Mobile commerce latest trends
As e-commerce business process is becoming more competitive, online merchants are drawn towards mobile technology in order to stand apart from their competitors and keep up with modern advances in the way people shop. Shoppers, these days increasingly rely on their mobile phones to make purchasing decisions, just like online research and commerce has become a trusted method of doing business. Thus, mobile marketing is becoming an integral part of multi-channel commerce wherein customers can research a product online, snoop out the store IRL and make a quick double check via their phone to ensure that they are getting the best price. A good retailer always tries to make it as easy as possible for their customers to make a purchase or find out about a product. Offering suggestions for related products according to a customer’s favorites or previous browsing history, and predicting where a customer might want to go next simplifies transactions, makes the mobile retail faster and more user-friendly.
The key aspects here are to offer consistency and flexibility; m-Commerce makes it possible for customers to access what they want wherever they are, not depending on proximity to an off line store or their computer or internet connection. Customers want familiarity with the store/website they already know, and the option to customize their purchasing experience. Offering stock details and reservation ability, SMS reports about the delivery status – all these are all ways to offer the customer full control and in turn creating a trust in you.
Hot trends in Mobile Commerce
The creation of barcode scanning applications means that we can even wander around a shop checking comparative prices while we shop. Our current technical generation is made of confident and fickle shoppers and we are demanding better service via mobile technology.
The Geo-location technology enables mobile applications to pinpoint your geographic location. Applications like Foursquare, Gowalla, Loopt, and Facebook Places allows you “check in” to wherever you are. Retailers are using this facility to offer special deals for customers who check in at their location.
With the advanced technology, the mobile commerce has reached the next level in shopping. These applications enable shoppers to use the camera in a phone for scanning barcodes on products, and then search the internet to find out the best prices for the product scanned.
Sites such as the extremely popular Groupon uses group buying at a local level to get big discounts for customers and enhanced business for shops. Groupon has grown at tremendous levels, and has been an acquisition target for companies such as Yahoo! and Google. Their plans are to expand beyond the limited one-deal-per-day market to providing businesses to have profiles on the site where they can offer their own deals whenever they prefer.
Likewise sites like MovieTickets.com enable moviegoers to buy tickets to movies through their mobile. According to mCommerce Daily, as high as 10% of blockbuster movie ticket sales can be accomplished using mobile ticketing applications.
According to data accessed from comScore, the use of mobile banking applications has more than double in the last year.
The sales of tangible goods account for about 6% of mobile transactions, and intangible goods particularly applications and ringtones account for another 17%, according to survey stat.
Text message marketing
Text message marketing facilitates businesses to directly engage with customers and extend deals or promote special events using the text messaging features of mobile phones.
With the mCommerce technology continuing to improve, retailers and shoppers are at an advantage to access all the features of this technology that makes possible a hassle free business process for retailers and a smooth shopping experience for customers.