The Indian kaleidoscope: emerging trends in M-Commerce
S. Muthukumar,N. Muthu +1 more
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TLDR
The second largest cellular market in the world after China, with a massive subscriber base of 867.80 million, as of March 2013, is the second largest mobile market after China.Abstract:
India is the second largest cellular market in the world after China, with a massive subscriber base of 867.80 million, as of March 2013. Majority of smartphone users are still on 2G network. Budget 4G smartphones coupled with affordable plans, can very well drive 4G growth in India. The most obvious mobile commerce trend is further development. Yearly m-commerce sales are forecasted to increase fourfold billion in the next few years. Businesses are beginning to realize that m-commerce is key to enhance their brand, boost sales, and keep up with competitors.India's retail market is expected to cross 1.3 trillion USD by 2020 from the current market size of 500 billion USD. Modern retail with a penetration of only 5% is expected to grow about six times from the current 27 billion USD to 220 billion USD, across all categories and segments.India is set to witness proliferation of the fourth-generation wireless data services, or 4G services shortly with slashed data plans. Being the second largest mobile market in the world, India needs to take its place in the forefront of providing innovative services and applications to its citizens. Recent eMarketer study, by the year 2017 more than 25% of all online retail transactions will happen in the mobile paradigm. Adweek explains that statistic with information that 18-34 year olds are very likely to use their mobile devices as a shopping tool. Their process is to visit their favorite retail stores not to shop but to view a product and compare prices, and then to compare prices at various online locations using their phones. They then buy the product using their mobile device. The future looks very bright for mobile commerce, although businesses are still experimenting with how to use the mobile commerce concept to their best advantage.read more
Citations
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