Mobile Is Making Most of E-commerce Revenue, but Most Retailers Are Still Not Mobile First
Though Smartphones appear to be taking over the e-commerce platform, most retailers are still hesitant to shift to mobile-first strategies and make the most of the mobile shopping explosion.
A study on the effectiveness of smartphones in sales confirmed that a whole 55 percent of the $410 billion e-commerce made last year came from mobile sales. However, the same research also discovered that 48 percent of cart abandonment takes place during the payment stage. And that; 4 out of 5 consumers abandon the checkout process because keying in card details is annoying and tiresome. On the other hand, this abandonment can also be linked to shopper insecurity. 1 in 5 shoppers fears exposure to identity theft when paying using their smartphones.
Shoppers also prefer having a clearer look at an item online before releasing payments. The group of shoppers that prefer checking products on the internet is 70 times larger the number of people who rush to add items to cart. As a consequence, almost 41 percent of shoppers say small screens is the reason they dislike mobile buying, whereas 28 % say mobile sites are challenging to navigate and use.
But none of these barriers could stop some of the mobile-first retailers in the market from flourishing. One similar characteristic of such businesses (particularly those that succeed) is the fact that they all use mobile apps to triumph over these sales issues and grow against all the odds.
So far, incorporating smartphone apps is the most practical and efficient way to rise above sales problems related to mobile buying. Most mobile shoppers (92 percent) prefer buying on an app than purchasing on the website. 65 percent of shoppers are more likely to buy when shopping on an app than on the web. All these factors plus the increasing dependence on mobile wallets are enough evidence of how fast the industry will continue to grow.
Nevertheless, it helps to understand that the approach you use in marketing your app will determine how successful you emerge. An app is only as good as the number of users it can attract.
Author Bio: Electronic payments expert Taylor Cole is a passionate entrepreneur who enjoys to write, produce music, and travel. Bestpaymentproviders is the UK’s best instant approval merchant account no credit check company, serving both traditional and high-risk merchants.