As the year draws to a close, we’ve collated and would like to share with you our favourite reports from 2014, charting the rise of mobile, and proving the necessity for retailers to have a strong mobile offering. If you do nothing else over Christmas, read these reports!
The Tipping Point
According to the IMRG/Cap Gemini quarterly report from September, in the UK we’ve now reached what they refer to as “the tipping point” where mobile devices have overtaken desktop and now comprise over half of visits to retail websites. Conversion rates are still lower, with mobile representing 40% of total sales, but we expect this to increase next year as retailers improve their mobile offering and become even more effective at utilising native apps. Read here.
Rapid Growth In Mobile Revenue Shame
Internet Retailer’s Mobile 500 report is a forensic evaluation of the top retailers globally and their success on mobile. Using a mixture of publicly available information and estimates, for the first time ever, the report ranks the brands generating most revenue through mobile, the fastest growing, and gives a breakdown on an individual company level. You’ve got to pay for this report, but well worth it. Read here.
Mobile Growing Around The World
Criteo’s State of Mobile Commerce Q4 2014 report analyses over 3,000 online retailers, and their conclusion is that mobile commerce is rising faster internationally than expected. This year for the first time smartphones have overtaken tablets in share of transactions, reflecting growing consumer confidence with mobile. The report also highlights the growing popularity of Android, and demonstrates why retailers need to provide a mobile experience that is best in class across all devices. Read here.
With improvements in payment technology and increased consumer confidence in purchasing through mobile, mcommerce will continue to grow in 2015. Retailers have to respond and give consumers the best mobile experience, across platform whether that be on mobile web or app.
Happy Christmas & New Year from the Poq team!