In this blog post, we’ll walk you through what m-commerce is, why it is important, the types of m-commerce, the pros (and cons) of mobile commerce, the common benefits of mobile commerce, and more. Understanding the market for Android users and how they shop online is important. And why most people prefer e-commerce over e-commerce. Also, you will see why it is important for you to have a mobile friendly app or website for Android.
What is that?
Any monetary purchase made using a mobile computer is called mobile commerce, also known as m-commerce or m-commerce.
It’s a step forward in e-commerce that not only allows Android users to buy and sell products and services from almost anywhere, all they need is a smartphone or tablet. .
It also triggered the development of new industries and services, as well as contributed to the expansion of existing ones, such as:
- Money transfers via Android mobile phones.
- Electronic boarding passes and reservations.
- Purchase and distribution of digital content.
- Bet on the road.
- Integrated transfers and contactless payments.
- Android programs that depend on where you are.
- Vouchers, gift cards and mobile ads
Why is mobile commerce important?
In 2017, mobile e-commerce sales accounted for 34.5% of total e-commerce sales, and this figure is increasing.
Mobile e-commerce revenue is expected to account for 54% of all e-commerce sales by 2021.
Your website and online store may be smartphone-enabled now, but that doesn’t mean your business is ready for Android users’ mobile purchases.
And, based on data from marketers, you could lose a lot of income.
According to DynamicYield, “Only 12% of customers find online shopping on mobile easy.” There is a lot of room for change there.
More specifically, the use of our smartphone influences our purchasing choices even if we are in a physical store.
A third of our buying decisions are affected by finding more details about a product on our Android smartphone.
But before we get too far ahead of ourselves, let’s start from the beginning.
Types of m-commerce.
Although m-commerce encompasses a wide range of transactions, they can all be divided into two categories:
Go shopping on the go.
Essentially the same as ecommerce, but available on a portable Android device. Shopping on the go is now possible thanks to mobile-friendly portals, dedicated apps and even social networks.
Bet on the road.
It’s no different from online banking, but some transaction forms may be limited or restricted on mobile devices. Mobile banking is mostly done through a dedicated app, but some banks have started experimenting with chatbots and SMS apps tailored for Android users.
Advantages (and disadvantages) of mobile commerce
There are many ways of doing business with downsides, but that can never be considered a major hurdle.
The pros usually outweigh the cons, and there are many ways to avoid many risks, especially if you know what they are.
Let’s start with the positive.
Common benefits of mobile commerce
Improved overall Android user service.
Shopping has now become more accessible thanks to e-commerce.
Android customers now have access to:
- A wider range of materials.
- Pricing is more efficient.
- This without even trying to take their eyes off their screen.
They have the benefits of mobile commerce, but they no longer need a personal computer.
New Android mobile commerce apps that are improving the consumer experience include:
- Augmented Reality, with leading retailers such as Ikea and Sephora using augmented reality technology to complement their mobile commerce business.
- Chatbots and messaging apps make it easier for businesses to connect with their Android customers using software and utilities that their customers already know and love.
- An authentic omnichannel experience.
An omnichannel experience occurs when a store sells both online and offline, most likely through various online outlets (i.e., Amazon, eBay, Facebook, B2B).
We have already mentioned the value of listing your product where customers are already spending their time. This is recognized as contextual commerce, a more strategic version of the broader term omnichannel.
Understanding Android mobile payment alternatives
When it comes to mobile payments for Android users, selecting the best payment system for your ecommerce business is much more critical.
Consumers would like to avoid having to enter their credit and delivery card details, which is why one-click solutions that connect to mobile wallets give you and your customers more.
Choosing the right payment option will result in an instant increase in conversions for some brands, such as Power Support. Power Support claims a 26% increase in orders within two weeks of implementing Amazon Pay for their Android users.
Digital payments are a form of mobile commerce that has become its own industry.
Mobile payments now contain the following:
- Mobile accounts, also known as wireless wallets,
- Mobile contactless payments
- Closed-loop mobile payments
- Transfers of funds
- Point of sale on the go (POS)
- Payments to the carrier
While not all of these are important for e-commerce, it pays to understand what each form of mobile payment entails.