Already embedded in most aspects of our lives, the mobile phone is fundamentally changing how we shop. The proof is in the holiday pudding. 2016 has been a record breaking year for mobile commerce with Black Friday and Cyber Monday each bringing in over $1 Billion of sales in the US.
Despite this growth in mobile e-commerce, the bulk of the opportunity is still ahead. While 60% of online traffic comes from the small screen, mobile still accounts for only 16% of conversions. Average order value on desktop is 50% greater than mobile and nearly 80% of items in mobile carts are abandoned.
While the revenue opportunities for eCommerce businesses are huge, potential customers continually feel frustrated by lackluster mobile web experiences.
- 4 out of 6 people have experienced a bad mobile shopping experience firsthand.
- 42% of mobile eCommerce sites have a homepage design that doesn’t allow users to accurately deduce the type of site they’ve landed on.
- 27% of shoppers said it’s difficult to compare products and retailers via a smartphone.
- 91% of users will leave a mobile site if it doesn’t satisfy their needs.
Marketers need to find innovative ways to satisfy their customers and alleviate frustrations from both a UI and UX perspective.
Capitalizing on the vast opportunity in mobile web will be paramount to retailers’ success. By the end of 2017, analysts project that more than half of all e-commerce revenue will come from mobile devices totaling nearly $169 billion. Retailers who think mobile-first will be best positioned to adapt to the changing patterns of their shoppers while those who fail to serve engaging mobile experiences will leave millions on the table.
Time to take action
Mobile experience enhancement has serious business consequences and companies that have optimized their mobile web experience are growing faster than those that have not. As more and more people are using their smartphones and devices to shop, mobile commerce must become a top priority for any revenue-driven business.
To learn how to tap into the mobile consumer mindset to close the mobile conversion gap, see the infographic below.