According to the market research company (Statista), mobile commerce sales in the United States are estimated at $431 billion in 2022, and its popularity is no less popular in our Arab world, where content delivery via wireless devices has become faster, safer, and expandable over time. .
In this article, we will learn about the concept of mobile commerce or mobile commerce, its most important benefits, disadvantages, types... and everything you want to know about it.
What is mobile commerce?
E-commerce (mobile commerce) is the buying and selling of goods and services through mobile devices such as smartphones and tablets. It helps you conduct online business transactions, including buying and selling online banking products and services and paying bills, without using a computer.
Examples of mobile commerce
Examples of mobile commerce usage include industries such as:
Financial Services: Banking and brokerage transactions are done via mobile devices.
Communications: Mobile devices are used to make service changes, pay bills, and perform account audits.
Service and Retail: Consumers place orders and pay for them directly through online stores.
Information services: Financial, sports, traffic, weather and many other news updates are accessed through mobile devices.
Types of mobile commerce
Mobile commerce is categorized according to the following three basic functions:
Mobile shopping enables customers to purchase a product using a mobile device with an application such as Amazon or a web application. A subcategory of mobile shopping is app commerce; It is a transaction that takes place through a local application.
Mobile banking: An online banking service designed for mobile technology. It enables customers to access accounts and brokerage services, perform financial transactions, pay bills, and conduct stock trading operations.
This is usually done through a secure and dedicated application provided by the banking institution. Mobile Banking Services may use SMS or chatbots and other chat application platforms to send alerts and track account activities. For example, the WhatsApp chatbot allows customers to view their account balance, transfer funds, review loans, and perform other transactions in real time through WhatsApp.
Mobile payments are an alternative to traditional payment methods such as cash, checks, credit and debit cards. It enables users to purchase products in person using a mobile device. Digital wallets, such as Apple Pay, allow customers to purchase products without having to swipe a card or pay cash. With mobile payments, users send money directly to the recipient's cell phone number or bank account.
Performance indicators in mobile commerce
Important KPIs to monitor in mobile commerce applications include:
Total mobile traffic.
Total application traffic.
Average order value.
Orders value over time.