M-Commerce, also known as mobile commerce, involves buying and selling goods through handheld devices like smartphones or tablets. M-Commerce is another E-Commerce form that allows users to buy or sell goods through a desktop computer instead.
M-Commerce is steadily becoming one of the most widespread and popular shopping options for many consumers and businesses. There are even companies who solely work as M-Commerce or E-Commerce businesses, thanks to its popularity!
What Kind of Companies Can Use M-Commerce?
With all kinds of E-Commerce on the rise, it is understandable that all companies will be looking at ways to branch into this sector, and whether E-Commerce, M-Commerce, or a combination of both will be best for them.
- Finance and banking: One of the most popular ways to use M-Commerce is for finance and banking. Large finance companies or banks can set up M-Commerce apps to make online banking more user-friendly for their customers, particularly the younger generations.
- Online shopping: Online shopping is probably one of the most significant users of M-Commerce, either through mobile-phone-accessible websites or apps. Some of the biggest clothing retailers in the world use M-Commerce.
- Reservations: Everyone has heard of the vast rising popularity of Airbnb or booking.com, both of which use M-commerce to create online reservation systems. However, it is not only the accommodation reservation business that can benefit from M-Commerce, any company that uses reservations or appointments can use M-Commerce for this purpose.
- Online Marketplaces: Online marketplaces such as Amazon have a massive presence across M-Commerce and have been users of M-Commerce for quite a while, many operating solely on M-Commerce.
- Mobilephone Payments: Mobilephone payments are a newer form of M-commerce and quickly becoming huge users of M-Commerce. Apply pay and Samsung wallet apps allow users to pay for goods and services from their bank card by just tapping their phone!
Benefits Of Using M-Commerce
Improved customer experience
One of the biggest draws for many customers to online shopping is the increased experience they receive. With access to thousands of options, a seamless app is essential to coming out on top.
Reach all groups
Businesses can use M-Commerce to expand into groups of customers they previously have not been able to or areas where they have not been before. Not only does this boost sales, but it will also increase brand awareness for the company.
Product discovery
Shopping online allows customers to shift through hundreds or thousands of options without getting tired or needing to leave a store. Offering customers the option to shop online will allow them access to a huge range of products.
Impulse buying
We have all heard of and partook in impulse buying. In-store marketing teams will have ideas on how to increase impulse buying. M-Commerce is so easy to use and access that impulse buying is nearly a given for many customers.
Conclusion
An estimated 2.14 billion people shopped online in the year 2021, just over a quarter of the world’s population. With huge numbers of customers opting for the ease and convenience of M-Commerce, it really is a must for all businesses. Please note that this is only some basic information on M-commerce, call us at 310.826.7000 for more information.