Recent Advances in Shopping Through Mobile: An Indian Perspective

Abstract

Electronic Commerce refers to all forms of commercial transactions that involve individuals and organizations based on the electronic processing of data whereas Mobile Commerce is the buying and selling goods and services using electronically (mobile phones). Mobile Commerce is at emerging level in India. Mobile commerce is worth US$230 billion, with Asia representing almost half of the market, and has been forecast to reach US$700 billion in 2017. According to BI Intelligence in January 2013, 29% of mobile users have now made a purchase with their phones. Walmart estimated that 40% of all visits to their internet shopping site in December 2012 were from a mobile device. M-Commerce made up 11.6 per cent of total e-commerce spending in 2014, and is forecast to increase to 45 per cent by 2020, according to BI Intelligence. Com Score reported in February 2017 that mobile commerce had grown 45% in year to December 2016(Wikipedia). The potential and the growth rate of the Indian Mobile Commerce market indications at an exciting future ahead. Present, online sales in India are dominated only in the metros. As of 2015, smartphone users in India were at 220 million, growing at 23%. The number of consumers who purchase online is expected to cross 100 million by the end of 2017, with the e-retail market likely to jump 65% year on year in 2018, a recent research study reveals. By the end of 2018, Indian e-retail is expected to touch USD 17.52 billion. Mobile commerce is likely to jump to 45-50% in 2017 to the current 30-35% of e-commerce sales. Demonetization and a reduction in cash transactions, along with an improvement of net banking facilities, can be opportunities for the Indian e-commerce sector, according to stats made public by an ASSOCHAM-Resurgent India study, Indiatimes.com reports (riversand.com). This paper analyzes the recent advances of shopping through mobile in India. The need for mobility seems to be a major dynamic force for Mobile Commerce applications such as Mobile Banking, Online booking, Mobile Entertainment and Mobile Marketing etc. This paper focuses the issues being faced by the Indian Mobile Commerce. Surely mobile shopping needs some improvement in specific area like secure transaction, better shopping practice and enhanced features.