The Mobile Commerce market is poised for good growth prospects with investments in the coming future, due to increase in the smartphone, tablets, mobile devices, and internet enabled devices. However, accompanying these would be challenges such as securing the flow of information, application and network infrastructure, and intense competition. The evolution of the mobile application infrastructure, cross-platform communication methods and the familiarity of people with the mobile applications and services would brighten the future of mCommerce services.
With the fast moving internet technology and increasing growth in smartphone market, the world is becoming closer in terms of communication. Due to this, the new modes of business transactions and communication have found their way in the market. mCommerce services are the medium through which people can perform business transactions and communication with each other without paying heavy charges unlike in traditional mode of services.
The high growth of m-commerce is propelling vendors and retailers to make huge investments in mobile advertising and promotion of their brands. Mobile devices like smartphones and tablets are offering more personalized services like location-based marketing and promotional services to consumers. Also, these devices increase the reach and influence of mobile advertising. The market is also witnessing the shift from mobile web to mobile apps that provide vendors more opportunities to target end users with customized offers. These apps gives an opportunity to notify users about the latest offers, discounts, sales, and loyalty programs through push messages, even when they are closed.
Buzzing around, Beacon Technology is catching fire in mCommerce. Retail is the most often cited example of an industry employing beacons. We at Syscraft have recently deployed Beacon App for one of the Retail Giant to improve connections with their customers & staff. This enabled their devices to alert apps or websites (which the user has opted into) when someone approaches or leaves their Store. They can easily detect where a customer is at any given moment and can push timely messages to that customer promoting products or providing other useful information. Precisely, the company can use beacon messages to capture users attention as they go by, enticing them to enter. Once inside, beacons can be used to make personalized offers, speed checkout processes and pretty much anything else the retailer can dream up.
Statista reports that mobile retail sales are expected to more than double between 2016 to 2019, from about $116 billion to about $267 billion. To meet consumer demands, retailers must begin viewing their customer relationships as partnership roles, and utilize customer data to deliver the best and timeliest opportunities to customers directly to their mobile interfaces—and any other channel that may emerge in the years to come.
Is Mobile Commerce in your company’s future? Increasingly, the odds are that the answer will be yes and we at Syscraft are working hard to bring in mobile commerce as an integral part of business strategy.