However, wireless, mobile computing, and mobile commerce development are the domains that are growing by leaps and bounds. Soon, it is believed that mobile commerce will capture the whole retail market and restaurant industry by 2023 and beyond.
So if mobile commerce has triggered your interest now and you are thinking, "What is mobile commerce?" And what will be the future of mobile commerce? If you want to know why m-commerce is so trending, then continue reading it because we have gathered interesting information for you.
What Is Mobile Commerce?
Mobile commerce, or "mcommerce," is the most recent technology trend that involves the use of mobile devices such as tablets, mobile phones, iPads, and all the other handy gadgets for business purposes.
In a broader perspective, the term "mobile commerce," or m-commerce, is a subcategory of e-commerce that can be carried out using mobile devices. Mobile commerce brings convenience and ease for customers and retailers.
Mobile commerce encompasses a variety of activities, including processing payments, managing business operations, keeping an eye on inventory or supply chains, taking orders, processing payments, managing sales, and monitoring deliveries.
We cannot underestimate the advantages of m-commerce because it enables users to buy or sell almost anything or anywhere by simply using mobile devices. It is now becoming a proper medium for online shopping.
Why Is Mobile Commerce So Trending?
Mobile commerce is on the rise, and it is likely that businesses will invest more in mobile commerce and virtual stores than in their physical presence in the near future because it is a handy device that provides huge benefits.
Also, mcommerce is triggering the establishment of new ideas and services such as contactless ordering and payments, mobile wallets and mobile money transfers, location-based services, and marketing through digital vouchers, coupons, and loyalty programs.
Mobile Commerce Strategy For Retailers
Mobile commerce is trending, which is why retailers are using attractive strategies to make their businesses prominent. Some of the interesting mobile commerce strategies being used by retailers are given below:
Providing Mobile Apps
The most innovative mobile commerce strategy used nowadays by successful retailers is providing mobile apps for their respective businesses to customers. Now customers don’t have to browse the web while they shop because it can be done via a mobile app.
There are multiple platforms that design customized mobile apps for Android and iOS. At the same time, there are many platforms like Howmuch.pk where stores get themselves registered, their story appears in the Howmuch.pk mobile app, and customers can order from that.
Using Mobile Marketing
Mobile marketing is another trending phenomenon nowadays that increases the chances of marketing opportunities. There are many mobile analytics applications that give quick insights into how well your business is performing.
At the same time, mobile marketing becomes very easy and handy with mobile analytics software as it tracks customer preferences, monitors traffic, discovers the point of purchase, and targets customers accordingly.
Mobile commerce uses the strategy of social commerce, in which retailers are more active on social media sites. The biggest examples of social commerce are Facebook, Instagram businesses, and WhatsApp businesses.
Social commerce helps businesses reach target customers more quickly than any other way. Also, the retailers easily engage the active users with their products and services over social media platforms, and this is absolutely amazing.
The most interesting thing about e-commerce mobile shopping is that customers chat directly with the representative, ask detailed questions, and satisfy their queries prior to purchasing, which gives the customers a very satisfying experience.
At the same time, the quick response of customer service representatives (CSR) to customers ensures the credibility of a brand and makes customers feel more secure and confident about their online purchases.
Augmented reality is one of the most interesting m-commerce strategies because it provides users with an ideal way to use the technology and virtually try the products they wish to purchase. Professional photography gives users a personalized experience to see products.
Thus, when shopping online, customers enjoy the experience with full entertainment and inspiration. Also, augmented reality gives users the opportunity to unite physical retail items with the virtual world.
What Are The Benefits Of Mobile Commerce?
Well, mobile commerce is itself a benefit to retailers and customers because of its reach, accessibility, credibility, and convenience; however, we have narrowed down below some prospective benefits of a mobile commerce app and a mobile commerce shopping cart.
The significant advantage of mobile shopping involves online shopping using mobile devices. Now, there are many dedicated online shopping apps that can be conveniently viewed via mobile, and you just add products to your cart and checkout.
Now gone are the days when you had to plan your shopping and then go out of your busy routine to buy groceries, clothes, accessories, furniture, or anything else because now shopping malls are mobile and you can buy everything online.
Convenient Payment Methods
Mobile commerce gives users convenient ways of transacting, such as mobile banking, internet banking, transactions via mobile wallet, vouchers, coupons, etc. Also, it gives the user the option of contactless payments and payments via scanning QR codes.
Mobile banking is really convenient; however, there is a limit on transactions. The most common examples of mobile banking are Easy Paisa, JazzCash, Raast, PayPal, Stripe, and many other convenient payment methods.
The mobile commerce development gives the convenience of one-click ordering, as instead of walking into the store and opening your desktop to visit the shopping portal, you just conveniently shop with one click on mobile apps.
Mobile apps usually have an attractive user interface with a wide range of products, and the prices are displayed properly with the product descriptions so users can easily compare prices and shop from the comfort of their homes.
Mobile shopping provides a personalized experience as it is portable, and that is why it provides a personalized experience. It gives customers a reason to stay connected with your store for a longer period of time.
With push notifications, app rewards, shopping coupons, and geotracking, retailers can stay in touch with customers, and the customer stays connected directly with retailers through chat and solves their queries faster and in a more accurate manner.
Mcommerce creates a true omni-channel marketing approach that allows customers to reach the target audience at the right time. Thus, mobile commerce increases the chances of enhancing the customer base.
The biggest advantage of mobile commerce is that it reaches a wider audience in a very short time. In this contemporary world, everyone has a mobile, so the people who use mobile are prospective customers in mobile commerce.
Best Mobile Commerce Software
The mobile commerce continues to rise day by day with the high speed of the internet; therefore, it depicts a clear picture of the future of mobile in the retail and marketing industries. That is why it is recommended to use mobile commerce software.
There are many mobile commerce software options that exist; however, point of sale software, or mobile POS, is also an ideal option. Therefore, you can opt for retail POS software for your business.
One of the best POS solutions for retail stores is Howmuch Point of Sale Software, which is an all-in-one cloud-based point of sale software with mobile applications and a website presence. It allows you to maintain a smooth presence online and in-store.