10 Key Benefits of M-Commerce for Business in 2022
Traditional retail is being surpassed by e-commerce. The amount spent on e-commerce sites and apps has reached more than $4.88 billion by 2021. The Coronavirus pandemic is also a hindrance. The global quarantine has just caused a surge in demand as people order from the comfort of their own homes. Amazon alone is already employing 100,000 people.
As an essential component of e-commerce, M-Commerce is also on the rise. This post will go over the benefits of M-Commerce for businesses and consumers, new trends in the industry, and the reasons for a shop website redesign.
According to statistics, 62 percent of smartphone users have made an online purchase using their devices in the last six months. As a result, the number of retailers purchasing through mobile devices is steadily increasing, so businesses must be prepared to accommodate these newer habits to maximize profits and reach as many customers as possible.
What Exactly Is M-Commerce?
M-Commerce (mobile commerce) is a type of e-commerce that involves selling and purchasing goods and services via mobile devices such as smartphones and tablets. Mobile banking, in-app purchasing, virtual marketplace apps (Amazon and eBay), and digital wallets are some of the most well-known examples of M-Commerce (Apple Pay, Android Pay, and Samsung Pay).
Applications – custom projects created specifically for your company – run on mobile devices, and the M-Commerce service development market as a whole is growing. Applications are generally more expensive than mobile websites, but they have advantages.
Furthermore, applications provide a more in-depth understanding than mobile websites. Online application stores are simple to navigate, with applications divided into class classifications and prevalence. This compares favorably to a website, which clients should either enter directly into their program or search for on Google. However, this can be a minefield, especially for competitive items.
How It All Started
Kevin Duffey coined the term “mobile commerce” in 1997 at the Global Mobile Commerce Forum launch. Coca-Cola was the first company to implement the concept, installing two mobile-phone-enabled vending machines in Helsinki that accepted payment via SMS text messages the same year.
SMS-based mobile payments were already used in parking, train ticketing, and voting for favorite reality show contestants in the early 2000s. However, with the introduction of the iPhone, the SMS payment era has given way to transactions via applications.
With the adoption of this concept by Coca-Cola, the M-Commerce concept gradually gained popularity. Thus, M-Commerce development services boomed. The demand for M-Commerce development services can be analyzed because M-Commerce development services have accounted for more than $64.5 bn in all e-commerce sales as reported in Q3 of 2021 already.
The Key Advantages Of Using M-Commerce App Development Services For Businesses
M-Commerce development services enable brands to enter previously unimagined markets. Your clients can go anywhere with a device connected to the internet for almost no additional cost. It is a crucial factor that distinguishes M-Commerce from traditional physical stores.
M-Commerce development services provide numerous benefits to both small and large-scale businesses. The number of people who own and use mobile devices steadily increases, creating a large and thriving market for some products and services. Your business could also be the one benefitting from M-Commerce development services and witness your sales double in no time.
This increasing trend demand of the M-Commerce sector is more appealing to investors than anything. So now, regardless of your industry, consider the following M-Commerce advantages:
1. Clientele From Around The World
If you are in e-commerce, your potential customers are anyone who has access to the internet. You can go further with M-Commerce. Anyone with a mobile phone on the go could be your customer. The location is no longer important.
2. Purchases Made More Quickly
Direct customer contact results in quick and frequent purchases. In addition, apps load data 1.5 times faster on average, and there is no need to pull data from a server. Every subsequent interaction with an app makes customers feel more at ease, and it takes them less time to engage in subsequent purchases.
3. Processing Of Large Orders
M-Commerce enables you to accept multiple orders at the same time. As a result, you don’t need to funnel customers through a checkout line for a time-consuming physical transaction.
4. Lowered Operational Cost Of Running The Business
Compared to a web store, app development, maintenance, and support are 20% less expensive. For example, if you spent $70,000 on an app, you would only have to spend $14,000 on support each year.
5. Improved Customer Service
M-Commerce apps allow users to ask questions and receive notifications when specialists respond. It’s faster and more convenient than waiting online or receiving an email response. Customers typically have a better user experience when using mobile applications. This is because they are optimized to provide a quick and streamlined shopping experience that is simple to navigate and only requires a few clicks, making sales and leads easier to achieve.
After all, the consumer has a much more enjoyable experience when compared to other methods.
6. Customers Can Be Reached Directly
Businesses can communicate directly with customers by sending alerts, offers, and reminder messages. Customers can learn about new opportunities and services without even opening the app. Of course, this can be done once you get onboard a renowned M-Commerce development service like Infini Sys.
There is no need to visit a store, and mobile apps and websites are generally much faster than desktop sites, saving the customer time and effort, which is invaluable to the modern consumer. Few things are more convenient than having online shopping at the tip of your fingers.
7. Content That Is Tailored
Businesses can deliver personalized content based on individual preferences and purchasing patterns. For example, user location, interests, social media profiles, and items viewed can all be used to offer specific products and services. A good example is The Amazon app, which always has deals recommended for you in addition to popular deals.
8. Data Analytics That Is Insightful
Mobile applications, for example, provide businesses with insightful analytics that allow them to target their customers better and increase sales. Data such as name, sex, location, email, and purchasing history can be easily gathered with user analytics integrated into mobile software.
Various analytic tools are available through M-Commerce platforms, providing businesses with costly data to better understand and target their users. This level of data and analytics is not as easy to collect on other e-commerce platforms, highlight how beneficial M-Commerce is for modern-day retailers, hence, M-Commerce development services.
9. Promotional Opportunities
Mobile apps enable you to reach your target audience more quickly (thanks to social media integration) and reduce marketing campaign costs. Some businesses even profit from the placement of advertisements within their apps.
10. Business Scalability
With an e-commerce presence, you can scale your business to meet current demands. Because everything is available online, there is no need to add new space or inventory for shoppers, and you can use this money for advertising.
Mobile commerce will continue to expand, attracting more users and generating more sales, according to all signs. If your company does not yet have a mobile app, now is the time to get one. InfiniSys-the leading M-Commerce development service is eager to participate in the process and turn your ideas into an excellent M-Commerce app.
If you are interested, InfiniSys will help you advance in your career! We provide full-fledged M-Commerce development services with experienced M-Commerce professionals onboard. So call us now to get started.