MOBILITY 2017 – M-COMMERCE IS THERE TO RULE

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Mobility 2017 – Location Based Services

 Travelers are always on the move and the one apparatus that keeps them connected to the world is their mobile phone, and with addition of browsing capability, mobile phones are no longer restricted to voice and text communication – it has become a hub of information, research, inquiry, commerce and other location-based services, with just a couple of touches.

Starting from hotel reservations to Car booking, purchasing event tickets to booking a restaurant table – everything is bundled inside the various apps on your mobile phone.  Some of the top hotel chains who were the earliest proponents of M-commerce have reported a 70% – 90% surge in their traffic.

 

The cornerstone of LBS-based marketing is the utilization of ‘Location & Need’ of a traveler. Advertising is tailored to the Geo-location of the mobile user, thus creating an opportunity for the most targeted form of direct marketing in the marketplace. Examples might include – discount coupons of a nearby Pizza hut or Burger king, discounted room rates in Holiday inn, coupons for the Water Park on the next exit or even an invitation for a wine tour – The options are endless.

 

What’s in store for the future?

 Mobile boarding passes – Mobile bar-code hotel room activation – Mobile payments for on-site charges – Real time weather update on arrival – Mobile valet service – Mobile airport pick-ups…AND MANY MORE

 Increased mobility is a reflection of vibrant economy and greater urbanization. A scorching pace of urbanization in the rising Asian economies like China, India and Indonesia has transformed the communication landscape of these regions. Rapidly increasing disposable incomes have generated legions of mobile internet subscribers – almost quadrupled in just a few years. Increasing stability and higher safety protocols in the wireless arena has given rise to greater opportunity for conducting commerce over the mobile phones.

 

Going back a few years, the first credit transaction was accomplished over the web – The euphoria over this virtual transaction are still fresh, with business owners finding it difficult to comprehend the new rules of economic engagement. This opened the doors for the home-based business tycoons – firmly establishing that online economy was a democratic marketplace.

 

Customer preferences took center-stage and online business powerhouses like eBay, Flipkart, Snapdeal. Amazon and Alibaba have redefined the power and influence of consumers – unlike in the traditional economy.

 

Is M-commerce the new way to go?

Multiple research and surveys have been conducted in the last couple of years to fathom the real promise of a mobile based economy – and the message has been unambiguous.

According to ABI research….Mobile phones will facilitate the purchase of goods and services worth more than $120 billion by 2015.

 According to Juniper Research….

Mobile-enabled payments had touched a figure of $630 billion by 2014 – which translates to 5% of the total e-commerce sales. The current year has till now seen mobile transactions worth $170 billion.

 In terms of M-commerce, the regions which have experienced quantum growth are the Asian economic powerhouses – China, India, Japan, Indonesia, Taiwan, Malaysia, Hong Kong and South Korea. The most interesting aspect of this mobile equation is that these regions are also the epicenters of boom in the travel industry.