Is M-Commerce A Wise Choice For Business Owners?

The advent of mobile phones has made life more convenient. It helps you to stay in constant contact with people that are important to you. In case of an emergency, it helps you to seek immediate help. And last but not least it gives you easy access to the internet. This is why people from all walks of life own and utilize mobile phones.
The growth in the number of mobile web users gives rise to m-commerce. This is basically the buying and selling of products and services using handheld devices. So, now that these handheld devices are in vogue, you can make mobile payments and mobile bookings at anytime from anywhere.
As a business owner it is advisable for you to consider utilizing this medium to promote and advertise your business. You might be wondering why mobile commerce? To help answer that question here are a few figures that have been quoted by various research groups:
According to
• Coda Research - mCommerce will increase at a rate of 65% annually to reach $24 billion in 2015.
• ABI Research - In 2015, $119 billion worth of goods and services will be purchased via mobile phones.
• Juniper Research - The market for mobile payments is expected to quadruple by 2014, reaching $630 billion in value.
Besides these statistical figures, there are various benefits that you, as a business owner, would gain from the use of m-commerce. Here are some of the benefits:
• It provides wider reach to target audience:
Reaching out to target audience is no longer a restraint since almost every person you come across utilizes a mobile phone and has access to the internet on their handheld devices. So, for retailers who have resorted to the use of mCommerce, it is inevitable for them not to be able to reach a wider audience in a shorter span of time.
• It reduces time to order and transaction costs:
mCommerce websites consist of only the important and relevant information for customers. This is what helps to make the process of placing an order much easier as well as reduce the transaction cost for target customers.
• It increases sales:
Most people prefer using their handheld devices to browse the internet when on the move. When the customer orders a product or a service on your mCommerce website and finds it easy to do so. At the same time is satisfied with the product delivered, he/she is prone to visit again to make another purchase.
• It helps to build brand loyalty:
When target customers find that your mCommerce website is user-friendly they will definitely visit it again to make more purchases. So, the more frequent buyers visit the higher the boost in brand loyalty.
Considering the statistical data provided by TBI Research, which shows the growth of mCommerce from 150% to 200% last year and the prediction made by the Huffington Post that mCommerce will be bigger than eCommerce within 5 years. It is quite evident that m-commerce will definitely flourish in the future making it the best choice for business owners. If you want more information on the same you can browse the internet and read blogs pertaining to this domain.