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Palm Beach, Florida.And January 13, 2022 /PRNewswire/ – Mobile commerce, or e-commerce, is a subset of e-commerce that refers to the use of wireless mobile devices to conduct business transactions over the Internet. They include mobile banking, in-app purchases, and virtual market applications. It uses wireless devices, such as cell phones, smartphones, smartwatches, and tablets, to allow, initiate, and confirm the exchange of funds. This is facilitated by the availability of Point of Sale (POS) terminals that process transactions using NFC or the Internet. The increasing use of wireless mobile devices that provide enhanced security, convenience and ease of internet access has encouraged technology-savvy consumers to make mobile payments through digital wallets and online payment gateways. These methods enable buyers to make contactless payments, thus eliminating card swiping and manual entry, helping reduce human error and facilitating a smoother checkout experience. This trend has also been facilitated by the introduction of multiple security features in mobile and wearable devices, including biometric authentication such as fingerprints and facial recognition, which have made mobile payments more secure. Moreover, many service providers are cooperating with mobile operators to offer advanced payment solutions. Besides, governments in various countries are taking initiatives to promote digital payment methods, which has a positive impact on market growth. Moreover, the rising trend of Bring Your Own Device (BYOD) and growing broadband connectivity are among the other factors spurring the growth of the industry. Include companies active in today’s markets OOOOO Entertainment Trade Co., Ltd. (OTCQB: OOOOF) (TSX-V: OOOO), Jewel International Limited. (NASDAQ: JWEL), Alibaba Group Holding Ltd. (NYSE: Alibaba), eBay Inc. (NASDAQ: EBAY), ContextLogic Inc.. (NASDAQ: WISH).
A report from eMarketer in Morning Brew predicted that mobile commerce sales will double to $700+ billion by 2025, while another report from Mordor Intelligence said the mobile commerce market is expected to register a compound annual growth rate of 27% by 2021- 2026. Mordor continued: “The factors driving the mobile commerce market are increased adoption of smart devices, improved broadband connectivity, cheaper services, social adoption of mobile commerce services, etc. However, there are some challenges with regard to dependence on internet networks, and monetization User base, fierce competition.The increasing penetration of the Internet among many developing countries is also one of the main factors for market growth.Many developing countries have now adopted the use of online payment services wallets etc. Services, such as mobile wallets have been popularized by many From government programs, demonization as an example. This has resulted in increased revenue movement in the e-commerce market.”
OOOOO Entertainment Commerce Limited (TSX-V: OOOO) Breaking news: QVC ITALIA SRL launches ‘likeQ’, an interactive live shopping app powered by OOOOO – OOOOO Entertainment Commerce Limited (OTCQB: OOOOF) (OOOO: TSXV), a mobile commerce platform, is pleased to announce the launch of QVC Italia SRL’s (“QVC Italia”) “likeQ.” As previously announced, QVC Italia and OOOOO joined forces to launch an interactive live shopping app in Italia Powered by company-owned technology and platform for mobile commerce.
On likeQ, QVC customers can join some Italia Leading shopping experts, for lively and exciting discussions on the latest trends and hottest products in fashion, beauty, home décor and more – all while liking, accepting, sharing and buying, in real time. The live stream is designed and curated for smartphone users on the go and features a mix of premium brands and new products, along with limited time offers, viewer competitions, and other fun extras. Presenters share stories about each product and respond directly to viewers’ questions and comments. Customers can search for products and make purchases without leaving the live streaming experience and can follow their favorite shows and search past shows by category in the on-demand video library. The application can also be downloaded to tablets.
New app expands QVC’s vCommerce offerings in Italia, which also includes a streaming channel, website, a variety of social pages, and another mobile app. Streaming reaches 25 million homes and features 17 hours of live content per day, while the site attracts 33 million digital sessions annually. Worldwide, QVC reaches more than 200 million homes across 12 broadcast networks and reaches millions more across multiple streaming services, websites, mobile apps and social pages. QVC is part of the Quriyat Retail Group, the largest player in video commerce (“vCommerce”), which includes video-based shopping across linear television, e-commerce sites, digital broadcasts and social platforms.
“likeQ offers a unique online shopping experience for Italian shoppers available anytime, anywhere, with lively entertainment content and quick and easy purchase,” he said. Giorgio de GobiDirector of Digital Store and Content Strategy for QVC Italy. “This new app gives our existing customers a new and exciting way to experience QVC while inviting others who love to shop live to our shopping community.”
“The new app perfectly fits into our multi-platform vCommerce network,” added De Gobbi. “QVC has always been a pioneer and leader in the video commerce, with the experience and relationships to break new ground in the field.” continued... For more information about OOOOO leisure trade please visit https://invest.ooooo.com/overview/default.aspx
Other recent developments in the markets include:
Jewel International Limited. (NASDAQ:JWEL), one of the leading cosmetics, nutritional and health supplement, and home products e-commerce platforms in the China, recently announced that it has established a strategic partnership with the China Ants Alliance for self-owned brand products, to bring high-quality, affordable and trustworthy retail brands to millions of families.
Mr. Zhiwei ShuJowell Global CEO and Chairman commented: “The retail industry in China It is developing rapidly with the emergence of new business model, technology and applications. To differentiate a diverse range of products, make a meaningful impact and market the new ecosystem is becoming an unprecedented challenge for retailers. Xu continued, “The China Ants Alliance is dedicated to serving medium and small-sized retailers to enhance their competitiveness through collaboration between self-owned brands, joint procurement, big data, and business school programs.” To date, its network covers 95 members across 28 provinces and municipalities in China, to reach the total 90 billion yuan annual sales of its members. Going forward, Jowell Global and China Ants Alliance will leverage each other’s distribution channels to boost targeted sales and marketing. We will integrate our core platform of big data, logistics, online and offline services to provide high-quality international and local products to millions of families through self-owned, celebrity and global brands.”
Alibaba Group Holding Ltd. (NYSE: BABA) recently concluded its 13th successful businessy Annual 11.11 Global Shopping Festival (“11.11”), which was created 540.3 billion yuan (84.54 billion US dollars) in gross merchandise volume (GMV) during the 11-day campaign.
“11.11 Global Shopping Festival, we have achieved consistent growth and quality that reflects China’s dynamic consumer economy. We have also harnessed the power of 11.11 as a platform to fulfill our social responsibility. This year’s festival was a meaningful milestone as part of our commitment to building a sustainable future” Yang GuangVice President of Alibaba Group.
eBay Inc. (NASDAQ: EBAY), The leading global trading company that connects millions of buyers and sellers around the world recently announced that it has changed its definition of gross merchandise volume (GMV) to align with customer money flows on its platforms.
GMV provides a useful measure of total transaction volume on eBay platforms and correlates with net transaction revenue. The company has updated its definition of GMV to include all transactions paid on its platforms including shipping fees and taxes. Previously, eBay reported the GMV regardless of whether the seller and buyer actually completed the transaction. This change was enabled by the increased visibility derived from the company’s transition to managing payments globally.
ContextLogic Inc.. (NASDAQ:WISH), one of the world’s largest mobile e-commerce platforms, recently announced its collaboration with Nasdaq to install a co-branded vending machine shopping experience in 4 Times Square (corner of Broadway and 43rd Street, NY 10036), which opened last December.
Packed with “22 Popular Products of 2022” that can be purchased on Wish platform, the pop-up is meant to give New York Residents and visitors of the city have the opportunity to shop for their last-minute vacation. The vending machine will include tech essentials such as motion-sensing night lights, portable power banks, and LED lights that light up.
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