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“Not having a mobile optimized website is like closing your store one day each week” -Social Monitoring
While E-Commerce is a booming industry that is growing by the day (especially in Europe and Asia), the sector that had the most growth over the last two years is Mobile Commerce, or M-commerce. In fact, M-commerce is grossing a 15% annual growth (and exploding even more in certain parts of the globe). According to the newly released 2016 Mobile 500, by 2020, almost half of E-commerce business will be done via mobile. Optimization is key to tapping into the M-commerce market and it’s not too late to get ready.
What’s interesting about M-commerce is where it happens. One might think that these are purchases that consumers make when away from their PCs, but 77% of all mobile searches happen at home or at work. Mobile users have a far more intimate relationship with their devices than their computers, and marketing strategies need to move forward with this in mind. 81% of smartphone or device purchases are made spontaneously, and 63% of users expect to do even more shopping on their mobiles in the next few years. Mobile users aren’t shopping with their devices because they’re obligated to- they choose to.
Over one third of the world’s population who have access to the internet access it via mobile devices, and 58% of smartphone owners have already used a mobile device to purchase online. What does this mean for your E-commerce? It’s time to get your site appropriately optimized for mobile, and that means different mobile devices too.
If the statistics around mobile didn’t surprise you, you might be surprised to learn that the likelihood of a consumer purchasing goods on a tablet is three times higher. What’s more, tablet users are likely to use their tablet to purchase online at least once per week, and more than half state that they would prefer to shop on their tablet than on a PC.
Neglecting to optimize your site for mobile can have serious consequences of your revenue. “Not having a mobile optimized website is like closing your store one day each week”– Super Monitoring says. The results are clear: a good mobile experience can offer your E-commerce some great branding. 61% of consumers have a better opinion of your brand when you offer a good mobile experience.
Alternatively, 57% of users said they wouldn’t recommend a business with a poor mobile site. Worse, 41% have turned to a competitor’s site after a bad mobile experience. Slow loading can kill your brand image, and it can also kill your sale. Each millisecond of loading time counts, with a loss of 1% of sale probability with every 100ms of loading time. Your site has to be fast, light, and well adapted for mobile users. If not, your customers could join the 30% average of consumers who abandon a purchase if the site isn’t optimized. Consumers expect a fast and easy experience with mobile purchasing, and they expect it to be easier than purchasing in store or on their PCs.
Optimizing your E-commerce site for mobile isn’t an option, it’s mandatory. Otherwise, a loss of sales and abandoned carts are to be expected. The key is having a simple, light, and fast site that translates well over many devices and screen sizes. The best is to test your site on your personal devices to see how they hold up. Go through each step carefully, and make sure each part is as user-friendly as possible. M-commerce is only going to grow in coming years, and E-commerces can be ready by adapting now.
Are you ready for M-commerce? Tell us below or tweet us!