Today, we break from the product focused nature of our posts to bring you important consumer insight related to mobile shopping statistics. What are the current trends when it comes to shopping on smartphones, and where is the innovation headed next? Discover the answers in this special Buyer’s Lounge report.
Recently, Google changed its algorithm for ranking pages to reflect the mobile-savvy consumer base. Now, websites that are not mobile-friendly will rank lower than websites which have mobile versions. Between the announcement of this “Mobilegeddon,” as it has come to be known as, and the switchover taking place, Google reported that there has been a 5% traffic increase for mobile friendly sites. 74% of users are more likely to return to mobile-friendly sites, meaning if you are looking to improve your website’s bounce rates and conversion in addition to overall traffic, you will want to optimize your site if it is not already. Mobile shopping statistics from International Data Corporation report that only 16% of enterprises currently have a mobile strategy in place, so get ahead of the competition before you are left in the dust.
Now that we have established that the majority of E-commerce browsing is being conducted via phone, what comes next in terms of mobile shopping statistics? What else should retailers be paying attention to? It is time to consider diversifying payment options. Estimates for mobile shopping statistics say that by 2019, mobile payments in the United States will increase from $52 billion to $142 billion. Customers want to use their phones to pay. Venmo, Google Wallet, Apple Pay and Paypal are all mobile apps that allow for payments and money sharing to be made from a handheld device. Banking apps are entirely the norm. Facebook Messenger is poised to be positioned as a payment platform as clothing brands such as Everlane and Zulily experiment with order processing and delivery via messenger. Twitter recently introduced the “buy now” button. Apps like Groupon allow for purchase with a simple swipe up.
These mobile shopping statistics and patterns are telling us that if you want to stay competitive to the market, you will need to make sure your customers can pay seamlessly and instantly from their mobile device. Spending several minutes filling out billing and shipping information is not an option — a slow checkout process is one of the leading factors of shopping cart abandonment. However, even brick and mortar stores will need to adjust to cater to the consumers who are desiring to pay with phones in the physical world.
For more mobile shopping statistics and articles, we encourage you to follow us on Twitter, where we feature up to the minute updates on trends in the retail industry, technology, E-Commerce and more.
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