The number of tablets sold worldwide has increased by nearly 70 percent during the last 12 months, leaving no doubt that mobile devices have overtaken desktops in terms of popularity. Although each person’s day-to-day behavior is different on mobile devices, one of the most popular activities includes researching products.
More and more customers are migrating to tablet and mobile devices to research, compare and buy products. In fact, more than a third of visits to top e-commerce sites comes from a mobile device, according to the latest study from comScore. However, a large number of retailers are still not mobile-ready. Here are the five most common m-commerce myths debunked and why you need to consider mobile going forward:
Myth #1: Most people prefer desktops/laptops for shopping
Shoppers are no longer using just one medium to research, compare and buy products. Product searches on smartphones have increased 66 percent, according to the British Retail Consortium. Customers often look for products on their mobile devices while on-the-go and decide on making a purchase at a later time through a different device, also known as “multiscreening”.
As many consumers start their shopping experience on a mobile device, it’s essential for retailers to be available there through an optimized website or mobile app.
Myth #2: Mobile shopping is for Gen Y
Millennials or members of Generation Y have grown up during the outbreak of advanced technology. They’ve been playing video games, carrying cell phones and sending e-mails since a young age. This early interaction with technology has translated to a generation full of tech-savvy adults. However, this doesn’t mean mobile shopping is only for millennials. As prices for smartphones continue to drop more Generation X’ers (people born between 1965 and 1980), Baby Boomers (people born between 1946 and 1964) and older consumers are drawn toward mobile shopping due to its convenience. In fact, according to a 2013 Motorola Holiday Shopping Study, 73% of Gen X’ers use mobile for shopping-related activities.
Myth #3: M-commerce makes sense for only big retailers
Regardless of how big your business is, you’ll need a mobile strategy to remain relevant. While larger retailers may have a lot more advantages over SMBs, e-commerce levels the playing field for everyone.
Mobile shopping is quick, easy and convenient for consumers everywhere. With Juniper Research predicting mobile transactions to reach $3.2 Trillion by 2017, this is not an opportunity to be ignored. In fact, Adobe Digital Index Study predicted that mobile-optimized retailers stood to gain more than 20% of their online sale from mobile devices in 2013.
If you don’t have the budget to jump into the mobile realm head-first, start with optimizing your website showing consumers that you’re invested in mobile and are building your mobile presence.
Mobile transactions predicted to reach $3.2 Trillion by 2017
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Myth #4: A great desktop website compensates for the lack of a mobile presence
Anyone who has ever visited a e-commerce desktop website on a mobile device knows that the experience is harrowing. Tiny buttons and extensive checkout process make for bad user experience on mobile. According to a recent Harris Poll, two-thirds of shoppers abandoned their online purchases on mobile devices due to poor checkout experiences. While the same checkout process might work well on a desktop website, mobile needs more care.
While adding credit card details on a desktop website is easy, doing the same on a smartphone can be a hassle. SeeWhy, a major player in real-time e-commerce shopping cart recovery, states that alternative payment options such as Paypal, Google Wallet and MasterCard MasterPass resulted in 101% increase in conversion rate from smartphone users.
These are just a few examples of why even an exceptional desktop website needs an equally great mobile site in order to convert better.
Two-thirds of shoppers abandon online purchases on mobile devices due to poor checkout experiences
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Myth #5: Mobile is not for brick-and-mortar retailers
Thinking like this could put a brick-and-mortar retailer out of businesses within a decade. Regardless of how loyal your customers are right now, the mobile landscape is changing customers’ path to purchase. A recent study by Google found that 8 in 10 consumers use smartphones in-store to make a purchase decision. With 82% shoppers using search engines for product research while in a store, if your store doesn’t show up in the search results, you are likely to lose out.
8 in 10 consumers use smartphones in-store to make a purchase decision
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M-commerce allows consumers to shop anywhere at any time. Creating a seamless mobile shopping experience your customers can trust and rely on, will help you engage with them better and improve conversions. Are there any m-commerce myths that you think we missed here? Share your thoughts in the comments below.
