Advantages and Disadvantages of m Commerce
Mobile commerce or m-commerce is a form of e commerce that lets you access online shopping platforms without using your laptop or computer. The mobile phone is the closest to everyone these days. Shopping and placing your orders through smartphones is really easy, with hundreds of apps turning becoming mobile-friendly. Before you distinguish the Advantages and Disadvantages of m Commerce, it’s important to understand it.
What is M-Commerce?
Kevin Duffey coined the term mobile commerce in 1998; now, everybody is a part of m-commerce directly or indirectly. M-commerce covers online platforms for buyers to make online transactions with electronic gadgets like mobile and tablets.
Some examples of m-commerce include in-app purchases, mobile banking, Apps like the Amazon mobile, a digital wallet such as Apple Pay, Android Pay, Samsung Pay, etc.
With the advancing technology, the market of e-commerce has expanded to a great extent and is still increasing. Mobile commerce accounts for about 53.9% of the total e-commerce purchases and is expected to reach 72.9 % within a year.
In 2021 the mobile commerce market has reached a huge mark of $3.56 trillion, which already shows the number of goods and services purchased online. However, the market is at its boom irrespective of its limitations. It’s time now to discuss some of the pros and cons of m commerce in a little detail.
What are the Advantages of m-commerce?
Since the mobile commerce market has expanded in a recent while, many smartphone users enjoy the benefits of m-commerce in different forms. In-app purchases while playing online games or watching a movie is also covered under m commerce. Here are some points that often count as advantages of m commerce.
1. Easy availability of Goods or Services
While purchasing and searching for goods at a competitive price can be a hectic job in the market, it is a piece of cake when you browse it on your smartphone. Multiple products of every brand are available on commerce websites and mobile apps.
When you are running out of time or a product is not available locally, purchasing it online sounds much easier. Ease of access to services is one of the key advantages of m-commerce.
2. Quick delivery and instant transactions-major advantages of m commerce
When it comes to receiving the product, the job is made quite easy by mobile commerce. Every m commerce service provider uses the help of specific courier companies that include the delivery charges in the product price or shows them separately. As a customer, you need not go anywhere but to mention the delivery address for the ordered product.
3. On the go use is one of many benefits of mobile commerce
When you are travelling, specific things of use may not be available in the place of your new destination. But there is nothing to worry about; pick your phone and time your product delivery for your next resting place. Everything will reach you without putting any extra effort, from your favourite T-shirt to earphones. Given such advantages of m commerce, you can save a lot of time.
4. Personalised Ads
Search for a product in your mobile browser, and the next thing you see will be ads based on your previous search. When you make an online search, browsers and apps use information based on your search behavior which is saved in cookies.
So when you see ads it is quite possible to see ads for the products you might be looking for. It is an automated process and makes user see products and services of their choice instead of annoying ads. Seeing what you need on your mobile adds more advantages of m commerce to the list.
5. Bulk Purchase
You can purchase a microchip of the least sizes, or a heavy set of Gym equipment. It is no different if you buy heavy or big products or even order bulk quantities.
The only different thing you may do is increase the number of items for your preferred product at your discretion. And you don't need to go through the hassle of transportation which is all taken care of by the m-commerce apps.
What are the Disadvantages of M commerce?
Among the good comes the bad; even m-commerce hasn’t remained untouched by unscrupulous and fraudulent activities. Some other limitations also add to the disadvantages of m commerce.
1. Competitive Market
If you are a business entity, selling products in the highly competitive market is difficult. In addition, since many people sell the same product, the marketing cost also adds to your overall cost to make your product or applications on customers' top priority.
As a customer, seeing too many products can also be confusing and might make you go through thousands of products before choosing the right one.
2. No Access to Mobile Phone
Not having a mobile to use mobile is also among m-commerce disadvantages as you won't be able to entertain the services. Although it is quite easy for anyone to make an online purchase or transaction, it still requires you to have a mobile and internet connection to do so.
So if you are from a remote place where you don't have an internet connection, this can be a thing out of your reach, and you will have to rely on the things and services available locally.
3. Piracy is one of the feared disadvantages of m commerce
With the high competition in the market, fake or pirated products and websites also flood the internet. So checking the authenticity of the website is important. Also, since you are able to inspect the product with your own hands, finding minute faults in the products when delivered can be a possibility.
Most of the complaints registered by the customers are about the different product quality and appearance as the product pictures are nice and shiny whereas the actual product can be different from your expectation.
4. Lapse in Delivery
Although most companies provide timely delivery of the product, it is still possible to get the product late than your expected time. Even if you have made plans and purchase gifts or dresses in advance for an event, the untimely delivery of products can ruin your party plans.
The minimum time for a product to be delivered is one day so be sure to make the purchases keeping in mind the delivery delays. Such disadvantages of m commerce can make you change your whole perception.
5. Not everyone like to purchase through wallets or apps
Although it is quite easy for everyone to use online shopping applications but still, for some people, the features can be a little complicated. So if you are not tech-savvy, using mobile applications can be a hard nut to crack.
In addition, the lack of proper knowledge about online transactions can land you in financial trouble. Finally, leaving your credentials online is risky, especially when you don't know about online privacy and data protection.
Conclusion on pros and cons of m-commerce
As it is clear from the given pros and cons of m-commerce that its future is very bright. But with increasing competition, it is difficult for new entrepreneurs to make a mark in this profitable business. On the other hand, new customers are experiencing the joy of online shopping. The new generation is aware of the technology and finds it easy to purchase with minimum effort.