M-Commerce: Taking E-Commerce to the Next Level
But one question that I commonly come across is whether m-commerce is here to stay despite the immense popularity being enjoyed by computer-based e-commerce. The answer is yes. And that is because m-commerce goes one step ahead to bring products, services and information directly to our pockets.
This technology is currently in its nascent stages. But we're sure to see it boom in the coming years considering the growing sophistication and falling prices of mobile handsets. And according to a recent research conducted by Acquity Group, an e-commerce and m-commerce research and consulting firm, 5% of the top 500 e-retailers currently offer m-commerce sites or iPhone-optimized m-commerce sites. And taking into account the soaring sales of Smartphone, and the growing popularity of mobile web browsing in the recent years, it is predicted that this figure will reach 50% in the next five years.
So where can m-commerce make a difference?
M-Commerce has immense potential in the Financial Services space. Mobile banking service, an extension of Internet banking is now being widely used. It allows us to use digital signatures and certificates, to carry out funds transfer, electronic payments and helps us easily manage our personal bank accounts. And another added benefit in m-commerce is 'Instant Alerts'. By enabling instant alerts we are immediately intimated about transactions taking place through our registered accounts.
Another popular application of M-Commerce is in ticketing. Booking/purchasing tickets, and paying for them, is made much easier through a mobile device. Physical tickets are slowly being replaced by virtual ones, and most of us are already using this feature extensively. Moreover, since this feature eliminates the need for a computer/laptop for the purpose, it is sure to be more widely used in railways, airways, movies etc. So, m-commerce applications can further simplify and promote online ticketing.
The opportunities presented by m-commerce in the retail space are limitless. Be it is enabling shopping applications on the mobile phone to purchase or place orders, or connecting retailers to manufacturers to ensure a streamlined supply chain, m-commerce offers immense capabilities that retailers can leverage.
Mobile marketing has opened up a more personalized opportunity for marketing. Unlike cold-calling, permission-based mobile marketing enables timely, targeted, two-way communication, which can generate instant responses. And by using m-commerce applications for automated marketing businesses can surely benefit. So, we are sure to witness increased use of m-commerce in this sphere as well.
Also, we should not neglect the extensive opportunities for m-commerce presented by prepaid accounts. According to a market intelligence company, it is expected that by 2015, 8% of the world's e-commerce will be conducted over a mobile phone. And this prediction is not surprising given the fact that in some nations, mobile phones are pretty much the only gateway to the internet, and prepaid subscribers account for a large percentage of mobile users in these countries.
Therefore, in my opinion, the future of m-commerce is very optimistic. Its ability to convert a hand-held device into a debit/credit card, a travel agent, or a shopping guide, makes it more promising. While this technology is still in its infancy, we should not underestimate its versatility and convenience.
