The emergence of mobile commerce (m-commerce) has launched a new era of convenience and accessibility for consumers worldwide. With over 6.8 billion smartphone users across the globe, the potential reach of m-commerce is staggering, allowing businesses to tap into a global market of customers who prefer the ease of shopping on the go.
As of 2022, m-commerce accounted for nearly 66% of global e-commerce sales, and this trend is expected to continue its upward trajectory. So, in this article, we’ll delve into the tendencies that are shaping the future of mobile trade to reveal its disruptive force and help businesses leverage its transformative potential to thrive in a dynamic online landscape.
Mobile Commerce: Where It Stands Now
Mobile Commerce refers to the process of buying, selling, or engaging in financial operations through smartphones and tablets. Unlike traditional e-commerce, which primarily relies on desktop computers or laptops, mobile rade leverages the mobility and connectivity features of these portable gadgets. This enables users to shop online, make payments, and access a wide array of services from virtually anywhere with an internet connection.
M-commerce encompasses various activities, including but not limited to:
- Mobile shopping apps;
- Mobile-optimized websites;
- Mobile wallets;
- Peer-to-peer payment platforms.
The Newstore 2022 research shows that over 60% of customers choose mobile shopping apps over websites and nearly 88% of buyers have some shopping app on their phones.
M-commerce has deeply influenced consumer activity by simulating shoppers to make informed decisions at their own pace, compare prices, read reviews, and access a plethora of options, all from the palm of their hands. Thus, almost 50% of shoppers use mobile devices to compare product and service prices. This shift, in turn, has made businesses adapt and optimize their strategies to meet the demands of an increasingly mobile-centric audience.
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