Criteo, the performance marketing technology company, has released its Q3 2015 State of Mobile Commerce Report. This quarterly analysis of industry wide trends arms marketers with essential mobile commerce intelligence for engaging consumers and boosting sales.
Criteo’s analysis of 1.4 billion online transactions reveals 50 percent of purchases worldwide now involve multiple devices throughout the consumer buying journey.
Criteo’s research shows that early investment in apps is also generating significant payback for eCommerce companies that prioritised this platform. In the retail category, brands that make their app experience a priority generate nearly 60 percent of mobile revenue from the app, up from 50 percent in Q2, and heavily outperforming desktops. For travel brands that make their apps a priority, about 50 percent of mobile revenue comes from the app.
“Cross-device browsing and conversion is becoming more prevalent in Australia and marketers need to adapt to this growing behaviour,” said managing director of Criteo in Australia and New Zealand, Jeremy Crooks. “Today’s path to purchase looks very different from just a few years ago, and brands should ensure that their digital strategy and spend reflects this.
“With app conversion rates dominating over mobile browsers globally, Australian brands who make their apps a priority focus will remain one step ahead of the competition. Mobile continues to play a huge role in the customer’s cross-device shopping journey, and marketers looking to compete in a crowded e-commerce arena, boost customer loyalty and drive sales, will need to invest and target accordingly.
Cross-Device is the Norm
Consumers are browsing and buying on all devices—laptops, tablets and smartphones. For brands to succeed, they need to invest in mobile and allocate digital spend strategically:
- For purchases completed on laptops and desktops, 39 percent of buyers use at least one additional device during the shopping process.
- On mobile, 43 percent of smartphone buyers and 47 percent of tablet buyers use an additional device.
- Cross-device purchasers are 20 percent more likely to use their mobile device to complete a transaction.
Apps are the Next Frontier
Brands that prioritise apps as a key revenue driver see profits surge. Ensuring that the app experience is seamless, intuitive and engaging is central to boosting engagement and conversions:
- For retailers who have prioritisued their app experience, 58 percent of all mobile revenue is generated through the app; travel is at 49 percent.
- Apps convert at a rate of 3.7 times higher than mobile browsers and two times more than desktop in terms of adding to basket and buying.
Smartphones are Favoured
Consumers are more frequently choosing smartphones as the preferred shopping device. While all devices and channels should be optimised, smartphones are a key vehicle for brands:
- Smartphones generate 56 percent of mobile transactions and drive 64 percent of mobile purchases for top quartile retailers.
- Smartphone conversion rate is two times better for top quartile retailers than average retailers.
Global mCommerce is Up
Mobile commerce activity is growing worldwide with Japan, the UK and South Korea seeing the most retail eCommerce transactions. Global brands need to be tuned into how different consumer segments behave in order to deliver the best cross-device and mobile experiences:
- Mobile commerce now represents 35 percent of eCommerce transactions globally
- Cross-device purchasing is represented by 50 percent of eCommerce transactions worldwide.