Why m-Commerce will be on a Growth Spree in 2015?
2014 has set a milestone for Indian e-Commerce with a significant shift in m-Commerce transactions; showing that mobile devices have played an important role in the buying behavior of people. With continuous and speedy increase in the use of smart phones, m-Commerce growth seems unstoppable in 2015 too. Online store owners have understood what Mobile Commerce can do for their stores. It has taken the online world by storm with e-Commerce business getting more than 40 to 50 percent of traffic from mobile, which is expected to grow further in 2015. Stated are few of the reasons responsible for growing inclination of people towards m-Commerce:
Affordability of Smart Phones
One of the main reasons for growth of m-Commerce is the increasing number of smart phones among users due to its affordable price, thus generating new customers for online stores. By 2016, India is expected to exceed 200 million smart phone users, surpassing US as the second-largest global smart phone market as per the report by the research firm eMarketer. According to eMarketer, availability of affordable smart phones will increase the number of smart phone users worldwide, crossing the 2 billion mark in 2016. eMarketer estimates even say that more than a quarter of the world population will use smart phones by 2015 and over one-third will be using smart phones by 2018 which comes to over 2.56 billion people!!
Convenience and Mobility
With increased use of smart phones, people choose to browse web through them while being on move. They thus shop on the go from their mobiles, which even triggers impulse shopping. People specially the young consumer base don’t like waiting and expect fast processes, thus preferring online purchases. Smart phones give the option to do shopping, book tickets, order food online etc. from anywhere at any time, thus giving a boost to quick m-Commerce transactions.
Improved Shopping Experience
Online stores have a mobile optimized website which requires minimum resizing and scrolling, the content and the images fitting well into different screen sizes and across various platforms and ensuring a high-quality user experience. e-Commerce stores have their own mobile apps with all functionalities similar to their site, giving a rich shopping experience on users’ smart phones.
As per Telecom Regulatory Authority of India (TRAI) data released in December 2014, 92 percent of the total 237 million internet subscribers in India have subscribed to mobile wireless, reflecting users’ preference of mobile internet services. eMarketer has indicated that over 2.23 billion people across the globe go online via their smart phones at least once in a month, with a raise of mobile internet users by 15.6% worldwide. Growing use of 3G is also one of the reasons behind the increase in m-Commerce, due to its browsing speed.
Customers find it convenient to make mobile payments as it helps to transfer money and pay for items purchased online, on the go from their smart phones. Mobile Payments can be made through internet banking, credit card, debit card etc. thus serving as an alternative to cash or cheque.
Transactions made through m-Commerce platform are relatively safe as fraudulent activity can be tracked. This makes it a reliable platform, with an assurance to mobile users for safe and secured transactions. There are less chances of misuse of login credentials when logged in from mobile as compared to a computer system.
All these factors thus indicate that there will be a remarkable growth in m-Commerce in 2015 worldwide. m-Commerce has increased considerably and is expected to reach new heights in the coming years with even chances of reaching the levels that e-Commerce enjoys today!!
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