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How two different cultures adopted and used it as competitive advantage

Nj Epsi

on 22 March 2015

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Transcript of M-Commerce

Overview of the Technology
M-Commerce: How two different cultures adopted and used it as competitive advantage

Vicious circle in
Electronic commerce conducted on cellular phones

The delivery of electronic commerce capabilities directly into the consumer’s hand, anywhere, via wireless technology

“A retail outlet in your customer’s pocket”
Rise of M-Commerce
Provided 42,000 iPhones to store employees
Shopping application, user accounts


Lowe's M-commerce 2013
Reset Corporate Structure - Management Commitment
Put e-commerce and m-commerce on equal basis with retail stores.
Enable customers to shop with them anytime and anywhere

In-store Product Locator mobile app
Established Lowes Innovation Labs
Three locations: Boulder, San Francisco, Los Angeles
Long-term commitment to technology solutions
Brings together uncommon partners to create retail solutions thru technology.
SciFutures, a tech, research, & foresight agency that uses science fiction storytelling to innovate.
Trying to innovate “What’s Next” . Be 1st.

Competitive edge with Holoroom. New-Unique-Fun-Helpful 3D home improvement simulator & mobile app

Lowe’s M-commerce Barriers to implementation
- consumers worried about phone hackers or viruses, that could lead to their personal or card details being intercepted.

Screen size
- hard to see the details of products like clothing and furniture.

Future Trends
Definition and Factors involved in M-commerce
Mobile financial services is a term used for performing financial transactions, financial payments, balance checks and other banking transactions through a mobile device such as a mobile phone
Mobile Financial Service
Bank Led Model (Unique in the world. Because its Telco led model in all over the world)
Financial institutions provide the service and take the compliance responsibility.
Mobile Operators provide mobile connectivity.
Customers and agents use their own handsets.

Regulated by the central bank
“Guidelines on Mobile Financial Services (MFS) for the Banks” issued in September 2011, amended December 2011
Mandatory KYC for all customers, agents
Regular reporting and monitoring
Policy Paper on MFS Market Development issued by Bangladesh Bank July 2012

28 Banks have MFS Permission that includes BRAC Bank’s dedicated MFS, bKash, 18 in operations

Regulatory Framework
Agro-based livelihood
Cash based economy, significant domestic remittance flows
Growing urbanization for livelihood: Strong ties to rural roots, but poor physical infrastructure
Defined regulatory structure
Omnipresent mobile telephone network
106 million+ mobile phone users
60 million+ of these users do not have access to formal banking

Why MFS in Bangladesh
Enabling an MFS User
MFS: The ecosystem
Fund Flows
Barriers of M-commerce adoption in Bangladesh
Potential for full fledged M-marketplaces in Bangladesh
How to take it forward…
Implications of M-commerce in Financial Services
Benefits of MFS
MFS Industry Current & Future Trend
Present and Upcoming Services
Economic Impact
Bangladesh Bank web sources
Research report of Boston Consulting group
Interviewed with a Senior Manager, Marketing of Bkash
Lowes. (2014). About Lowe’s. From Lowe’s website. Retrieved from http://media.lowes.com/about-lowes/
Technology Inspiration. (2012). The “mobile” impact on retail | Lowe’s in-store app battle with an experience assault. From Inspiremartech website. Retrieved from http://inspiremartech.com/blog/category/mobile-technology/mobile-commerce/
Woodward, K. (2012). internetRetailer. Lowe’s elevates the status of its web and mobile channels. From insideRetailer website. Retrieved from http://www.internetretailer.com/2012/12/06/lowes-elevates-status-its-web-and-mobile-channels
Lowe’s. (2014). What is Lowe’s innovation labs? From Lowe’s
website. Retrieved from http://lowes-innovationlabs.squarespace.com/about/
Tode, C. (2014). Lowe’s strives for competitive advantage with life-size augmented reality experience. Retrieved from http://www.mobilecommercedaily.com/lowes-strives-for-competitive-advantage-with-life-size-augmented-reality-experience
Lowe’s. (2011). Investor relations. From Lowe’s website. Retrieved from http://www.lowes.com/AboutLowes/AnnualReports/annual_report_10/financials.html
Kelly, S. (2014). What is Occulus rift – and why should you care? From Mashable website. Retrieved from http://mashable.com/2014/03/26/oculus-rift-explained/


Mobile phone enabled Coca cola vending machines ●installed in the Finland
Machine accepted payment via SMS text message
E-ticketing through Mobile
Mobile parking payments- Norway
Train tickets-Austria
Airline tickets-Japan
Mobile Branchless Banking launch in Kenya with 7 million customers, followed by South Africa, Philippines and Indonesia
Mobile Apps began appearing in 2008 and are typically operated by the owner of the mobile operating system, such as the Apple App Store, Google Play, Windows Phone Store, and BlackBerry App World.
29% of mobile users have now made a purchase with their phones
What's going on this year ???
Try to provide mobile experiences that are so much more helpful to consumers than the 3rd parties, there is little reason for the consumer to go elsewhere.

Integrated multi-channel experience.
Holoroom expansion – roll out for kitchens, outdoor living, etc.

Competitive edge is : Innovation Lab

Leading technology innovations, not trailing behind Walmart & Home Depot
“Never Stop Improving”, so they can satisfy the ever-changing needs of their customers
Actually what's going on 2014
Success Stories
Benefits for Lowe's
M-commerce -
* Mobile business has
increased to 20%
of overall Lowes.com traffic.
* Had to double their inventory to
450,000 items
on mobile app to meet customer demand.
* Just in looking at recent data,
revenue growth has averaged $2billion
per year since 2010.
Profit every year since 1961
All activities related to a (potential) commercial transaction conducted through communication networks that interface with wireless devices.

3 factors have significant positive influence towards the adoption of M-commerce services in Bangladesh

Agent and Customer literacy on mobiles and MFS: A barrier which will take time to overcome to bring about behavioral change.
Segmentation and product development
Liquidity Management
Spread and depth of Agent network
By definition MFS goes to places where conventional banks don’t
Agents have to travel far and wide to get to a bank where he can deposit or collect money
Physical security
Value Chain
Roles and partnerships of various stakeholders
Risks and fraud, consumer protection, security
Efficient use of infrastructure
Level playing field for all MFS providers

Any Questions ???
Questions ???
You !!!
Company Name: Mobile Vikings
Nusrat Epsi

Learning Objectives
• Overall discussion and current scenario of M-Commerce
• How the concept of M-Commerce is being adopted in different culture.
• Challenges in adopting and implementing M-Commerce
• How M-Commerce benefits individuals, business and economy as a whole.

Nusrat Epsi
We are now seeing the beginnings of mobile commerce's evolution in Worldwide. In one side of the world take the benefit of M-Commerce by using smartphone apps whereas the other side of the world is taking benefit by simple basic phone.

As customers increasingly become accustomed to using their mobile device to access online information and use various applications, this new form of business transaction clearly has the potential to reach much higher levels of usage and the applications may take unexpected directions in nearest future.
Full transcript