We are passing through a time when everything is going digital. Our expectation has reached a new level.
Few years back our interaction in the digital world was only internet-based. Now starting with internet-based e-commerce it has turned to mobile technology. A person with Ericsson mobile phone in 90's could hardly believe that he could buy products on mobile in ten years' time! Mobile technology evolves from normal calling function to PDA then to Smartphone with the operating systems like Symbian of Nokia, Google's Android, Apple's iOS or BlackBerry OS.
Now welcome to the mobile apps world! Modern e-commerce business has already turned to the m-commerce platform. According to the comScore report, the number of mobile users surpassed desktop users in 2014. Gartner's prediction narrates that over 268 billion mobile downloads will generate an income of $77 billion in 2017. The estimated global mobile app revenue was $35 billion in 2014, $45 billion in 2015, $58 billion in 2016, and a predicted $77 billion in 2017, as stated above. The statistics indicate that people who fall in the age group of 18 to 24 years of age use more mobile apps than any other group. They are followed closely by people of the age groups 25 to 34 years, 35 to 44 years, 45 to 54 years, and then over 55 years. The implication is that businesses that use mobile applications will target the middle generation more than the younger and older generations.
M-commerce has significantly increased in Bangladesh as well. Most of the banks are operating mobile banking services for online financial transactions. Mobile network operators have been given permission by the government to sell railway and bus tickets using mobile technology. App-based transport or shared riding services like Uber, Pathao and many more to join are creating a new market. Many private organizations such as retail supershops like Agora, Meena Bazaar, Swapno, electronics & gadget stores have launched mobile apps for online shopping. Bangladesh customers are now getting used to the mobile transactions. The international payment gateway PayPal Xoom has been introduced recently in the country which adds a new dimension to e-commerce along with Amazon, E-bay, Alibaba to launch soon.
So the future opportunity of m-commerce in Bangladesh is limitless. The government is also very keen to look into expansion of the area. Many policy-level jobs are already done with the help and support of the private sector. Bangladesh Bank, Bangladesh Telecommunication Regulatory Commission (BTRC), Ministry of Telecommunication, Ministry of Information, Ministry of ICT and other government authorities are playing an important role in boosting confidence of the customers. Many entrepreneurs are working with the mobile technology. As the market grows it will also create many opportunities. As mobile commerce shapes the way customers interact with brands, changes are happening quickly. Retailers can make small changes to their mobile sites now to drive more sales in 2017 and beyond. Businesses that adopt the changes early will gain an edge over others in the competition and delight their customers. A great future is ahead in m-commerce in Bangladesh.
The writer is Senior Executive, Corporate and Digital
Marketing, Rahimafrooz.
© 2024 - All Rights with The Financial Express
