Performance marketing tech company Criteo recently released its Q4 2014 State of Mobile Commerce Report, critically looking into consumers’ mobile shopping behaviour and trends.
Finding that mobile now accounts for more than 30 per cent of all the e-commerce transactions in the world, the report highlighted that mobile commerce is growing faster than most of us think.
“There has been a significant lack of information about mobile commerce, leading many marketers to under-estimate the opportunity,” Jonathan Wolf, Chief Product Officer at Criteo remarked.
“Our report found that mobile is now about purchasing not just researching, with mobile conversion rates high across all devices and retail categories, and that there are huge opportunities for e-commerce businesses to capture increasing sales via mobile devices, particularly in the retail and travel industries,” he added.
Wolf further pointed out that they now expect mobile to soon capture half of all transactions, as mobile usage continues to skyrocket (we are not looking up from our smartphones any time soon) and retailers better optimise their mobile sites for conversion.
What are the key findings in this report?
The report, which is based on Criteo’s analysis of individual transaction-level data from more than 3,000 e-commerce, retail and travel advertisers globally, found that:
- Smartphones now generate more transactions than tablets in the US, Brazil, Italy, Spain, Japan and South Korea but not in the UK, Germany, France or the Netherlands.
- And it’s not just Apple. Android phones generate over a third of smartphone transactions. Furthermore, Androids’ share of e-commerce transactions is higher than the iPhone’s in many countries including Germany, Italy, Spain, Brazil and South Korea.
- Yes, you will buy a designer handbag from your phone. A third of fashion transactions now come from mobile and average order values are now close to desktop levels not just in fashion but also in luxury, sporting goods as well as health & beauty.
If you don’t like how your selfies look, you can order for make-up right away!
Another interesting finding was that top quartile US retailers now generate almost 40 per cent of their e-commerce transactions from mobile, against 27 per cent for US overall whereas the bottom quartile sees only five to ten per cent of transactions from mobile.
This represents a four times difference in share of mobile transactions, demonstrating that retailers overlooking mobile are losing sales. Yep, you snooze on mobile; you lose in no time…
“Consumers are more comfortable than ever purchasing from mobile devices, which makes it increasingly vital for advertisers to effectively reach them across devices,” said Wolf.
“If you’re an e-commerce player and you’re not focusing on allowing mobile audiences to purchase from you, then you may not be in business in a couple of years,” he warned.