Smartphones are a norm these days and almost every individual owns a personal smartphone with internet connectivity. The ability to download various mobile applications, which includes a vast number of free-to-use applications. It makes smartphones highly personalized and customizable to suit the needs of the user. Moreover, smartphone gadgets come with a variety of features and options, which makes them highly convenient for daily use. Therefore, targeting consumers’ on-the-go, using their smartphones seems the right tactic to increase revenues and sales for businesses. Let’s look into some of the key facts of m-commerce for businesses as well as consumers.
Mobile applications offer businesses greater access to their customers using push notifications and messaging ability. This is a great channel for advertising and marketing their products. For example, the business can advertise new product launches to its existing customer database at the click of a button. It can generate potential leads for upselling at virtually no cost. It also helps in helping convert customers that abandon their carts by launching special offers and notifying the customers via the application. Tech companies offer trending software solutions to global businesses helps small and medium enterprises improve their sales and revenues by developing custom mobile applications for their businesses.
Promotes Impulsive Buying
M-commerce mimics the experience of the customer just like in a checkout line, which is why it often promotes impulsive purchases. Just like drinks and candies are kept at the checkout counters, m-commerce applications help businesses promote impulsive buying by demonstrating limited quantity products or spot discounts available to the customer. This experience generally entices the customer to purchase products before they become scarce and out of stock. Often, sellers promote impulsive buying by setting a timed sale or discount, which lapses after a short period.
Access to Technology
Perhaps the biggest drawback of m-commerce is its reliance on internet and technology. This means that without internet, people have no access to the store. This is the biggest reason why m-commerce fails in remote areas where internet connectivity is poor. Also when people travel through areas with limited or no connectivity. The dependency on the internet makes m-commerce vulnerable to power outages and failures. Furthermore, that can restrict access to the store entirely.
Lack of personal buying experience
Even when people buy similar or same products via a mobile application, it does not replicate the buying experience of the user. For example, people looking to purchase via mobile app would not be able to feel the fabric. Or look at the specifications of the products until it is purchased and delivered. Since sizing and personal effects play an important role in clothing and apparel. It can lead to disappointments if the results are not as expected. This can also cause poor and negative reviews about the company that can affect their business performance.
Difficult to trust
The age of the internet has given rise to cybercrime and online fraud, which makes people hesitant when it comes to purchasing online. A consumer would only buy from an m-commerce store they trust or are willing to trust. However, due to scams and consumer fraud, people often receive products that are inferior or fake, which lowers their trust in online purchasing. Even with augmented reality, people could still receive products that are not as per their expectations and would require returns and refunds.
It is evident that m-commerce offers businesses lucrative access to the consumer market with profound means of communicating and marketing products. However, due to a massive shift in mobile application development by businesses, companies like VisionX now have a larger share of competitors for the market. M-commerce is beneficial to consumers and businesses, but it has certain disadvantages. It can lower the overall experience of the users.