Approx a year ago, when Myntra, one of the major online fashion stores, announced that they will deal through their app only the whole market felt the tumult. However, soon after when the whole market actually understood the reason behind it, it also appreciated the move by Myntra. After this incident, the entire market got the significance of smartphones and started giving a thought to the prospectus. Eventually, the news of joining Myntra by many small or big e-commerce portals including Flipkart floated in the market for some time. Needless to mention, the latest advancements in e-commerce is making marketers keep their eyes open. Let us find out how the indicative trends of 2016 are claiming mobiles/smartphones in the future.
Statics reveal the Truth about M-Commerce: According to Trinity Digital Marketing, one of the leading web design firms revealed that there are over 1.2 billion people accessing the web from their mobile devices. Mobile adoption is growing 8 times faster than web did in the 1990s and early 2000s. A recent study also revealed that there are approx 4.43 billion smartphone users worldwide while India shares a big bite with a whopping figure of over 200Milion smartphone users by January 2015 and more than 150 million users access the internet on their smartphones in India. In 2013-14, mobile commerce in India started crawling and now, by the end of 2015, it has picked up a rapid speed.
Growth In M-Commerce –A Lesson For All: A revolution in the habits of purchase is vastly due to m-commerce. However, it has its lessons to make us learn, especially to the mobile app developers as well as to the other players. One of the lessons is connected with the mobile user base and its expansion at an exponential rate. Therefore, the opportunities in m-commerce and in the rest of the fields will continue to multiply. Second, when there is a changeover from e-commerce to m-commerce, it is incredible how rapidly things take place. The second most populated land, India could not even make their 30 most alluring online markets.
Drivers and Limitations: In April 2015, a report was released by a Market research firm Zinnov with an encouraging sign that India’s Mobile Commerce market can touch the mark of 19 billion dollars by 2019, which is 850 percent higher than its current figure of 2 billion dollars. The reason is quite obvious- the growth in the users of smartphones.
The Game of the Apps: Gone are the days when we used to go to Google chrome in our smartphones and type in the name of the website we want to explore. The present-day is reigned by applications (apps). . Be it a shop, restaurant, transportation, public service, employment, security, railways, buses, flights, hospitals, emergency services and whatnot, everything is available through an app and conveniently accessible. In addition, almost all the major websites, especially the ones that are into e-commerce have their apps or better we say, have another platform to drag their customers to. In the near future, we will see some personalized apps compatible with specific stores and can be directed at the customer at the proper moment and place. Diverse mobile payment methods will also be introduced once these advancements take place. It is expected that the e-commerce apps will have only one tap purchase gateway with no extra troubles of providing information on credit/debit cards, purchase info, etc to offer a different experience of mobile payment methods.
Conclusion: There is immense scope for mobile commerce in India. Also, a majority of Indians are being connected to the internet for the first time. However, it has been explored by many marketers, Myntra for instance and more to join. They are looking for ways to keep the price of the products much lower that the customers have never seen before. Also, they are introducing the products that were not available in the market in the past. The convenient access to various e-commerce platforms through their applications offering attractive deals has given a boost to the purchasing. The growth of M-Commerce is so rapid that experts believe that it will acquire half of all e-commerce by 2018. Therefore, it is not an overstatement if smartphones are considered the future as far as our shopping habits are concerned.