Mobile Commerce has become an essential factor for business growth, and it keeps growing further. With the increasing numbers of smartphone users, it makes sense that brands are now concentrating on mobile optimization. Though there is a long list, we have covered some of the top advantages and disadvantages of Mobile Commerce for business growth.
Advantages of M-commerce
1. Process Multiple Orders
Mobile commerce allows businesses to process multiple orders at once. There are no long checkout lines, and customers can buy products at any time.
2. Huge Traffic
Mobile phone apps help businesses to gain user data. The latest stats about mobile commerce show that 86% of mobile usage activity comes from the apps. This helps businesses to market their goods to potential users.
3.Lower Inventory levels
Another benefit of M-commerce is that a business can keep its inventory levels low and track the ordered item. This reduces the need to store specific items for too long and prevents backorder situations since business owners will always know what is available in their stock.
4. Don’t Need to go to Brick and Mortar Stores
Customers can buy whatever they need in a few clicks and have it delivered to their homes. This creates great opportunities for businesses because it helps to reduce the maintenance cost of brick and mortar stores.
5. Encourages Impulse Purchases
M-commerce allows customers to easily access product information. All of this creates an impulse to buy the item as soon as possible. To add to this impulse, platforms can show a limited quantity or have a countdown for an item to enhance the sale.
Disadvantages of M-commerce
1.Slow Page Loading Speed
According to m-commerce statistics, mobile and desktop websites have a maximum of three seconds to load before a customer stops using their services. Therefore, it’s very important to have a well-designed website, especially for mobile commerce.
Since mobile commerce creates a worldwide marketplace, the competition out there is quite tough. It doesn’t matter if a particular business is the only provider within a community; making sales from m-commerce could take some time. This is why you have to be unique and stand out from the crowd
The risk of fraud when using mobile commerce is comparatively high. Mobile commerce statistics for 2018 show that over 60% of mobile marketers are not capable to prevent fraud in their marketplace.
4. Protecting the Privacy of Consumers
Businesses have access to their users’ private data, but also have a responsibility to protect it. They should ensure that every partner they work with has clear user terms so that users can be informed clearly how their data is handled.
If all your customers are spending good time on the internet, you must try to build a strong presence on the internet as well. Mobile commerce is the revolutionary step to survive in today’s competitive world. This blog has covered the advantages of mobile e-commerce, as well as some disadvantages to give you a clear picture.