Brick and mortar and even traditional Internet sales will only take you so far in today’s highly competitive business climate. Industry innovators must think progressively when it comes to how goods are marketed physically and digitally and where sales take place.

What is M-commerce?

It is the abbreviation for mobile commerce that generally refers to a sales platform that allows customers to make purchases via their mobile devices.

The mobile marketplace is a global one and one that is growing exponentially each year. In the UK, for instance, 62 percent of the British population uses their smartphones to purchase products. Businesses that do not accommodate mobile phone purchases are missing out on a growing segment of purchases made each day.

The longer you delay making the leap into M-commerce, the more money you leave on the table for your business. These are just a few mobile commerce advantages your business needs to consider.

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Mobile Commerce is on the Rise

Current estimates, according to 99 Firms is that mobile phone data usage is expected to increase by 700 percent between 2016 and 2021. Even if businesses only miss out on a small fraction of the rise in mobile commerce, the costs could be substantial. If you’re like most businesses, especially small to mid-sized businesses, you simply can’t afford to miss out on this trend.

Allows You to Offer Better Customer Service

Great customer service is one of the often-lamented casualties of an Internet marketplace. Mobile phone marketing, by contrast, offers businesses the opportunity to make the shopping experience more personal. From text message shipping notifications to answering customer concerns through voice, email, and text; the entire customer service process is easier.

That doesn’t even include things like discounts, coupons, and push notifications that allow customers to make in-app purchases and take advantage of instant promotions and codes for greater savings and better experiences.

Increased Marketing Opportunities

Mobile commerce allows businesses to take advantage of location-based services that allow you to reach out to customers as they walk in the door. An excellent example of this would be Target’s Cartwheel program. As soon as you pull into the parking lot the app activates to notify shoppers of special promotions, load their shopping lists, and even activate coupons they’ve saved via QR codes.

Gather More Data

Collecting customer data when they make purchases via their mobile phones is easier than ever. Your business can collect a wide range of information from the points of navigation customers follow to your website or products and different steps in their purchasing decisions. This isn’t possible when they walk into your store and purchase products and is sometimes more limited when they shop on websites because of privacy protections savvy surfers put into place to block this type of analytics gathering.

Easy to Scale Up or Down

Success is something that ebbs and flows for many mobile marketers. Some campaigns are more effective than others. Some months leave more left over to invest in mobile commerce and marketing activities than others. And sometimes, you want to let things ride a while so you can explore your results and determine whether changes are needed or not. Mobile marketing allows this to happen seamlessly to take advantage of spikes in interest as they rise and fall along the way.

Allows You to Launch Highly Targeted Campaigns

Targeted campaigns involve more than simply getting the timing right. They are about reaching out to the right customers or audience at the right time. Because mobile marketing can be practiced so precisely, at a specific time or for users in a specific location, it allows you to create massively targeted campaigns to your target audience at a moment’s notice.

Convenient for Shoppers

One of the most important reasons that mobile commerce has risen so sharply is the convenience of it all. Customers no longer need to be sitting in front of a computer or walking into a store to make a purchase. Most people walk around with their smartphones. They’re never far away from that. This means they can make purchases at the ball field while riding in a car, or in the middle of a boring business meeting – whenever it is convenient for them to do so – without concerns over forgetting to make the purchase or having time to talk themselves out of it! It’s a huge win for retailers seeking new avenues to facilitate impulse purchases.

Now that you understand the many reasons to consider choosing mobile commerce for your business, the next step is choosing the right Mobile-commerce platforms that offer all the features of M-commerce you desire to meet your needs while serving the needs of your customers best. Choosing wisely eliminates the challenges of M-commerce and positions you for huge sales and greater success.

09 May 2019, The global B2C e-Commerce Market is projected to expand at a healthy CAGR over the forecast period. The concept of B2C e-commerce evolves around organizations that sell their products and/or services online directly to the end-users. Increasing number of mobile and internet users in the emerging markets is one of the major factors driving the market growth. In addition, rising popularity of mobile commerce (m-commerce) along with advanced payment processing and shipping options is also likely to augment the market expansion. Another factor influencing the demand for B2C e-commerce is the ease of penetration it offers to manufacturers so that they can expand their product offerings into international or untapped markets.

It allows free entry and exit of the customers. The extended visibility that internet provides gives domestic businesses an edge over the market. It helps decrease cost related to establishing physical stores and sales platforms across the world. Other factors that are expected to boost demand for the market are 24/7 self-service shopping, various payment options (payment on delivery and payment through a portal), and easier access to a comprehensive range of products. Changing consumer preferences and increasing standards of living are key social factors that have a positively affected this market.

Increasing preference toward online shopping rather than visiting conventional brick and mortar stores is further adding pressure on manufacturers to develop an online portal to encourage the sale of their product. Moreover, decreasing costs of developing an online portal, adoption of multichannel retailing, and reduced transaction costs are also some important factors that are projected to drive the market in future. Electronic shopping and mail-order houses, clothing and accessories, office equipment and supplies, furniture and furnishing products, healthcare and cosmetics, books and music, home appliance, motor vehicle and parts dealers, building materials, garden equipment, and other consumer durables are the major end-use applications of the market.

Electronic shopping and mail-order houses segment accounted for the highest share of the market. The segment was driven by computer hardware products and systems. Clothing and accessories, office equipment and supplies, furniture and home furnishings, and appliances are projected to expand at a high CAGR during the forecast period. Services segment further includes information service (publishing, broadcasting, telecommunications, and providing an online information system), administrative support (travel arrangements and other linking services), and professional, scientific, and technical services.

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The market can be segmented by strategy and operations into five main categories including direct sellers (e-tailers and manufacturers), online intermediaries (brokers and middlemen), advertising-based models, community-based models (a hybrid of two advertising approaches) and fee-based model (paid subscription and pay-as-you-buy services). Amazon, one of the world’s major companies in the online retailing industry, has divided its operations into, services (cloud computing and storage) and paid content category (app store and digital media), which has made it a leading player in the B2C e-commerce market.

Asia Pacific has been the largest regional market for B2C electronic commerce and this trend is expected to continue over the forecast period due to growing demand from China, India, and Indonesia. The consumption of goods and services offered by B2C e-commerce in China accounts for three-quarter of the production in the Asia Pacific region. The Asia Pacific market for B2C e-commerce is followed by North America, Europe, Latin America, and Middle East & Africa. Countries having the highest market share in this industry are China, Indonesia, India, Argentina, Italy, Canada, Brazil, Mexico, and Russia. Countries, such as Argentina and Japan, will experience a declining trend on account of currency volatility, which will ultimately reduce their spending in market.

Key companies have undertaken strategies such as collaborations and joint ventures to gain considerable market share and expand their product offering and distribution channels. In 2015, China’s leading online platform, JD.com Inc. entered into a joint venture with Otto Groups. The chief objective of this joint venture was to increase international presence in the e-commerce in China and Europe. PT Trikomsel Oke Tbk, a leading distributor and retailer of mobile phones in Indonesia, announced its joint venture with Singapore Post Limited to penetrate further into the regional market. The leading companies include Amazon.com, Inc.; JD.com, Inc.; Wal-Mart Stores, Inc.; eBay, Inc.; Otto Group; Alibaba Group Holding Ltd.; Cnova N.V.; Tesco PLC; and Best Buy Company, Inc.

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