Despite being an underdeveloped nation, Cambodia is quickly catching up to its neighbors by developing its telecom sector. According to a research article published on telecom trends in Cambodia, mobile devices have greatly penetrated the market. In 2014, there were around 20 million mobile phones.
Internet and mobile exploding penetration rates in Cambodia
It is projected that the number of internet subscribers will rise to 9.5 million by 2020, a number equivalent to 65 percent of the population of Cambodia. The internet penetration rate in Cambodia currently stands at 30 percent. According to news agency Xinhua, the rise in internet penetration rates can be attributed to increasing connectivity and a desire on the part of youngsters to gather as much information over the web as possible. With the wide availability of inexpensive internet-enabled devices, and more convenient access to the internet, internet penetration rates are likely to explode even further.
The mobile penetration rate in Cambodia was 139 percent in 2014 and will likely rise in the present year as well as the years to come. The growth of the internet together with wifi and wireless technologies (such as the launch of 3G, 4G and LTE) has bolstered the popularity of smartphones and tablets. Thanks to these factors, users now enjoy a more agile and convenient mobile phone experience, which is imperative to the success of e-commerce businesses. Organizations such as Kaymu.com.kh are now showcasing an overwhelming variety of products on their websites for consumers to view and purchase over their smartphones, and e-commerce revenue in the Kingdom now amounts to millions of dollars.
How Mobile Phones Actually Fuel E-commerce Growth
A number of factors have contributed to this ongoing trend and an article published in Pacnet Industry News highlights the factors that are in play, the primary being the mobility aspect associated with mobile phones and tablets. Nowadays, you can research a plethora of products online, compare prices and features, and buy the one you like the most; all from you mobile device and from any location in the world. In addition, the rapid growth of social media platforms have helped create awareness about e-commerce ventures. Simply put, it is convenient for people to shop for products over the internet using their mobile devices.
Secure payment mechanisms and mobile apps
Many businesses have also gone to great lengths to introduce convenient and secure payment gateways that make the shopping process easier. While cash-on-delivery services are highly popular in Cambodia, the use of wire transfers and credit cards for online transactions are still relatively rare. However, we expect a considerable growth in the use of these payment methods in the years to come.
Businesses like Kaymu Cambodia have developed compatible and user-friendly mobile apps that can be downloaded by users on their smartphones to allow hassle-free shopping on the go, taking online buying and selling to a whole new level of expedience.