Ecommerce Vs MCommerce

Adapting more and more market trends has become the new norm to succeed and today's in vogue market trend is none other than eCommerce and m-Commerce. There was a time when creating a physical shop was a sure-shot need to take into account however, today that’s certainly not the case! In fact, in today's times, a large section of people prefer to shop online. Now you know what eCommerce is, right? The process of buying and selling goods online via the internet. However, what you might not know is the term M-commerce.

Fret not, the following post focuses on what eCommerce and M-Commerce are, how they are different from each other and most importantly how they are beneficial in today's times. So let’s get started!

Introducing eCommerce and M-Commerce!

eCommerce and mCommerce might be used interchangeably but to be precise these terms are way different from each other. However, there is one thing common between the two, both of them ensure to make the lives of their end users much easier, simpler and better. Now as mentioned above eCommerce is more like an umbrella term used for buying and selling a wide range of products whereas Mcommerce is more like a subcategory or a subset of eCommerce since it’s about buying products online using their respective mobile devices.

eCommerce stands for electronic commerce where products are bought and sold by transmitting of funds or data, via using the internet. Anyone can start an eCommerce business whether it’s business-to-business (B2B), business-to-consumer (B2C), consumer-to-consumer or consumer-to-business, customer selling to government agencies, etc, eCommerce business is the go-to option for everyone.

Now have you ever wondered, how all this works over the internet? Well, as soon as the order is placed. Customer’s web browser starts communicating back and forth with the server hosting the site in particular. Several payment methods are roped in such as PayPal, Google Pay for seamless and quick transactions. As soon as the payment is done, the customer gets notified of their order being placed successfully. One of the best examples for eCommerce is Amazon. Are you willing to create such a branded-store experience for your end users? If so, you have three ways to choose from.

1.mCommerce - With the rise of smartphones and their usages, mCommerce seems to be growing in regards to popularity as well. Now the term is mainly used when a person buys or sells goods be it apparels, accessories for groceries using their smartphone devices. And there will be a time when mCommerce will have a rosy future in a few years down the line. mCommerce can be considered as a subset of eCommerce and to be precise, it is not showing any potential signs of slowing down.

2. Enterprise Commerce - The next type of eCommerce is enterprise eCommerce. As the name implies, enterprise eCommerce is the buying and selling of products online but in regards to large companies and organizations. Now imagine that you are running a business that sells a wide range of products or features a wide range of multiple brand lines via using the internet, this is what we call enterprise eCommerce.

3. Social Media Commerce - The last but certainly not the least is social media commerce. This is a method where you can buy and sell products using social media platforms such as Facebook, Instagram and so forth! Much like social networking sites where you can connect with your friends and family seamlessly, here you can easily attract more and more customers to your business, create brand awareness and generate online sales.

Enough being said about ecommerce, now it’s time to consider MCommerce! mCommerce mainly stands for mobile commerce as the name implies, this term involves severe usage of wireless devices such as mobile or tablets to buy or sell any product again via using the internet. Some of the best examples for mobile commerce services include Apple and Google.

Now if we talk in layman terms, you must have made banking transactions or ordered food deliveries or bought plane tickets or purchased several accessories and apparels using your mobile devices? This is what mCommerce exactly means. eCommerce most of the time is associated with user conducting purchase and sale transactions via the internet and mCommerce is specifically for those transactions which are conducted using mobile devices. Irrespective of the geographical locations, users can transact anywhere it’s just they require a strong internet connection.

To be precise, mCommerce is a rosy future of eCommerce. Today almost any and every customer prefers to shop using their mobile devices, so it is a safe bet to say that everything from retail to food industry to aviation industry to healthcare is at your fingertips. Now let us explore the common yet crucial types of mCommerce

1. Mobile Shopping - In today's times smartphone devices tend to play a significant role in the success of mobile shopping. Now have you ever wondered what the end users think of this aspect? Well, they prefer buying products from their favorite channels and nowhere else. For example, if a customer scans a QR code from the physical store then they must be able to shop products from their online store.

2. Mobile Banking - Another popular term used in the mCommerce realm is mobile banking. Call it mobile banking or net banking, this concept has gained immense popularity especially over the course of a few years. In fact, several add ons such as SMS apps, chatbots are taken into consideration just to spread the word for mobile banking. Also, customers can keep track of their transactions, account details, and fund transfers in a seamless manner.

3. Mobile Payments - There was a time when only cash payments were taken into account. However, that’s certainly not the case! Today of course, there is a scope for cash, credit cards, cheque but at the same time payments can be made using mobile apps. Especially after the COVID major hit, people have started preferring mobile money transfers, and several other contact less payment methods.

Now it’s time to explore the benefits offered by the two major nerve- wracking concepts.

Benefits of using eCommerce

#1 Rapid Growth

One of the most obvious benefits or advantages of delving into the eCommerce industry is its rapid growth. Since its inception, the eCommerce industry has grown at a fanatic pace and to be precise, it is not going to slow down anytime soon. So It's high time to jump on the bandwagon and make the most out of the profit-spinning realm. In fact, it has been observed that after the COVID pandemic, a recent rise has been observed in online spending across the globe. So here you can conduct an ecommerce business that offers profit in a pretty short span of time, pandemic-proof, so what else do you want?

#2 24/7 services

Another crucial advantage offered by these eCommerce stores is that here you can receive 24/7 services. You see, since everything is available on the internet. Here you do not require a physical store that opens and closes according to the standard working hours. From the business point of view as well as customers point of view, this store can be accessed whenever and from wherever they feel like, whether it’s their bedroom or office premises, etc. Not to mention, here buying and selling can take place seamlessly at any point of time which means hassle-free payment methods, customers no longer have to dress themselves and spend hours and hours shopping. All this can be done while doing other chores as well. Not to mention, these 24/7 services can drive more and more businesses.

#3 Access

Another major advantage of considering eCommerce is that you get rapid access. You see, sometimes when you go shopping especially during sales or festive seasons, you might end up facing an unwanted crowd. Fortunately, that’s certainly not the case with eCommerce stores. No matter how crazy the sale is or how amazing the deals are, everyone gets a fair chance to shop and they can shop whenever and from wherever they require. You see you get your desired product in a pretty less time with seamless checkout procedures. To conduct a successful eCommerce transaction, all it takes is just a few clicks, maybe less than five minutes and you are done with your new product.

#4 Cost-effective

Another crucial benefit worth considering is cost-effectiveness. Developing and maintaining a website is pretty difficult especially when you also have a brick-and-mortar store to take care of. Fortunately, eCommerce business channels can succeed and that too without leasing any type of retail space. Yes, here there is no need as well as no point of hiring a team of employees or creating a large warehouse.

Benefits of using mCommerce

#1 Amazing user experience

UX has been and will be one of the most crucial components especially for the end users who tend to purchase products via using smartphones and tablets. Now imagine you went to have dinner with your loved one at a renowned restaurant where you find ample things on the menu, however there is nobody to your assistance. What will you do? you will walk away towards your not so famous but favorite restaurant that offers lip-smacking food as well as personalized menus. Similarly, the mCommerce realm is no different! Customers prefer using mCommerce apps that offer amazing customized and personalized services. Also, this ensures as well strengthens the bond between customer as well as your brand.

#2 Seamless checkout procedure

Another significant advantage of mCommerce services is seamless checkout procedure. Earlier what happened was when a customer bought something from a traditional website, it took a bit longer for things to complete the transaction but if we see the situation now, things have changed to a great extent. We haven’t just got rid of lengthy checkout procedures but also they have become pretty seamless and hassle-free. And this is one such aspect that will surely attract more and more customers and can retain the old ones in a pretty short span of time.

#3 Enhanced Communication

With the rise in smartphone devices, communication has become pretty smooth and seamless. Not only customers but mobile users can benefit from this enhanced communication aspect. Both the parties can engage well and send and receive relevant notifications regarding relevant products and services. Instant feedback can be received by businesses and enhance their services as well as experiences of their valued customers.

On that note, it may quite interest you to know that several renowned companies such as Alibaba, Rakuten, and eBay are trending towards AI-powered chatbots for their mobile apps just to ensure shoppers a seamless and fun experience.

#4 Marketing Channel

Mobile Commerce or mCommerce can be your add-on marketing channel that offers a crucial opportunity to promote business by offering seamless promotions, mobile-only discounts, special vouchers, free shipping, products at special prices and so more! Several activities such as tracking your order, checking out the warehouses, looking for relevant retail coupons, checking store inventories, etc all these activities can be done via using smartphone devices.

On and all, mobile apps are faster, convenient, alluring rewards, entertaining, personalized, better deals, so what’s there not to like?