“Online Commerce is not only confined to the walls of consumers’ laptops and desktops, mobile phone (m-Commerce) takes the center stage.”
For much of the eCommerce, smartphones and tablets remain the predilection and the same is going to continue in the years to come. Most online shoppers opt for a mobile device, right from browsing a product on the browser to completing the purchase.
If we look at the statistics from last year (2015), 28% of the 4 billion payments processed by PayPal were via mobile devices. Further, there was a rapid growth in the number of mobile purchases as recorded by iPay88. It was 3.7 million compared to two billion in the previous year (2014).
See infographic: Growth of mCommerce in Recent Years
Whether responsive website or a mobile app, commerce via a smartphone brings convenience to both B2B and B2C consumers. And the pace at which the number of mobile phones and smart watches are increasing in the world, m-Commerce has no looking back. However, even more than web, commerce mobile apps are adding more purchases
Each big and startup brand is investing more time, money and efforts on making mobile experiences better. Besides the always-talked-about reasons like convenience, anytime, anywhere concept, the biggest reason for consumers to shop from their mobile is they love making a more personal.
Mobile is a personal device, which allows online commerce players to keep a record of user’s likes and preferences and related products they browse on the internet, and then send them recommendations of their own products and services, in an attempt to convert it in a future purchase.
Mobile users love this feature of being recommended and being informed about any discounts and deals on the products they have ever browsed. Since our mobile phone stays with us almost every time, the overall process of buying and selling becomes easy for both retailers and consumers.
Reaching customers through mobile devices give businesses a chance to focus on their customer, right from their first visit online to their experience searching for the product to placing an order.
When it comes to fashion and lifestyle, people of all ages love associating themselves with celebrities. Brand storytelling, high engagement content is frequently read by the audiences on their mobile phones on various platforms like social media, blogs, emails. This streamline the mobile shopping experience.
Mobile Payments Will Stimulate the Future
Notably, m-Commerce is not only confined to e-Commerce via mobile phone; it also includes mobile payments on brick-and-mortar stores. Customer behavior is changing as a larger portion of general public is excited about paying with their mobile phones on store rather than credit cards.
The concept of Samsung Pay, Apple Pay, Walmart Pay, Starbucks’ in-app payments and several alike apps will bring a great difference in how we are paying now. Mobile payments will be more secure and keep us away from the frauds of credit card/debit card. For retailers, mobile wallets will lead to faster checkout as the integration of reward points and vouchers can be processed within a single device.
What if someone forgets his wallet or credit card at home? You can still make a purchase from your mobile phone. For consumers, CC/DC can be misplaced and then there are risks for which they need to call customer care, block their cards and then get a new plastic card. Nonetheless, customers are liberated from these payment and lost-card headaches. Mobile payments are only accessible by the owner and nobody else.