It's no surprise that mobile shopping continues to be a popular option for Millennials. What may surprise you is just how much business you stand to lose without a strong mobile app to capture those sales. According to Criteo's latest State of Mobile Commerce Report, half of all ecommerce transactions were conducted through applications rather than by navigating to a store's mobile site through a browser. Retail Customer Experience weighed in on the report and its implications: you can read the full post here, and also check out MBS' mobile app solution for iOS and Android, On The Go.
In fact retail apps that are outperforming desktop and cross device purchasing (in which a smartphone, desktop or tablet may be used) are 40 percent of mobile transactions and consumer product research.
Here are a few more highlights from the report:
- U.S. mobile transactions cross 30 percent share: And it’s much higher for top-quartile retailers.
- Retailers who optimize mobile sites generate many more mobile transactions than those who don’t.
- Apps generated almost 50 percent of mobile transactions for retailers who have made their app experience a priority.
"The customer purchase journey has become increasingly complex as consumers have stopped using a single device to make their purchases,” Jonathan Wolf, Criteo chief product officer, stated in an announcement. “Delivering an engaging app experience and connecting seamlessly with consumers across multiple devices are key to capturing ecommerce sales in this new world."
The report features an analysis of 1.4 billion individual ecommerce transactions totaling over $160 billion of annual sales globally. The report states fashion, luxury and travel industries are seeing one in three transactions taking place on a mobile device.
"Sites that are optimized for mobile see a 3.4 percent conversion rate more than double that of non-optimized sites where only 1.6 percent of consumers convert," states the report.
Consumer adoption of mobile remains the biggest trend in ecommerce, noted Wolf.
"Marketers’ ability to leverage new technologies to accurately identify and reach consumers wherever they are is going to become critical as this trend continues toward a world where the majority of transactions will take place across multiple devices," he stated.