Mobile commerce is growing at a fast rate throughout India
Mobile commerce may soon overtake e-commerce in India, according to a report from KPMG. India has become one of the most active and fastest growing mobile markets in the world. Growing smartphone penetration has made it possible for millions of consumers to participate in mobile commerce. These consumers have shown favor for the concept of shopping online and purchasing products with their mobile devices, claiming that such a process is more convenient than shopping in physical stores.
Report shows that app downloads have increased by a significant margin
The report from KPMG predicts that mobile app downloads will increase six fold, reaching 9 billion downloads by the end of this year. More people are opting to use mobile apps, especially those that allow for mobile shopping, as applications introduce more convenience and entertainment to life. The report also shows that the number of people accessing the Internet from their mobile devices grew by 33% in 2014, reaching 173 million. This number is expected to grow by 21% every year through 2019.
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Consumers are showing favor for mobile commerce
Consumers accessing the Internet from their devices have shown a strong interest in mobile commerce. Mobile shopping applications have become some of the most popular and well supported apps in India. These apps allow consumers to easily shop for products. Consumers can also purchase products using these applications without having to visit a physical store. Some applications support in-store mobile payments, which is a service that is growing in demand among consumers that have begun showing favor for mobile commerce.
App developers note that it is becoming difficult to convince consumers to use apps that are associated with a fee
While mobile commerce and apps are becoming more popular in India, there is a challenge that some companies are facing. According to the report from KPMG, 90% of the apps that are downloaded in India are free. Consumers appear unwilling to use applications that cost money. App developers are reporting that it is becoming difficult to convince consumers to adopt applications that charge a fee.