M-commerce or mobile commerce is the buying and selling of goods and services through wireless handheld devices, commonly smartphones. Mobile commerce has changed people’s lifestyles, from the way we shop to the way we exercise, from the way we study to the way we visit places, from the way we express ourselves to the way we consume. Our smartphones are always within our arm’s reach and dictate our daily habits, and they will continue to thrive in the future. According to a study, 79% of smartphone users have made a purchase online using their mobile devices.
"Buy buttons" have been added to social media platforms like Facebook, Twitter, and Pinterest so that users may make purchases without leaving the website. Furthermore, a lot of retailers have added one-click checkout to their websites. Customers may only submit their payment information once for this method, after which they can use the one-click option to make purchases without having to do so again. Mobile accounts for over 67.2% of all e-commerce.
With Millennials and Gen Zers having enormous purchasing power, app usage will continue to increase and play a significant role in sales growth. Due to their propensity to do a larger percentage of their shopping on smartphones, these tech-savvy customers have the potential to increase sales volume.
In an effort to cash in on this emerging trend of purchasing using social media platforms, many well-known companies and names, including Facebook and Myntra, have also forayed into the Indian social commerce market. Overall, the Indian market is still in its development stage and will change the market's dimensions over the course of the next 24 months.
Jooli has also entered the m-commerce space introducing a whole new experience of shopping online, to bring shoppers and merchants together. Click here to know more about the Jooliverse.