E-Commerce to M-Commerce: The Paradigm Shift
Essay Preview: E-Commerce to M-Commerce: The Paradigm Shift
Report this essay
It seems like only yesterday that ecommerce revolutionized the traditional commerce. The desktop computer promised to liberate us from the need to visit a retail outlet. We have evolved to the next stage of commerce and purchase. Now, transacting from the desktop computer seems more like a restriction than liberation. It is the era of “commerce everywhere.” Handheld devices that can access the Internet are revolutionizing the “traditional” e-commerce. We refer commerce on mobile devices “mobile commerce,” or “m-commerce”. An ecommerce business foraying into m-commerce faces some challenges. Your response to these challenges will determine your fate in the m-commerce paradigm.
Evolving Retail Eco-System
The retail ecosystem is changing. The linear path to purchase has been replaced by a model where consumers can tap into online reviews, view product pages, compare prices and check a friend’s social media feed at any point in the purchasing cycle. Consumers are now curating their own brand experience. In this new customer-centric model personalization and speed are key. The new retail landscape is impacting the capabilities, organizational and structural considerations that businesses need to succeed. There are 6 key dimension at I believe a company should watch carefully in order to thrive in the new e-commerce world.
Marketing and Insights- A demographic tide is bound to lift e-commerce. The millennials or those born between 1982 and 2001 are moving into prime spending years. Already comfortable with the internet and online transactions, this demographic group has the potential to not only boost online sales in the near future, but as their incomes rise with age, they are likely to continue pushing the level of e-commerce higher.