What is Mobile Commerce?
Mobile commerce, or m-commerce, is every transaction that takes place on the Internet over a mobile phone. It is also referred to as the, “next generation e-commerce“. This includes two things: purchases made on apps, and purchases made on an Internet browser (on a phone). Some broader definitions even include mobile banking as a part of m-commerce. While mobile commerce is relatively new, it is growing fast. Here’s what you need to know, so you can adapt your e-commerce store for the smartphone.
Mobile Commerce for Retailers
It’s been found that for retailers, mobile commerce works better on a mobile browser, rather than apps. That’s because people use Google to find what they’re looking for, and Google directs people to a store’s website. Only big name corporations, such as Amazon and Target, can make a lot of money off of a mobile app. Other retailers should focus on perfecting their mobile browser stores.
How to Perfect a Mobile Commerce Store
First things first: work on it. Checkout forms on mobile phones are often a pain. Text boxes are too small, product details are harder to see, etc. All of this discourages people from shopping on their mobile phone. However, companies should begin to focus on perfecting their mobile commerce stores just as they have to their e-commerce stores. Work to create a cleaner, smoother experience for shoppers who are checking out on their mobile phones. This can be done by creating a responsive website, that can be viewed with ease on all screens.
Mobile commerce is just beginning to grow — and experts believe it will continue to. In fact, a BI Intelligence report states that by 2020, mobile commerce will make up 45 percent of total e-commerce; that equals to $284 billion in sales. It’s clear the m-commerce market is growing, and possibly quicker than we expected it to. Now, it’s up to online retailers to catch up.