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What is m-commerce? Advantages, Disadvantages, and must-have features.
Mobile commerce, popularly known as m-commerce, is a medium that helps people to buy and sell goods and services through their smartphones and tablets. In simple words, m-commerce means any monetary transaction completed using a mobile device. Kevin Duffy introduced this term in 1997. Some examples of m-commerce include purchasing, e-commerce apps such as Flipkart, Amazon, or a digital wallet app such as Paytm, Samsung pay, apple pay, and android app.
According to the report, spending through mobile devices, the total eCommerce sales accounts to 34.5%, and the number is still growing. It is the most rapidly growing sector of e-commerce, and web app development companies play a vital role in developing a robust, interactive, and feature-rich application. In India, approximately more than 70% of online transactions happen from mobile phones, and it is a 700 billion dollar industry all across the globe. The most affected industries by m-commerce include financial service, telecommunications, service and retail, information service, and many more.
Here, in this article, we will discuss the advantages, disadvantages, and must-have features of m-commerce.
Advantages of M-commerce:
1. Provide easy store access
No doubt, M-commerce websites, and apps help customers to explore the product available in the market. They don’t need to travel to the store to purchase any goods or services of their needs. They can buy their product online with their smartphone or tablets. This helps to save their efforts, time, and money.
2. The large order processing platform
M-commerce allows store owners to sell numerous products or services at once throughout the day. As customers don’t need to go through a checkout line for any transaction that takes so much time. A customer can easily log onto any platform and purchase anything or everything according to their requirements.
3. Better user experience
User experience matters the most in e-commerce as there is no possibility of direct contact in this kind of shopping. In today’s era, people are so well acquainted with their smartphones or tablets. And, they know precisely how to search or purchase the desired products or services of their need in just some simple clicks. Not only does m-commerce provide better user experience, but also it saves time too. To provide smooth user experience, make sure your mobile app must be fast, convenient, interactive, and exclusive. This will also help you to make your eCommerce business successful.
4. Higher ROI
According to the Google reports, approximately 67% of people prefer to purchase any product or service from a mobile-friendly m-commerce site. And, about 61% of people move away from a website that is not mobile-friendly. Even though your product explicitly states it’s benefits, but a word of mouth marketing boosts the sales. When a customer using your product, gives their review offline or online, they motivate other potential customers. Since this type of marketing is free, it generates more profit and covers the cost of upgrading your eCommerce site.
Disadvantages of m-commerce :
1. It requires technology access
What if a customer doesn’t have a smartphone? Well, if a customer doesn’t have a smartphone or tablet, then he can’t leverage m-commerce service that mostly business provides. If a customer has a smartphone, then also it must be able to retrieve company information and transmit a sales order. So that the user can get a brilliant experience.
2. High competition
M-commerce creates a global market, so the competition for any product or service becomes automatically super high. There are numerous m-commerce apps available all across the globe that provide precisely the same service you provide. As you are not the only provider in your community, it takes a lot of time and effort to build up sales from mobile commerce.
3. Requires fast service at all times
Obviously, it requires a fast service to engage potential audiences. With m-commerce, you have to provide quick service at all times, no matter what. According to the report, customers will stop using an app or website that takes more than 10 seconds to load the information.
You must be vigilant enough to maintain your mobile platform to avoid issues that could cost some business.
Must-have Features of an m-commerce application
Add Analytics and Information- In the world of big data, analyzing and recording the data is one of the essential features that you must embed in the application. Analytics helps you to make the necessary changes in the decision, and it also allows users to compare and make the right decision. With the help of data analytics, you can understand the user behavior and can improve the user experience significantly. To offer useful, delightful interaction, and easy to use m-commerce applications, make sure that you hire the best UX design company in India.
1. Log-in with Social Media Account
Another critical feature that you should consider while developing an m-commerce application is providing a simple and easy log-in option. Offering Social Media log-in option, users can seamlessly register themselves within the app without any fuss. This system will also help you to get the required information about your potential audience.
2. Push Notification
One of the most compelling features is incorporating the push notifications, which helps you to reach out to your every potential user with an immediate effect. With push notification, you can inform your users about promotions, discounts, sales, and other marketing activities that give you beneficial results. Customers can get all the latest updates about your m-commerce application. From the perspective of business growth, push notifications are helpful.
3. Search and Filter Option
Must include advanced search and filter option features in your m-commerce application to offer a seamless experience to the users. With the help of an advanced search option, users can search the product based on their needs, which saves the users time.
Filters are an extension to search the target product or similar ones when applying the filter option, either individually or in combinations.
If you are planning to develop an m-commerce mobile application, it is necessary to offer an amazing experience with all the critical elements. A great experience is a soul of shopping for users.
According to Business Insider, it is expected that m-commerce volume to rise at a 25.5% CAGR from 2019 to hit $488.0 billion in 2024. Smartphones and Tablets are driving the m-commerce revolution. Are you looking for a top mobile app development company in India? Share your app idea with us and take your business to the new level!
Pulkit Goyal is a IOS developer with experience over 6+ years. Has an extensive experience of iPhone/iPad Application development. A tech-savvy person who loves being engrossed with latest tech news, trends & strategies.