A comprehensive analysis of 1.4 billion online transactions reveals that early investment in apps and understanding mobile marketing should be key strategies for retailers, as mobile is now key to most paths to purchase.
The study by Criteo, published in its Q3 2015 State of Mobile Commerce Report, not only finds that 50% of purchases worldwide now involve multiple devices throughout the consumer buying journey, but also suggests that early investment in apps is also generating significant payback for eCommerce companies that prioritised this platform.
In the worldwide retail category, brands that make their app experience a priority generate nearly 60% of mobile revenue from the app, up from 50% in Q2 and heavily outperforming desktops.
For travel brands that make their apps a priority, about 50% of mobile revenue comes from the app.
Brands that prioritise apps as a key revenue driver see profits surge, says the report. Ensuring that the app experience is seamless, intuitive and engaging is central to boosting engagement and conversions.
Globally, for retailers who have prioritised their app experience, 58% of all mobile revenue is generated through the app; travel is at 49%.
Apps convert at a rate 3.7 times higher than mobile browsers and two times more than desktop in terms of adding to basket and buying.
Consumers are also browsing and buying on all devices—laptops, tablets and smartphones. For brands to succeed, they need to invest in mobile and allocate digital spend strategically. For purchases completed on laptops and desktops, 50% of buyers use at least one additional device during the shopping process. On mobile, 47% of smartphone buyers and 50% of tablet buyers use an additional device.
“We continue to see the rise of mobile commerce in a cross-device world,” says Jonathan Wolf, Chief Product Officer, Criteo. “Advertising strategies now need to include mobile at the centre if companies want to engage today’s savvy consumer. Marketers need to pay close attention to the consumer’s purchasing journey if they want to attract buyers and maximise sales.”