The scrapping of the Indian currency notes of higher denomination (i.e., Rs. 500 and Rs. 1000) may seem to affect the economy or the money circulation. However, the center’s move of demonetization has augmented the m-commerce industry and we may expect a raise in the number of mobile application development companies. It is expected that most of the retail commerce would very soon shift to mobile apps. It is a fact that the smartphone usage is growing at an exponential rate and would grow even faster with demonetization and new service providers.
The statistics show that the m-commerce accounts for about 60% of online sales wherein 30 to 50% growth is witnessed in the tier 2 and 3 cities of India. One of the factors that could be attributed to the growth of m-commerce is the affordability of smartphones and the mobile data plans.
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