Tag: m-commerce

The first quarter in the country was worth $4.29 billion and is clearly dominated by one business.

In 2012, the m-commerce market in China was worth $7.8 billion, but this year, it is expected that it will be worth considerably more, as the first quarter alone brought in $4.29 billion.

It is expected that by the year 2015, the market will rise to reach $41.4 billion, which represents an astounding growth.

What is even more notable is that the m-commerce market appears to be primarily led by a single company, according to the latest data from iResearch. Its latest study of the numbers from that country has shown that Taobao is the clear market leader in China and that its dominance is considerable.

Taobao is the m-commerce market leader for China and is the company behind the highly successful Alibaba.

Alibaba, a consumer to consumer online shopping mall, has been popular in China for over ten years. Now, its Taobao is taking off in the m-commerce environment. Its lead is estimated to be massive, as it takes in about 75.1 percent as its market share when measured by the value of the mobile purchases made by consumers in China. Its parent company is Tmall, a B2C marketplace.

In second place for m-commerce in China, well behind Taobao, is Jingdong. That company was formerly known as 360Buy and is also the second largest B2C online retailer. The share of the market for this company was recorded by iResearch to be lower than its online market share. The report suggested, therefore, that it is important for companies in China – particularly those with an online mall atmosphere – to add considerable focus to their mobile strategies.

It is notable that even some of the major players in online shopping are not achieving the same types of successes in the m-commerce market space, when it comes to their shares. That said, the report also indicated that there is still a shift toward the mobile space, albeit a slow one. Equally, it is expected that 2013 will bring in the largest figures on record for mobile shopping in China, potentially exceeding the previous predictions by the firm, that it would be worth $15.7 billion this year.

BitCoins could have a bright future in mobile commerce

Virtual currency is gaining more popularity as consumers become more reliant on technology. BitCoins are considered the most popular of the virtual currencies that are currently available. These digital coins are exceedingly valuable, with a single coin being worth more than $240 at the height of its value. Virtual currencies are quite useful in the realm of mobile commerce, but they represent a certain risk in terms of a country’s economy because they are not strictly regulated like other currencies.

US agencies consider virtual currency threatening

The U.S. Department of Homeland Security considers BitCoins to be a serious threat. This currency is often used to purchase regular products from outlets like Amazon and eBay. BitCoins can, however, be used to purchase goods off the black market and are one of the ideal currencies in the drug trade. The federal agency recently seized the assets of Mt. Gox, the world’s largest BitCoin exchange, but this has done little to draw attention from the mobile commerce prospects of this currency.

BitPay aims to make BitCoins more mobile

BitPay, a relatively new startup focused on virtual currencies, has recently launched a new mobile commerce service. The company has announced that it has raised more than $2 million in funding for this initiative and aims to have it available to consumers in the near future. The new service will allow consumers to use BitCoins in a mobile commerce setting, offering consumers a way to use this currency on their mobile devices. BitPay believes that it is only a matter of time before BitCoins become as popular as email.

Mobile commerce may benefit from virtual currencies

BitPay has been in business since 2011, but the company has been relatively secretive since its founding. BitPay offers legal services that are often frowned upon given the association that BitCoins have with illegal activities and products. BitCoins themselves are not actually illegal in any way and have been gaining a significant amount of attention in the mobile commerce field as a way to encourage consumers to purchase products through their mobile devices.