Mobile Commerce: 3 Reasons why m-Commerce is the future of Digital Marketing!

mobile-commerce-web600Mobile commerce can be defined as any electronic transaction done via mobile devices such as smart phones, tablets, etc. It includes B2B, B2C and C2C transactions done through mobile devices. It refers to range of transactions that includes buying and selling of goods and services through wireless networks.Since 2010, mobile commerce has raised the digital traffic more than 10 times from 3.5% to 36.9%, with mobile profits rising from $2bn to $42bn in the same period.

For a business to survive and prosperous it is imperative to have a hand on m-commerce and leverage this technology to grow your business. Here is the look at the 3 reasons why m-Commerce is the future of Digital Marketing

  1. Mobiles and Tablets are now part of our daily lives –

Over the last seven years two third of the growing US populations have smartphones and rest other carries tablets. The situation is similar in other geographies where people are glued to their phones round the clock.Hence by default mobile has now become a mandatory medium for eCommerce. It provides convenience, deal with comforts and ideal opportunity that adds value both in terms of revenue and ease of use.

Mobiles and Tablets

  1. Mobile is a force to reckon for business –

Consumers across the globe are using m-Commerce as a medium to buy online. Worldwide the mobile transactions are expected to reach 1 trillion dollar by 2017. As of 2014, approximately 40% of all mobile phone users use smartphones. This number is expected to reach 50% by 2017.Business across the globe through mobile devices is on the rise due to increased use of smartphones and tablets and this is evident from the below facts –

  • 17.4% of total online retail sales is now through m-Commerce, up by approximately 13% from the previous year
  • In 2014, it is expected that 38% of smartphone and 31% of tablet users will make purchase on their respective devices
  1. Numbers suggest M-Commerce is the future –

If one has to go purely by statistics and the several researches conducted by Euro monitor, e Marketer, Goldman Sachs, etc. then the M-Commerce will be the future of online sales.

m commerce

  • Mobile sales were approximately 30% of the total e-commerce sales of $ 638 billion in 2013
  • Mobile sales are expected to grow from $ 204 billion in 2013 to $ 626 billion in 2018
  • Smart Phone based mobile commerce is expected to grow at $20 – $30 billion a year
  • Amongst the BRICS nations, the smart phone users that participate in mobile commerce is as below –
  1. China at ~73%
  2. Followed by India at 54% and
  3. Brazil at ~30%
  • Among the developed economies, smart phone users that engage in m-commerce is at –
  1. 46% in Unites States
  2. Followed by 41% in Australia and
  3. 38% in United Kingdom
  • In 2014, the m-commerce sales from tablet are expected to be at $134 billion that is staggering 62% year on year growth

While, the m-commerce sales from smartphones in 2014 is expected to be $70 billion that is a growth of 41%, year on year basis