The activity of sale or purchase in a traditional manner is called commerce, whereas the invention of internet and mobile has introduced us to eCommerce and M-commerce. Trading through a mobile device is not new, but it was limited to a specific community.
The availability of reliable and affordable mobile devices has further enhanced the usage so much that a lay man can own one and get connected to the internet without any barrier. The easy internet connectivity has compelled users to find products and services of their interest, and place orders through smart phones, tablets, and other digital gadgets.
Today, Mobile Commerce is a massive industry that is welcoming more and more business to go live, reach the mobile users, and earn targeted revenues. Smart phones have simplified the ways people used to search websites. Back a decade or two, people used to switch on their desktop PCs, access the internet with a slow speed connection, and sit like the way they behave in their office and find things over the internet. The whole experience is revamped with a mobile gadget. Now, they can search from the comfort of their living room or simply browse things on the go.
According to MarketingLand, the top eCommerce websites observes around 55% of traffic from mobile devices, and only 45% users are visiting through other devices. The increasing use of mobile gadgets has given birth to another industry known as mobile commerce that is running parallel to the eCommerce and growing bigger day by day.
The propagation of Mobile commerce is not only limited to the USA and European countries, as the surge to adopt technology is widespread across the globe. The growth rate of M-commerce is calculated to be around 250% in Asia over a period of 2 years only.
Initially, people used to avoid making online payments as they have afraid of theft, fraud, and misuse of their financial details. But, the improved security measures and safe payment methods by eCommerce websites have compelled users to pay for products confidently. This is among the core reasons that 19% of the ePayments are done through mobile phones the last year, which is speculated to be 27% by 2018.
The mobile device has become a part of our lives so much that most of the users depend on their digital gadgets to search for a or service, or the nearest place. About 76% of mobile users are habitual to find the nearest store by tapping their smart phones. This has made the stores to make even more money by directing potential customers to an outlet nearest to their home or office location.
Due to the flourishing M-commerce ecosystem, it is said to amass $90 billions of sales by 2018 in the USA alone. The speculated figures in other continents can also add a whopping amount of revenue to the entire industry. Technology is stepping towards the betterment of mankind that’s why every user aims to adopt the latest trends.
The consumer behavior to enjoy the comfort of is supplementing the industry and urging merchants to serve the community with their best ever products and services. The infographic includes quite interesting and intriguing facts that may prove useful for you while starting or expanding an online venture.