Mobile Commerce or M-Commerce refers to buying and selling of goods via mobile phones using wireless technology. M-Commerce is a by-product of the technology convergence of Information Technology (IT) and the telecommunication technologies (TCT), which are jointly referred to as Information and Communication Technologies (ICT). M-Commerce is thus an extension of Electronic Commerce (E-Commerce).
The use of mobile devices has penetrated our lives at an increasingly fast pace. Mobile is not a mere handset but includes new device types which have grown in popularity like the tablets and phablets. The customers are getting adapted to a digital lifestyle and expect immediate response and similar experience from each device that they use. They want to take immediate purchase decisions based on online research & get their job done from anywhere, anytime and through any device. For e.g. if a customer completes a transaction from a desktop, he wants the same experience from other devices like mobiles, tablets, phablets or laptops. Applications are becoming uniform across the web and mobile platforms. This is the essence of convergence.
Keeping this changing scenario in mind, all the retailers who run online e-commerce stores are vying to make their stores truly mobile ready, which implies the online stores can be easily accessed and adapted on the mobile devices as well as other devices like laptops and PCs. StoreHippo, a leading e-Commerce platform in India, has jumped into the m-commerce bandwagon and offers this exclusive advantage of making online stores customized for mobile phones.
Mobile Commerce market in India is set to grow at an impressive pace of 71.06 percent over the period 2012-2016. The value of transactions via mobile devices made a quantum jump from Rs 7,800 crore to Rs 36,000 crore between FY13 and FY14, according to Forrester Research. These transactions took place through m-wallets, mobile banking and interbank mobile payment services. This reflects that Indians are now feeling much more comfortable using their Smartphones for making transactions.
Data subscribers in India are likely to grow an average 25% every year to reach 519 million mobile internet users by 2018 fiscal, a report by Morgan Stanley said. This trend is driven by falling handset prices, rise in smartphone penetration, faster bandwidth, enhanced data storage and better user interface.
A major role is played by the convergence of computers and mobile telecommunication devices like cell phones. The convergence of mobile and web has brought in a revolution in retail experience. Companies have realized that they can woo many customers by offering mobile-savvy stores, and are making their stores truly mobile ready.
There are many other applications of m-commerce like Mobile Banking, Mobile Entertainment and Mobile Marketing. Another aspect where convergence of web and mobile can be witnessed is the healthcare industry. Some benefits include wellness on the go, end-to-end remote monitoring, online consultation with doctors. A case in point is Medical Second Opinion (MSO), a site developed by StoreHippo, providing effective online solutions to healthcare needs of patient.
Smart homes have many appliances which are compatible with mobile phones and tablets. Web, mobile and device convergence also helps in preventive maintenance of ATM machines. Mobile Apps are developed to address a specific need/feature and doesn’t take long to make them operational. This is a paradigm shift for IT professionals and organizations.
There are many advantages of web applications being accessible over the mobile network. Only one system is required to be developed which caters to all the users. The development and maintenance of such platforms is easier and allows for necessary updates and modifications from time-to-time. Thus the convergence of web and mobile offers a huge scope for the Indian market. Are you ready to tap this emerging technology? If yes, visit StoreHippo today! Our e-commerce stores offer a seamless experience across all platforms.
Leave A Comment