What is M-Commerce? Definition and types of mobile commerce: M-Commerce advantages and disadvantages
Definition of Mobile Commerce:
M-commerce (Mobile Commerce or sometimes written as the m-commerce or m commerce), Commercial transactions conducted electronically by mobile phone. It is the use of wireless handheld devices like mobile phones, smartphones, cellphones, and tablets to conduct commercial transactions online, including buying and selling products and services, online banking, and paying bills. It is the form of e-commerce; m-commerce enables users to access online shopping platforms with the use of mobile phones.
Types of M-Commerce (Mobile Commerce):
There are many different types of M-commerce?
Mobile Shopping: Mobile shopping, similar to e-commerce but only accessible to the mobile device this type of m-commerce allows the customers to purchase products and services from a smartphone or mobile phone, using an app such as Amazon, eBay, OLX, or over a web app.
This type of m-commerce is quite similar to online banking; you may find that some transaction is restricted or limited on mobile devices. Mobile banking is a type of implementation that usually involves dedicated app. Mobile payments enables users to buying products using mobile devices. Like a digital wallet such as apple pay, without needing to pay cash or swipe a card allows the customers to buy products.
It is the money method for the products and services through portable electronic devices such as mobile phones or tablets. This technology can also use to send or transfer money to your friends and family members such as with the app of PayPal or payoneer.
Advantages of M-Commerce (Mobile Commerce):
- Increase customer retention by being more easily
- Easy access to shopping online
- Have more options for selecting the products.
- More convenient for the customers to compare prices, product reviews, and making purchases without using the computer, pc, or desktop.
- The better customer experience.
- There are multiple options to pay like credit cards and debit card payments.
- Reduce marketing costs.
Disadvantages of M-Commerce:
- Mobile payment options are not available in some locations and also not supported every type of digital wallet.
Tip For Using Mobile Commerce Effectively:
- The mobile-oriented email marketing campaigns:
- The proper tracking of mobile commerce analytics
- SMS marketing and the use of mobile digital wallets
- Social media and the websites optimisation right use
Future scope of mobile commerce:
Mobile commerce is rapidly expended nowadays, everyone is busy and does not want to west their time and energy to go shopping and buy the stuff for them. They prefer ordering online from their home itself. Mobile commerce is the platform that provides you the easiest way of shopping online with just using your mobile phone or your smartphones. Many businesses are moving on M-commerce, and it is expected that the majority of purchases will be using completely mobile devices or smartphones.