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Despite the fact that most Americans are smartphone owners and tablet use is growing at exponential rates, most businesses haven’t embraced mobile optimization as much as one would expect. For those who are still in the dark ages about the benefits of mCommerce, check out these nine statistics.
2014 will be a year of massive growth for mobile retailers. In 2013, the top 500 retailers with the best mobile sites brought in more than $30.5 billion. That number will only increase as more companies invest in mobile, improve their sites, and grow their consumer bases.
Indeed, the consumer base for mobile is growing. More than 56% of Americans own smartphones, which means brands are catering to half of our country’s population when they invest in mobile optimization.
Back in 2010, ComScore predicted the number of mobile users would pass the number of desktop users in 2014, and Marissa Meyer, CEO of Yahoo, confirmed this data-point to CNBC earlier this year:
By the end of this year we (Yahoo) will have more mobile traffic than PC traffic.
Most consumers own both a PC and a smartphone (and/or a tablet). On top of that, tablets and smartphones have been the saving graces of many businesses, from local food trucks using their smartphones to swipe credit cards to restaurants using iPads to let customers order food.
Children are also growing up in the mobile world, with seven percent of children younger than eight owning their own iPads in 2012. The strong increase of iPad and smartphone use has led many to predict the death of the PC entirely.
The previous statistic doesn’t seem so far-fetched, now does it? Do you have a desktop at home? Do you have a desktop in your office? Despite the fact that PCs are readily available, people are using their smartphones for search.
When at home, 81% of respondents said they use their mobile devices because of their speed and convenience, and only 17% said they always use their mobile devices for search. More often than not, finding the right answers fast would trigger an additional action or conversion. About 34% of respondents either visited a store or made a purchase after searching for a company on a mobile device.
At the end of 2013, tablets tied with smartphones for mobile retail spending, and will take the lead in 2014. According to Business Insider:
Tablets are perfect devices for “lean-back,” or power shopping sessions. Their large screens make it easy to pinch-to-zoom for detailed product views, browse the Web, and search.
EMarketer predicts that tablets will account for 71.5% of mCommerce, while smartphones will only account for 27%. Of course, a lot can happen by 2017. Wearable technology could take off and we could all start buying through Google Glass and smart watches. One thing is for sure, this year your customers will try to buy your products from tablets and smartphones, or will turn to your competitors that can handle mCommerce.
A Harris Poll of 2,383 adults found that most believe smartphones will eventually replace cards and cash for in-store transactions. 43% believe that smartphones will replace the majority of cash and credit transactions in less than 10 years.
Starbucks is one brand that’s paving the way toward the cash-less revolution. On average, the company has five million mobile transactions weekly, and reported in January that 30% of total payments come through the Starbucks card or app. At least one in three Starbucks purchases aren’t made with cash, and this statistic is even higher because it doesn’t take credit cards into account.
As more companies let users make payments by scanning their phones, carrying cash and credit cards will become less necessary.
Some brands have been embracing showrooming and have implemented methods for shoppers to do their research to know they’re getting the best deal. The easiest way to do this is with price matching. If consumers can prove that a product is cheaper somewhere else, often by bringing in a receipt or showing the online price, then a store will match it in order to make the sale.
The question, “what can I do to get you to leave here with my product?” is still relevant in 2014. Some companies like Kate Spade and Zappos are even setting out iPads for shoppers to do product research before they buy.
Mobile websites and eCommerce are indeed increasing in popularity, which is forcing brick-and-mortar stores to adapt.
While the majority of consumers want mobile-friendly websites, and 75% say they’re more likely to revisit a good mobile site, brands aren’t catching up. As of June 2013, 66% of Fortune 100 companies aren’t optimized for mobile. Furthermore, 96% of smartphone owners have visited a website that doesn’t work well on their devices.
Optimizing for mobile correlates directly to sales. 67% of consumers said they’re more likely to buy from a mobile-friendly website. Users who have difficulty on a site are five times more likely to give up or visit a competitor’s page. 55% percent of respondents said a frustrating mobile experience hurts the brand overall.
Last June, Google launched an update that favors mobile-friendly pages. If your site isn’t compatible with smartphones and tablets, users will struggle to find your site in the first place and won’t even have the chance to abandon their shopping carts.
Half of commercial emails are opened on mobile devices, and the 80% that aren’t optimized for mobile will get deleted. How many people do you have in your email list? Divide that number by half, that’s the amount of readers that you’re alienating by failing to optimize your email. 80% is actually an increase from the 2012 survey, where 70% of respondents said they would delete un-optimized emails.
On top of isolating your readers, you’re probably also shrinking your email list. In 2012, 18% of respondents said they would unsubscribe form lists that send poor emails; that number almost doubled in 2013 to 30%.
If you want to look at mobile email marketing from a “glass half-full” perspective, consider this: 63% of consumers said they would consider making a purchase as a result of an email on their mobile device – and we all know how consumers favor mobile purchases.
Also, 84% of Fortunate 100 companies offer apps. The industries that have the most companies with apps include financial, insurance, and transportation. More than 80% of Fortune 500 companies in those industries offer apps to consumers. The food industry barely cracks the top 10, but still holds its own with 64% of Fortune 500 companies in that industry embracing this technology.
These companies are the ones we follow with magnifying glasses to track what they’re doing wrong and what they’re doing right. If they’re emphasizing mobile, then why aren’t we?
Do you need any more convincing? This data speaks for itself. Failing to optimize your emails and website is directly costing your company customers, leads, and sales. It’s too valuable to be ignored.