Business Led by Technology: How Mobile Commerce is Dominating Total eCommerce Activity in 2014

This is a guest contribution from online journalist and entrepreneur Megan Ritter.

Every year, tech companies continue to roll out dazzling new smartphones and tablets into the market. Depending on personal preference, people have the option to choose from an iOS, Android, or Windows device, and you don’t necessarily have to break the bank anymore to have the latest and greatest in technology. Simply put, today’s tech makes even the most grueling daily tasks, like banking, as easy as tapping a screen a few times. 

And while we continue to jump back-and-forth between the sizes of our devices (big to small, to big again), both smartphones and tablets are evolving to meet at a 7-inch “SmartTab” form factor, allowing the two different functioning capabilities of a smartphone and tablet to become one. In addition, there will be wearable smart devices, so there will be multiple ways that a person can participate in mobile commerce.

Mobile Tech: Pros and Cons

The number of features built into a tiny device like a smartphone are nearly endless, and with those features come plenty of opportunities, particularly for those in the mobile commerce industry. The bulky PC desktop and even the laptop have largely been shrunk to a fraction of their size, and now a mobile phone can perform nearly all the functions of a PC or a laptop. Mobile commerce allows the consumer to purchase from a business at their own convenience. Retailers have adjusted their services to cater to the mobile customer, including redesigning their websites to cater to mobile visitors along with company-specific apps.

Consumers who participate in the on-the-go, mobile shopping experience expect the entire process to be quick, so it is essential that businesses also make their websites easily accessible and compatible with mobile shoppers as well. Near field communication (NFC) can also assist in mobile commerce. This allows a mobile device to broadcast information over short distances and uses this technology by taking your digital financial information to make payments online. 

However, there are a few roadblocks to be overcome regarding this technology—many devices still do not have NFC, and those that do are a bit more expensive than a regular smartphone. These barriers to entry are causing both consumers and businesses to find cheaper alternatives in the meantime while NFC is being phased into smartphones.

Mobile Revolutionizes Marketing and More

Mobile devices have also caused a marketing revolution. No longer can marketing be done by traditional methods alone—many businesses should have a strategy where they can market their products and services via mobile device. Businesses have started using QR codes so that people can use their mobile devices to find out more about a certain business and its products and services. Mobile devices also play a large part in loyalty programs—you can get discounts or free products for checking in on Facebook, for example.

In addition to business, pleasure and entertainment have become largely active on mobile devices—many games today offer the option of in-app purchases, and people can easily watch their favorite shows, movies, and YouTube videos in the palm of their hand. If technology can tell us anything about what consumers want, it’s convenience. That means that you need to make your brand’s services available when your customer wants them, and by making your business mobile-friendly, you’re giving them a reason to keep coming back. 

Director, Anybody?

People love using their smartphones to consume content; now they can use it to create content as well. Whether it’s a seven-second Vine or a YouTube video a few minutes in length, creating content via mobile devices will increasingly become the norm as their specifications come to match those of several devices: desktop PCs, cameras, and even sound recording equipment. You don’t necessarily need a studio or a movie set to become a content creator—just whip out your smartphone and let your creativity (and your device) get things rolling.

The Next Step

As the saying goes, necessity is the mother of invention. As the demand for mobile commerce increases, businesses must adapt to their consumers’ wants and needs, which will lead to new innovations in the field. Unlike some previous inventions, however, all of us can participate, and we should all be trying our best to move mobile commerce forward for the economic benefits and the sake of innovation.