The IoT is coming to the m-commerce experience and could offer a great deal to consumers.
Internet of Things commerce is a concept that has been dancing around ahead of us for some time now. Science fiction movies have predicted it. Tech specialists have insisted that we’re on the edge of it. Now, it may finally be on its way.
Even if it isn’t here quite yet, it does offer a considerable opportunity for consumers to enjoy.
A recently released report indicates that connected devices used for Internet of Things commerce transactions could reduce significant friction. The appeal of this experience could be considerable for consumers. Moreover, this may help to increase the purchase volumes.
The 2016 Online Retail Payments Forecast published by Javelin predicted that the IoT will be an important driver of e-commerce evolution. Last year, nearly one third of online retail was mobile, said the report. Equally, mobile commerce is expected to experience a 49 percent growth over the next four years.
Javelin’s report showed that mobile’s explosive growth is bringing us far nearer to Internet of Things commerce.
It concluded that the rise in m-commerce has mainly arrived through merchants and retailers. They have built up their services to offer mobile features. Consumers experience meaningful improvements in the ease of their transactions in this way.
For instance, one-click checkouts have become commonplace. They automatically populate shipping and billing information into the necessary checkout form fields. Automatic form completion dramatically improves the convenience of mobile shopping. Entering that data using a touchscreen keyboard is clunky and frustrating. Skipping that step overcomes one of the largest barriers to mobile commerce use.
By making the checkout process highly fluid, consumers are far more willing to purchase over mobile phones. Moreover, the Internet of Things has the potential to expand the efficiency of purchasing to an even greater degree. This could begin to become possible with connected commercial devices. One top example of that type of gadget includes the Dash button from Amazon.
The Amazon Dash button could be a first bridge into Internet of Things commerce. It works by allowing consumers to using the gadget to press a single button and order household supplies, said the report.