In 2010, mobile commerce spend in the United States hit $1.4 Billion, kickstarting the industry on a fast track to growth. Just a year later, mobile commerce spend doubled to 3.4 Billion. Flash forward to 2017, this rapid growth has yet to slow down achieving a record high of $156 Billion dollars spent. Today's shopper commands the ability to purchase on-the-go when they are ready and transact instantaneously, requiring retailers to be present wherever and whenever a shopper needs them— which includes mobile. However, in what is becoming a cluttered space, it can be challenging to know exactly what the best mobile strategy is for brands leveraging proprietary apps, mobile web, and smarter partnerships across a wide spectrum of mobile properties.
Driving Mobile Commerce Growth
On March 8th, eBay, Button, and Shopkick will provide insights in a webinar on where retailers and brands should focus their attention to reach today's consumer. For detailed insights and actionable ideas on this topic, register for the webinar today. The state of mobile commerce has many wondering where the industry is headed, what actually converts among consumers on mobile, and are apps leading the charge?
At retail giant Groupon, Ruairi Fitzpatrick, Head of Media Marketing International, expects a shift in approach and focus by advertisers:
"I personally feel the two strongest trends to develop will be a continued focus on personalization and driving customers into an app experience. A big part of the conversion story is the experience, so driving downloads & activations in-app will also be a key focus of most ecommerce companies in 2018. People look at their phones 70 to 150 times per day, apps can play a huge part in helping to drive frequency with consumers."
Topping more than 2.5 hours a day, the average user spends 16x more time on the top apps than they do on the top mobile websites. Not to mention, Button's proprietary data shows apps outperform mobile web:
The performance of mobile commerce isn't slowing down, App Annie predicts global conversion will continue to rise, reaching a 40% conversion rate worldwide. The industry as a whole will also grow, as commerce spend is expected to surpass $6 Trillion in 2021 worldwide as mobile-first strategies rise.
Uncovering a New Audience for Incremental Sales
By now we know why mobile commerce and a focus on apps matter, but how exactly can we unlock this channel? On March 8th, we'll be presenting a webinar case study on how eBay, Button and Shopkick uncovered a new audience and drove incremental mCommerce sale
Register today to learn how to capture your fair share of mobile commerce!
Start using Button Tap.