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An Evolution Of The Mobile Commerce in India

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An Evolution Of The Mobile Commerce in India

An Evolution Of The Mobile Commerce in India

Introduction

Mobile Commerce, or M-commerce, represents a transformative shift in how business transactions are conducted over the internet using mobile phones. Coined by Kevin Duffey in 1977 during the launch of the Global Mobile Commerce Forum, M-commerce encompasses a range of activities including buying and selling goods, availing services, transferring rights, and handling financial transactions via mobile devices. With the ubiquitous presence of smartphones, M-commerce is poised to surpass traditional E-commerce as the preferred method for digital transactions.

Scope of M-Commerce in India

India, now the second-largest market for smartphones globally, has seen a remarkable rise in mobile commerce adoption. Nearly 83% of the population owns a smartphone, with a significant portion using these devices for online shopping. Specifically, individuals aged 25-34 are the primary users of smartphones and tablets for making purchases. According to the “State of M-Commerce 2016” survey, the number of online shoppers in India, currently estimated between 80-100 million, is projected to grow to 175-220 million by 2020. This expansion highlights the vast potential for M-commerce in the Indian market, an area still ripe for exploration.

Services Offered by R India R Software Private Limited

To support the growing M-commerce landscape, R India R Software Private Limited provides a comprehensive range of services, including:

M-Commerce Solutions: End-to-end solutions tailored to meet various business needs.
Application Development: Custom mobile app development to enhance user engagement.
Mobile Websites: Development of responsive websites using HTML5 to ensure optimal performance on mobile devices.
SEO Services: Premium SEO services to improve visibility and search engine rankings.
Social Media Marketing: Expert services in social media optimization and online network marketing.

Government Initiatives Promoting M-Commerce

The Indian Government has introduced several initiatives to foster M-commerce:

Digital India Initiative: Aimed at enhancing digital infrastructure and encouraging digital transactions.
Startup India: Supporting innovation and entrepreneurship in the digital space.
Skill India: Providing training to boost digital literacy and skills.
Implementation of GST: Simplifying tax regulations to facilitate smoother digital transactions.
Mobile Wallets and Unified Payment Interface (UPI): Enabling secure and convenient digital payments.
BHIM App: An initiative based on UPI, promoting direct e-payments through banks.

Prime Minister Narendra Modi has been a strong advocate for digital transactions, encouraging the use of E-banking and mobile banking to foster a cashless economy.

Why Users Prefer M-Commerce Over E-Commerce

According to a survey conducted by Targeting Mantra, the top reasons consumers favor M-commerce include:

Time Efficiency: 73% of users appreciate the time-saving aspect of M-commerce.
On-the-Fly Connectivity: 69% value the ability to stay connected and shop on the go.
No Waiting Time: 55% prefer the immediacy of transactions without delays.
Ease of Locating Deals: 69% find it easier to discover deals and offers through mobile apps.
Multitasking: 63% benefit from the ability to perform multiple tasks simultaneously.

Conclusion

M-commerce is set to revolutionize the Indian market, bringing significant changes for both consumers and retailers. The growth of smartphone usage, supported by government initiatives and technological advancements, underscores the potential for M-commerce to dominate the digital transaction landscape. As businesses adapt to this shift, leveraging mobile apps and digital platforms will be crucial for staying competitive and meeting the evolving needs of the Indian consumer.

For businesses aiming to capitalize on this trend, investing in mobile app development, responsive websites, and effective digital marketing strategies will be key to success in the burgeoning M-commerce arena.

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