The time has come for retailers to rethink their mobile commerce strategies. According to the H1 2016 State of Mobile Commerce Report out today from Criteo, mobile commerce is surpassing desktop purchasing as mobile devices are beginning to dominate the commerce landscape.
Some of the findings include:
- For the first time ever, the leading 25 percent of mobile retailers saw 50 percent of sales from mobile.
- Apps drive a larger percentage of shoppers down the purchase funnel and convert at three times the rate of mobile web.
- Marketers with the best mobile sites and apps take a significantly larger share of mobile transactions.
Retailers that have optimized their mobile shopping experience accordingly—both in-app and on mobile—are seeing strong traction from consumers:
- In H1 2016, the top U.S. retailers grew mobile sales by 30 percent year-over-year to now capture 52 percent of all e-commerce transactions.
- Across all U.S. retailers, mobile share of e-commerce transactions increased by 17 percent year-over-year.
- Fashion and Luxury retailers pulled ahead of the pack in Q2 2016 with over 40 percent of e-commerce transactions taking place on mobile, an increase of 17 percent over Q2 2015.
As e-commerce sales continue their meteoric growth and mobile continues to grab a larger market share, retailers must capitalize on this rapidly evolving trend or risk losing sales and customers if they wait too long. Here are five suggestions for retailers to make to their mobile strategies to evolve with the mobile commerce trends.
Fix issues that cause shopping cart abandonment
From unexpected shipping charges to long checkout processes, there are myriad reasons why customers abandon shopping carts. Retailers that make sure their mobile checkout is usable and trustworthy will see sales and profits rise.
Add buy buttons on social sites
While some experts claim it will take a while for consumers to get accustomed to making purchases through social, it likely won’t take long before they’re on board. As consumers will continuously expect greater ease, not wanting to leave Facebook to make purchases from an ad in their newsfeeds, it might make sense to get into the game test out a buy button.
Reach customers when and where they want to be contacted
Consumers expect to engage anytime and anywhere with brands. The time has come to optimize your omnichannel retailing strategy to effectively reach the connected customer.
Create a smooth transition between channels
Today’s customer experience is dynamic, with a customer journey proceeding over multiple devices and channels. With mobile now being one of the most critical channels in the journey, retailers must ensure smooth and seamless transitions between mobile, bricks and mortar, Web, and contact center. This starts with ensuring the IT and marketing teams that oversee these areas are all working together.
Offer retail-branded mobile wall
With Apple Pay taking over many consumers’ small screens and Android Pay hitting the ground running, retailers have been forced to hustle up their mobile payments adoption to benefit the new, digitally-savvy shopper. Those that do should have the ability to send real-time deals to consumers in the vicinity.
Offer a highly personalized experience
Personalization isn’t a new concept, yet many marketers quickly delve into mobile, before thinking about creating relevant and personalized experiences. The more that retailers can enable customized and relevant experiences for the small screen, the stickier the experience will become.
What's in store for mobile commerce?