Mobile Commerce – Since the increase in the number of mobile phone users, m-Commerce has emerged as an important aspect of the financial world. E-Marketers are expecting the value of this significant niche to be $2.774 billion by the end of this year. These figures will help this industry to make up an estimate of 11.6% of the retail sales all over the world. The technology is continuously upgrading for preparing the growth of this domain in all new ways.
The upcoming of the Bitcoin along with the other cryptocurrencies has also left a great impact on the startups that were trying to implement the technology. The whole estimate depicts that the mobile commerce industry is going to be very huge in the upcoming years. Even the investors will definitely want to keep their eye on. Here are the six trends you can focus on:
Blockchain entering to the mobile commerce world
Technologies that have become the talk of the town in the year 2017 are Cryptocurrencies and the Blockchain. Both these technologies will help to the investors to make huge money by trading these digital assets. This has also led to an increased interest and a huge investment in the industry. From both, the Blockchain technology provides the customers a chance to migrate the information within seconds. In addition, it is equally secure because of the decentralized ledger that is powered by smart contracts.
Due to the ease of transferring money quickly and securely, the Blockchain will prefer over the other traditional types of monetary transfers. This will automatically help the mobile commerce industry to grow faster in 2018.
Mobile-friendly to be an important standard
Since the advent of shopping online has become popular. The e-commerce portals are only focusing on making their website accessible via laptop or desktop. But mobile-friendliness has became the new standard, which ultimately making every site to have mobile phone compatibility. Websites that are not mobile-friendly, will likely to be ignored by millennial in the future.
Online Wallets are becoming popular
The concept of digital wallet has become popular from the past few years. Digital wallets are being preferred over the physical wallets as most of the retail outlets (online and offline both) are accepting them. The upcoming of the technologies in digital wallets such as Amazon Pay, PayPal, Apple Pay and more have really made it a necessity to integrate the mobile commerce. The users of these wallets are making the most of them and going completely cashless.
AI and Chatbots to be globally adopted
With the rise in awareness of artificial intelligence technology where apps like artificial neural networks can be easily used, the investors are taking internets in it. Analysts that are observing every high and low in this industry believe that AI is going to provide a big help to the users in the checkout process.
Even the Chatbots are also gaining a huge popularity among the investors. As the technology is able to make your online shopping experiences hassle free. The technology will provide the users with a well-educated assistant to help in their shopping needs. With both these technologies become famous and powerful, one cannot deny from the fact. They will soon be an essential feature of almost every mobile commerce platform looking to sell more than dozen products.
Augmented reality will bring a boom in the mobile commerce industry
AR or augmented reality is latest technology. Which allows the users to project all kinds of products into their immediate surroundings. One of the highly famous applications of this industry has been Pokemon Go that earned approx $600 millions merely in a month after it was released. Mobile Commerce or m-Commerce delivers a highly trusted experience; more and more companies are planning to invest in this domain.
The worth of mobile commerce is continuously growing at a faster pace. So, if you are an investor or techie, paying attention on this domain will definitely benefit you.