M-Commerce- The Revolutionary Growth.
Five minutes on a street in India and you will be convinced that you are in the most connected community in the world.Cutting across socio-economic classifications, there is a feature common to everyone – a mobile phone, We have witnessed in recent years the phenomenal increase in smartphone adoption complimented with mobile data service usage. With the price of smart phones dropping to such low levels, consumers are opting for a smart phone rather than buying a traditional mobile phone. With a smart phone, consumers do not only enjoy the basic phone services, such as voice calls and texting, they are allowed to take notes, play games and connect with family on social networking sites, etc.
Mobile commerce is gaining increasing acceptance. The need for mobility is a primary driving force behind mobile banking, mobile entertainment and mobile marketing, and is supported by an ever increasing convergence of computers and mobile telecommunication devices. This article examines the conceptual background and existing regulatory framework of this relatively new business field, in order to provide a systematic and comprehensive understanding of m-commerce, including its utility for both consumers and service-providers, so as to make them aware of the new business opportunities arising out of this convergence.Although it is already on an upward trajectory,frustrations over mobile internet speed and connectivity are stifling mCommerce development. But with the launch of 4G, the floodgates are expected to open.
Many choose to think of Mobile Commerce as meaning “a retail outlet in your customer’s pocket”.According to BI Intelligence in January 2013, 29% of mobile users have now made a purchase with their phones. Walmart estimated that 40% of all visits to their internet shopping site in December 2012 was from a mobile device. Bank of America predicts $67.1 billion in purchases will be made from mobile devices by European and U.S. shoppers in 2015.
Our Advice: Go Mobile Or……….
The business owner that adopts a mobile mindset will be the winner at the end of the day. By investing in a mobile website or app, or creating a responsive website design that scales to fit different device screens, you can capitalize on the opportunity at hand and truly differentiate yourself from your competitors.
Has your website seen a rise in mobile traffic? What are you doing to optimize your website for mobile? Are you eager to get mobile-ready? Leave a comment or get in touch; we’d love to help you leverage mobile in your online marketing strategy!