Over a decade, the internet has changed our entire world and technological evolution have shaped the future in a way that convenience will be served right to you. From going to the market to buy everything to ordering even the smallest of your needs online, the world of technology has bloomed immensely. Introduction of e-commerce has played a major role in rapid advancements. However, there’s something new in the market that’s been spoken of and has drawn all the attention effortlessly – M-commerce.
M-commerce or Mobile Commerce is a thing that’s been the recent topic of discussion almost everywhere. Online or offline, every platform has raised various questions, expressed their opinions and concerns about the same. Having has considerable experience in this industry, we’ve simplified the very term M-commerce for you.
Let’s begin with the basics:
WHAT IS M-COMMERCE?
M-commerce isn’t a new term. Introduced in 1997, it simply means e-commerce on an electronic device that has the capabilities to serve directly into a consumer’s hands anywhere through a wireless (mobile) technology. Mobile commerce doesn’t just confine itself to mobile. The other devices that are suitable for m-commerce are palmtop and even a tablet.
What is surprising in here is m-commerce was invented two decades ago and was first tried by Coca-Cola in the states. However, in India, it is still building up. One needn’t sit at a device that performs only when plugged in (like a computer).
SERVICES ON M-COMMERCE
M-commerce offers a variety of services with an agenda to make your lives simpler and get things done faster. Through mobile commerce, one can pay bills, purchase and sell goods and services, access emails, book movie tickets, make travel reservations, surf the latest news, and much more. This clearly states that m-commerce has not confined itself to one particular industry or sector. It caters to a wide range of industries and business categories regardless of them being into the goods or service sectors.
This widely spread arena has resulted in more comfort for the common man and made space for profits and a wider reach of audience to a greater extent for the people in the business.
Now that we largely understand the basics of mobile commerce, it is time to weigh its pros and cons. Let’s have a look:
PROS OF M-COMMERCE
- Makes our lives convenient
- Saves time and energy
- Everything is a matter of a few clicks
- Attracts a wider set of audience
- Gives another platform for expansion of businesses
CONS OF M-COMMERCE
- One won’t be able to have the real feel of the product
- Security issues regarding online transactions could be a major reason for people not to trust this platform
- M-commerce isn’t applicable for large purchases such as a car or house. This might create a difficulty for the people in this business.
DIFFERENCE BETWEEN E-COMMERCE AND M-COMMERCE
Whenever we have mentioned the term m-commerce, people often confuse it with e-commerce and that is pretty natural. Hence, when you have a team of brilliant developers who are well-versed with technology, they’ll simplify the difference between the two.
It might seem that there’s a thin line between the two but the fact is, they are predominantly different from one another. The tabular differentiation will elucidate the difference in a better way:
|BASIS OF COMPARISON||E-COMMERCE||M-COMMERCE|
|Meaning||Any sort of commercial transaction that includes the mandatory usage of internet and a device that works only on a plugged-in electronic system||Commercial transactions that are done with any wireless electronic devices such as mobile phones, tablets, etc.|
|Type of device used||Computers, laptops, etc||Mobile phones, tablets, iPads, etc|
|Introduced in||The 1970s||The 1990s|
|What is it?||Superset||Subset|
|Internet connection||Mandatory||Not mandatory|
|Audience approach||Narrow due to mandatory presence and usage of internet||Connects to a wider set of audience due to on the go services|
The major factors of M-commerce taking over the market can be summed up in three words – convenience, wider reach, and technically advanced. We hope this blog was sufficed for why mobile commerce is booming with every passing day.
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