In a world where the mobile usage has reached at the tipping point (half of the world now has a mobile phone) and consumers are spending more times on their mobiles than on any other technology devices, it has become imperative for businesses to learn ways to capitalize in on the trend. For this, it would be wiser to understand the nuances surfacing at different layers of technologies.
Shift from e-Commerce to m-Commerce (mobile commerce) – Q1 2015
According to a PayPal’s research based on behavioral analysis of 17, 600 online shoppers across 22 countries, m-Commerce’s CAGR (compound annual growth rate) was expected to grow at 42 per cent (2013-2016), while the total e-Commerce was predicted to proceed with just 13 per cent.
Shift from Web-based shopping to mobile app-based shopping
Users are shifting from Web to app. 85 per cent of their time is spent with mobile apps. Shopping apps’ usage has secured a triple digit growth in 2014 as per a report from Flurry. It outpaced every other app category as reflected in the figure below.
Time spent in shopping apps (at home and away from home)
Time spent on mobile apps varies throughout a day. Flurry estimated the time spent by users on apps being at home and away. The survey reflects that during the day mobile shopping prevails. Shopping apps use spikes during the commute time of 9 a.m., lunchtime at noon and then again at 8 p.m. in the evening. Some are so shopaholic that they continue even in the wee hours as shown in the image below.
Techvedic’s Approach and Solution
Techvedic helps partners to unlock their business potential and monetize the m-Commerce trends and opportunities emerging in the hyper-connected world. Harnessing the latest industry insights and technology expertise gained over the years, Techvedic strives to provide agile, secure and flexible mobile commerce solutions and services to partners to let them transform their operations and business models to withstand the needs of the growing consumerism in the contemporary society of the 21st century.
Strategy and Consulting
Before embarking on the m-Commerce strategy roadmap development, we urge and invite our partner for an open discussion. This helps us in understanding their evolving business needs and operational challenges, and rationalizing our services to develop responsive and mobile-friendly website and intriguing mobile apps – both platform-specific and –antagonistic – that can drive audience-brand engagement and conversion rate.
Our team entrusted with the job of mobile commerce solution deployment thoroughly analyzes the consequences and impacts of it on the business prospects – brand’s reach, exposure and return on investment. We align the technology and product with the business operations and help the workforces to make quick and easy use of them to improve productivity and efficiency.