Short for Mobile Commerce, MCommerce can be defined as ‘commercial transactions conducted electronically by mobile device’, or in other words it’s a complete online shopping experience from browsing to purchasing, but all with the convenience of being on a mobile device such as a smartphone or tablet.
At first, purchases made through mobile phones were virtual or digital products such as games, applications, software and sound clips but today mobile commerce can buy any physical product, and carries an increasing share in global market sales. According to IMRG-Capgemini, in Q2 of 2012 the percentage stood at 11.6%, but by Q2 of 2013 it had exactly doubled to 23.2%. Over the same period the percentage of online retail site visits through mobile devices has also shot up sharply, from 21.1% in Q2 2012 to 34% in Q3 2013. This shows that mobile purchases have increased by almost half in one year and are continuing to do so as mobile technology becomes more advanced.
In order to be ahead of the game and to future proof sale opportunities, brands must ensure that they have a website that is as easy to use on a desktop as it is on a mobile and if the brand has an app, ensure that it’s also easy to purchase through it. This is even more essential for ecommerce sites, as a site that does not respond to mobile devices could be losing a huge chunk of revenue.
MCommerce is not just the purchase of products, but also covers all purchasing on mobile and activity around it such as eticketing, loyalty schemes, vouchers and banking to name a few. A well constructed MCommerce strategy can generate revenue using a number of tactics and moving forward, should be considered an important aspect of any digital marketing campaign.
If you feel that your company could benefit from a strategic MCommerce strategy then contact us via our contact form.