November 1, 2016

mCommerce – A Radical Shift in Point of Sale

The dawn of e-commerce transformed the way traditional business was being conducted. Transactions between the customer and retailer shifted from brick and mortar shops to the online world. It saved timed, offered convenience and increased the sales per day. Traditional commerce underwent a revolutionary change. But it did not stop there. With new technological advances, the online world expanded. Apple’s introduction of iPhone in 2007 gave birth to a new and competitive market. A steady increase has been seen since then in the number of smartphone users, and it has been predicted that by 2016, two billion consumers worldwide will get a smartphone.

Retail outlet in your customer’s pocket

The introduction of smartphones gave rise to new avenues. The business world has now moved from e-commerce to m-commerce. More and more consumers now use their mobile devices to purchase products, as it overcomes the limitations of e-commerce. While e-commerce requires an Internet connection and a computer, m-commerce uses a mobile’s 3G and 4G network. Businesses are now tapping into this new segment that widens their scale of reach. Retail spending habits are transforming. Consumers are using new tools to enhance their shopping experience. The evolving behaviour patterns in a consumer can be seen in the exceptional growth in online shopping in the past decade. M-commerce is not entirely different from e-commerce; rather it is a part of it that involves transactions on smartphones and tablets. The success of m-commerce lies on a website’s responsive design, mobile apps and a good user experience.

Why opt in for m-commerce?

Growth in smartphone and mobile internet users

Nearly two million adults in New Zealand made a purchase through Internet last year. The continuous increase in the rise of smartphone users has made it imperative for companies to ensure that they offer the convenience of mobile ordering for their customers.

Increase in online sales

As m-commerce offers the convenience to place an order anytime, anywhere, retail sales via smartphones have been increasing. Users tend to constantly browse for more offers online and compare prices before purchasing a product.

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Builds brand loyalty

A good mobile ordering service can increase brand loyalty among customers. With features such as money-saving offers, ability to locate physical stores and the ability to purchase via app encourages shoppers to return to their favourite brands. It also helps in better engagement with brands, as customers can review and share their favourite products on social media websites.

The numbers speak for themselves

If the benefits above don’t seem convincing, the statistics collected from the last 10 years from the New Zealand market shows the radical shift in the point of sale.

Consumers are now rapidly adapting to the changes technology has to offer. M-commerce goes beyond simple online shopping. Easy checkouts and provision to save your credit/debit card numbers for repeated purchases help in boosting the revenue generated. Through mobile ordering, a company’s point of sale is not restricted to a specific location. It travels with the customer.