The goal of any eCommerce website is to drive increasing numbers of transactions – whether they be from a desktop, tablet, or smartphone. With the rapid rise in tablet and smartphone adaptation by online shoppers, there has been a huge surge in m-commerce retail sales. Unfortunately, many eCommerce stores still face significant barriers when understanding and adapting m-commerce trends to increase site traffic and ultimately conversions and sales.
In our latest eGuide, M-commerce: Mobile Trends Impacting eCommerce, we identify must-know m-commerce trends and how you can apply them for your store. Below we have highlighted a few overall trends and five unique m-commerce trends within the Magento ecosystem – specific to Springbot customers.
Overall M-commerce Insights
Mobile Top Priority for 2014: Mobile commerce and thus mobile marketing has increased significantly with online retailers making mobile a top priority for 2014 in an effort to meet customer expectations.
Tablet Sales to Triple: Sales will more than triple from $130 billion this year to $453 billion in 2018 for tablets.
Smartphone Sales to Double: Internet Retailer projects that U.S. retail sales (for consumers shopping on a smartphone) will more than double from $70 billion this year to $173 billion by 2018 for consumers shopping on a smartphone.
Smartphone Ownership Increasing: Smartphone ownership is increasing among all age groups…although younger adults are most likely to be smartphone adopters.
Springbot M-commerce Trends
At Springbot, we have been monitoring m-commerce trends over the last year and we have seen phenomenal growth and some pretty interesting mobile device trends when it comes to our customers – and their Magento shopping cart.
Trend One: Traffic and revenue are on the rise for mobile devices.
Mobile continues to establish itself as an everyday part of our lives and as a result, mobile commerce initiatives have moved to the forefront of many online retailer’s growth plans. It’s clear that mobile can no longer be ignored! At Springbot, we’ve noticed that traffic from mobile devices is a significant portion of our customers’ site traffic and it’s becoming a meaningful percentage of your revenue. With mobile, we are seeing an increase in overall conversions by average order value (AOV), with smartphones driving traffic and tablets driving sales.
Trend Two. Bounce rates are higher on smartphones and tablets than they are on desktops.
Bounce rates are 22% higher on smartphones and 10% higher on tablets than they are one desktops. If you have not done so already, invest in getting your site mobile optimized so you can reduce bounce rates.
Trend Three. Smartphones have the highest lift in conversion rates.
Our customers are seeing an increase in conversion rates across the board when comparing 2012 to 2013. And smartphones have the highest lift in conversion rates at 35%, while tablet is at 19% and desktop is 18%.
Trend Four. 59% of new user traffic comes from mobile devices.
Remember that first impressions count.With so much new user traffic coming from mobile devices, you want to make sure the first visit makes a good impression and encourages repeat visits and purchases.
Trend Five. Tablets having the highest average order values (AOV).
AOV is increasing across all devices with tablets having the highest AOV at $148 with an annual increase at 17%. And smartphones have the highest annual increase in AOV at 19%.
Trend Six: Mobile is an Everyday Part of Life: Mobile continues to establish itself as an everyday part of our lives and as a result, mobile commerce initiatives have moved to the forefront of many online retailer’s growth plans. It’s clear that mobile can no longer be ignored! At Springbot, we’ve noticed that traffic from mobile devices is a significant portion of our customers’ site traffic and it’s becoming a meaningful percentage of revenue. With mobile, we are seeing an increase in overall conversions by average order value (AOV), with smartphones driving traffic and tablets driving sales. It is clear that mobile is a part of everyday life – especially when browsing and shopping online.
Want more trends?
Download our latest eGuide, M-commerce: Mobile Trends Impacting eCommerce, and read all the must-know m-commerce trends and how you can apply them for your store.
