overall m-commerce is maturing, and everyone is accepting it with open arms. Mobile wallets, customized apps integrated with mobile banking, better deals are some of the key points fascinating customers. Retail industries are also shifting their investments and efforts in improvement of shopping experience on mobile m-commerce which holds the way for future.