Just like in the online world, faster load times are the key to getting shoppers to engage and spend on mobile.
So finds the latest 2016 Q2 Mobile Insights Report from Mobify , which goes on to suggest that website speed, long known to be connected to conversion rates and ecommerce revenue, has a direct connection to deeper mobile engagement, higher conversions and top-line growth.
Analysis of large volumes of data amassed from ecommerce sites across the Mobify customer base in Q2 data illustrates the specific impact of decreases in homepage load and checkout speeds, as well as the effect of an additional pageview per user, which delivered a 5.17% increase in user-based conversion. The report further indicates that the average company’s annual revenue increased by $398,484 (USD) when the average pageview per user went up by 1.
Understanding consumer behavior and linking it to engagement, conversions and revenue are critical because mobile commerce excellence now hinges on mobile engagement, with customer expectations changing rapidly, according to Forrester Research.[1] Mobify’s Insights Reports provide quarterly updates as well as actionable next steps for retailers and brands that want to better understand mobile engagement. This latest Mobify Insights Report analyzed 306 million visits and 6.2 million transactions for a total of $878M in revenue.
“Retail has rallied around the idea that successful ecommerce hinges on evolving quickly to support mobile engagement, but there is little data to support it and limited large volume data from leading retailers. With Mobify Mobile Insights, we aim to fill that gap, offer eye-opening data, and as importantly, provide specific guidance for retailers so they can act on what they learn,” says Vik Kambli, senior director of strategy at Mobify.
[1] The Forrester Wave™: Mobile Commerce And Engagement Platforms, Q1 2016
