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M-com sales may hit $638 bn by 2018

 

Global e-Commerce sales made via mobile devices are expected to cross $638 billion by 2018, according to the joint study brought out by ASSOCHAM and Deloitte.

 

Currently, the availability of e-Commerce applications on various mobility devices is helping to drive sales and revenue. E-tailers like Flipkart, Amazone and Jabong now get 50% of their revenues from consumers shopping on their mobile phones. Predictive analytics is helping the e-tailers to provide better solutions in real-time enabling compelling user experience even on mobile screens, said Mr. D S Rawat, Secretary General ASSOCHAM.

 

However, while shoppers want real-time, relevant, and personalized information and offers, retailers will need to surround this service with very strong privacy and security. Trust, transparency, and protecting customer information will be critical in retaining loyalty as mobile retailing becomes the norm, noted the joint study. 

 

Online commerce companies should enable all features from search-to-purchase on mobile apps, such as facilitating product research, price comparison, view ratings and reviews, and payment. 

 

The launch of wearables, such as Google Glass and Apple Watch, opens new opportunities for reaching out to customers. E-tailers would keep an eye on developments in this arena, although it might only be an urban phenomenon at the moment.

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