August 2013 -

Understanding M – COMMERCE

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E commerce had replaced market place with market
space.  M Commerce has done away with place and time
restrictions for transactions. 

With the increase in the number
of smart phone users globally, the next obvious revolution is the growth in m-commerce.   
With the woes of shopping increasing by the day, especially in developing
countries where infrastructure is literally non-existent , m-commerce seems to be a boon. Smart phones have
more connectivity in to the tier two and three towns than, physical
infrastructure in developing countries. 

 

Traffic Snarl
(courtesy: MSIL)

Shopping destinations on
weekends seem to be a distant dream with the amount of traffic congestion that
one faces from getting from their residence to the shopping malls or
centres.   You cannot expect a shopping complex near your place of
residence with the real estate price spiralling so high, and are forced to
travel quite a bit with the impending traffic snarls and the time spent in the
car. 

M commerce seems to have dispensed with place and
time constraints with even the metro and the suburbs becoming a hotspot for
online shopping.  With 3G/ 4G becoming better and widely available people
have the advantage of online shopping sitting in the comfort of their homes or
while on the move. 

There is also a green element
to this entire e/m commerce. You dont have to travel to
shop, so we  save on fuel and most
importantly curtail pollution, retailers dont have to build swanky showrooms to
display their wares. This  enables a more eco-friendly atmosphere, we save
on electricity, on fuel and most of all save ourselves from pollution.

“m commerce is becoming such an integral
part of life that of the total number of people interviewed, 67%
state that they will buy newer model mobile phone which have mcommerce facilities, and 35% say that the
tablet would be their next choice. “

(source: http://www.mcommerce.io/mcommerce-set-to-sizzle-during-indias-hot-summer-22042013/)

 

M COMMERCE logo
(courtesy: MSIL)

Also the mobile being used the
way it is done today, to search, to navigate, to get offers etc, we can see M-Commerce evolve in to an experience which would
be holistic, combining the powers of all the other capabilities of the mobile
phone. Eg, Geo specific offers based on location based services, offers linked
to a payment gateway to complete the entire cycle of the transaction with
M-wallet in the mobile, bar code reader for comparing products else where, with
mobile cameras capable of multiple things including scanning. 

In my sense M-commerce would be more personalized and
contextual for today's user, hence the adoption would be far more significant
than e-commerce. This for sure
is an interesting space to watch out. 

 

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