Mobile commerce (m-commerce) is a part of e-commerce that revolves around the use of mobile devices for conducting business. Its market is growing and expanding worldwide due to the developments of new useful technologies, phone applications, and smartphone availability (Stair & Reynolds, 2018). This type of commerce is a fascinating novelty with many business opportunities; however, there are also some serious drawbacks.
M-commerce is also popular among consumers and companies because of several game-changing advantages. With everyone’s ability to use their phone to purchase goods, businesses are able to reach new customers and expand beyond the store’s physical location easily (Stair & Reynolds, 2018). Additionally, reduced needs for staff and labor facilitate a decrease in prices, which is beneficial for customers and manufacturers (Stair & Reynolds, 2018). Compared to other channels of business communication, m-commerce provides the fastest speed of delivering information and goods without the need for a middleman (Stair & Reynolds, 2018). The ability to search and order a needed product for consumers also saves time for everyone and improves accuracy in delivering the item.
However, since it is a relatively new venture, m-commerce is not all perfect, and sometimes such a business can face serious challenges. Consumers’ privacy concerns are one of the main issues of mobile commerce (Stair & Reynolds, 2018). A breach in security may result in identity theft for the users and a lawsuit against the company. Due to this, consumers’ lack of trust is something every m-commerce corporation has to deal with (Stair & Reynolds, 2018). Additionally, language, culture, currency, regional laws, and infrastructural challenges may also obstruct an m-commerce business from prospering (Stair & Reynolds, 2018). The business needs to demonstrate accountability and accreditation, and buyers should be more careful about choosing a website for purchasing.
M-commerce is a new popular way of conducting business that is much beneficial for both the customer and the company; however, there are also critical disadvantages to this type of commerce. Operating through mobile devices is fast and cheaper, but undiligent care may result in grave circumstances, such as identity theft and lawsuits. Overcoming them might not always be easy, especially for a newly created company; however, such difficulties might not be as significant in contrast to the almost infinite possibilities of m-commerce.
Reference
Stair, R. & Reynolds, G. (2018). Principles of information systems (13th ed.). Cengage Learning.