E-commerce stands for electronic commerce. With the help of e- commerce, one can purchase the things online. There are different types of e- commerce like Business to business, business to customer, customer to customer, business to government and mobile commerce. Online sales and transactions that take place through an electronic device like the laptop, tablet or the mobiles is called Mobile eCommerce.
Consumer behavior has undergone a sea change with more people adopting the online sales. This trend has further simplified the life of consumers with the availability of internet facility through I Phone or the mobile
E-Commerce products available on the mobile.
- Mobile ATM
- Railway Ticketing facilities (eg. IRCTC)
- Content purchase and delivery
- Information services like sports scores, news and share market information
- Mobile banking
- A facility to make payment for bills
- Mobile marketing help the consumer gain knowledge of products available
- Purchase on mobile stores (downloads of music, videos etc.)
- Amazon.com and Alibaba.com are some of the big vendors offering various items as purchase through mobile eCommerce
- Electronic gadgets as online stores
The online purchase is targeted by the electronic market towards the younger generation which uses the mobiles more than other age group people.
Trends of eCommerce through mobiles and smart phones
According to the international Business times eCommerce through the mobile has increased over 56% from 24.8 billion $ in 2012 to 38.8 billion $ in 2013.
Smartphone users according to a survey are doing pre sale search of the products along with the price deals offered and are making informed choices. Since this type of eCommerce is hassle free and it has a strong technical support more and more people are adopting it.
Companies are launching a variety of applications to make the mobile commerce easier.
At the same more and more business houses are using the advertised facilities and are reaching out to a huge global market.
Benefit of eCommerce through the mobiles:
As mobiles are portable devices. So buying or selling of items is easy. In this, two ways business can be done very easily.
- ECommerce facilitates both selling and buying through mobiles and so a two way business opportunity is fully utilized.
- Ecommerce through desktop relies heavily on internet but ecommerce through mobiles (also referred to as M-commerce) with 3G and 4G facilities helps the user connect to any website anytime from anywhere.
- Since the modern generation has a tight work schedule eCommerce through mobiles helps them save time and energy.
With all these advancements there is the issue of security of internet privacy which is an issue of big concern. Mobile phone providers and internet companies are working in tandem to provide a long term solution to address this concern. M-commerce holds the key to the economic growth and will be the pulse indicating the economic health of every society.