Businesses and markets are becoming increasingly competitive with the disappearance of physical boundaries and too many players. Survival in these tough conditions is possible by staying ahead with constant innovations and adopting the latest technologies. Communication and mobile technology are two of the latest tools that businesses can use to spearhead their progress in their respective fields. In fact they hold the key to survival in a tough business world.
Mobile technology has developed so rapidly and today it is no longer confined to homes and offices. A very simple concept has created a niche for itself in the most diverse range of activities from mobile banking and financial deals to market expansion.
Mobile retailing is the solution for all those who need to expand their business and are on the lookout for new avenues for growth. It has thus created a new concept in marketing. Ecommerce offers vast potential since it is the perfect instrument to reach out to an extremely large customer base. A typical example of this is the ebay and craigslist model, both using ecommerce for advertising their products. It is one effective way of reaching out to newer markets and not requiring any large investments in constructing physical stores. These opportunities are a consequence of the Internet opening newer avenues for business expansion.
Mobile retailing means lower overheads since new brick and mortar stores do need to be opened and additional labor does not need to be recruited. This also means that the risk element of large investments gets minimized.
An ever increasing number of customers have started buying what they need online. This demographically younger market is sharp and aware and is therefore more demanding in terms of choices and informative details about products and services. These mobile retailing opportunities reach customers not just through mobile phones but also through portable computers, MP3 players, and even gaming devices. In short, any device with a web browsing capability can be used for mobile retailing.
Smart phones are a unique combination of mobile phones and internet technology and enable the user to get access to a world of relevant information anytime anywhere. They can be used for huge data transfers and information exchange takes place at very high speeds, thus saving precious time for the mobile work force.
The biggest benefit for mobile technology is for the small scale sector since small businesses can now reach out to the same customer base as their largest counterparts. They can offer their products at more competitive prices due to lower overheads and thus increase their business manifold. Using even advertising to push their demands higher is also an inexpensive proposition since they no longer need to use the media as the only way to advertise. Mainstream media has always been expensive and even unaffordable for small businesses.
Statistics reveal that approximately 4 billion mobile phones are being used by people across continents. With all the benefits of staying connected, their demand continues to grow and with supply at matching levels, prices are getting slashed drastically. Mobile transactions account for billions of dollars and are likely to soar to $120 billion by the year 2015.
Thus mobile retailing is one easy and convenient route for sale of good services for businesses big and small. With such a vast market place all types of players can enter and take a piece of the customer pie. It is one way of staying ahead in the race of tough competition through the adoption of innovative mobile technology. True leaders emerge on the basis of superior products and providing all that the customer needs.