What is m-commerce? Advantages, Disadvantages, and must-have features.

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.

Wrapping Up

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!

Latakoo- An Award-Winning App for Biggest & Fastest Video File Transfer

Latakoo- An Award-Winning App for Biggest & Fastest Video File Transfer

Parangat is on cloud seven, because of the Latakoo. The co-founder of the Latakoo app is going to be rewarded. The whole team of Parangat developers feels proud as they are the ones who convert this idea into reality. For us, the client’s achievement is our achievement. But we would like to thank Jade Kurain, co-founder of Latakoo, she came to us with the idea of it. She is going to be honored for Latakoo, with the Women in Technology Futurist Award on April 21 during the NBA Show in Las Vegas. Congratulation Jade Kurian for this achievement.

Applaud, Bravo, and other many words get less when it comes to admiring the Parangat team. Latakoo is built by us and yes, we are praising ourselves. Anyhow if you don’t have any idea about Latakoo. Let me take you on the ride, to help you to know about it. Latakoo is one of the most advanced and powerful technologies to send content quickly and simply regardless of the video type, Internet connection, and hardware variables.

Latakoo is an extraordinary advancement in mobile app development, it is the right tool for the right job to optimize transfer. The fastest video workflow in the market today.

Proceeding further, those who don’t know what is Latakoo, stay tunned to know about what is Latakoo & how it works, here a summary of it.

What is Latakoo?

In one word Latakoo is the fastest video transfer, it’s an end-to-end video workflow solution. With the help of Latakoo, one can fastly, easily, & in most securely way get video from anywhere to anywhere despite file size or internet connection. 

Why Latakoo?

  • Simple and elegant– Latakoo has no complicated software installation, easy drag and drops file upload.
  • Smart Technology–  Its flight application uses machine learning to estimate the upload time to secure the cloud. The best thing about this app is that automatically chooses the fastest way to send your file with two transfer technologies. For faster upload, it’s been combined compression with the transfer. If you are looking to transfer a file in its original form. Then Latakoo has the fastest transfer technology for the speediest upload.
  • Metadata– Its metadata is added to the file on upload, in a customizable interface in the cloud. You can tag any file immediately with location, keywords description & team members. On your onsite asset mange, metadata can be ingested along with a transcription.
  • Secure Access- To organize, share & view your files, a Latakoo pilot provides a way to organize in the cloud. Files are secured & shared through a series of permissions. IN short no one access your file without your approval.
  • Transcribe seamlessly– For transcription, you don’t have to add separate steps when a file in the cloud. Simply order a transcript, choose the desired quality level and turn around time, even add translation & speaker name. The secured file is searchable as metadata, downloadable as a caption or text file with camera time code markers, and can be ingested into your on-site asset manager. 
  • Automation round the clock– The best thing about Latakoo is that its HUB is the assistant editor that never sleeps.HUB automatically downloads files from Latakoo cloud, & transcodes to house format. Furthermore, it also checks the files into your asset manager. HUB helps to deliver files with embedded captions ready for broadcast.

Connecting Platforms

Latakoo combines with multiple asset managers, to becomes a bridge between them. It’s an easy way to send and receive files securely on a variety of systems.

Latakoo is a certified platform-solution, which has compatibility with LiveU & Dejero. Furthermore, it’s integrated with Dalet, Stratus Grass Valley and bit central, with additional integrations in development.

Expand Efficiency

Latakoo had gifted the world’s largest broadcast companies to distribute files worldwide. Now with the help of Latakoo, bureaus and stations can easily get daily news coverage, sporting events & news on natural disasters. 

Simply Upload once, & you can download to multiple locations automatically with workflows powered by Latakoo technology. Once again we are pleased that Jade Kurian is going to be honored with such a prestigious award, and we wish all the best for her future endeavors.

Why Restaurants and Coffee Shops Need A Mobile App?

Why Restaurants and Coffee Shops Need A Mobile App?

Gone are those days when food places, cafes and coffee shops use traditional marketing and advertising strategies to reach the masses. Now, it’s time to get inside at least one of the gadgets that people can’t live without – laptops, computers, smartphones and tablets. We can’t imagine our life today without at least one of these gadgets. Why?? – Because we trust and depend them with a lot of our daily activities: recapping about meeting and events, watching weather changes, tracking health issues and finding our favorite foods nearby. Over the years, as the number of mobile users has grown, mobile applications have also increased and have become an essential part of every brand and business, irrespective of their size and industry. And, so is the scenario of restaurant industry. In order to catch up, and stay ahead of the competitors’ business, every food business must get their own fully customized and user-friendly restaurant app with a robust back end support which allows restaurant owners and managers to manage and customize their processes and services.

Restaurant apps have advanced into something more than an application that provide users keep track of their favorite food places. As these apps provide all-in-one benefits that includes tasty browsing experience, easy reservations, checking out menus, reading online reviews, one-touch communication, social integrations, analytics and even ordering in few clicks. Now many restaurant owners uses their apps not only to delight customers, but also to keep their clientele close to them virtually. Due to this restaurant businesses are topping the list of industries going mobile.

Restaurateurs leveraging mobility to revolutionize the dining experience

Mobile is giving location-based targeting and marketing a major boost, and that’s why it is offering an exceptional benefit for restaurateurs to reach their potential mobile users. In 2013, a rapid increase in use of mobile site and mobile apps is seen in restaurant industry: More than half of food-joints had a mobile site, and almost 30% had a mobile app. Due to lower overhead costs and additional data about their consumers, restaurant owners are also rapidly looking for apps that can provide a competitive edge to their businesses. According to recent surveys, smartphone and tablets users have increased into over 73 million people in the United States alone. These patrons are majorly interested in basic information, especially exploring their favorite hangouts. In recent years, a rapid increase in adoption of these restaurant applications is found because they offer the opportunity to get and retain both local and out-of-town clients without spending much. Menus topped the list as one of most common features in restaurant apps.

A restaurant search feature that includes location-based GPS is also one of the most popular and required features, especially among chain restaurants that have many divisions in many different locations.

Moreover, developing a mobile app is basically offering your patrons to get-in-touch with your services in just few clicks. It is basically a much better way of reaching to your customers than making them to go to a website and stumble across your competitors while hunting for you. Some benefits of restaurant mobile apps are:

1) Increases your Customer Base and Engagement

2) Lets you improve dining experience

3) Increases Customers Retention

4) Optimizes process and reduces time

5) Lets you know your Customers

Parangat, a top-notch Mobile App Development Company, based in India, offers its expertise to develop a robust, customized and easy-to-use app for all types of food-joints, restaurants and cafes.  Our team helps you in adding a pinch of ‘mobile app’ to your business to enjoy the unlimited flavors of customer satisfaction and retention by providing an infinite business opportunities by increasing brand value and revenue. In case you have any queries, feel free to contact us.