Mobile Commerce on Rise; Contributing 45% of Total Online Transactions: Criteo Report
A great potential seen for retailers to invest in mobile apps; increase sales by reaching to shoppers in a personalized way
Criteo, the leading commerce marketing technology company, today debuted findings from its Global Commerce Review, analyzing shoppers’ activities, behaviors and preferences across all devices and browsing environments. The report, which highlights a growing importance of mobile apps among shoppers, reinforces the “mobile-first” mindset, and will help inform omni-channel commerce marketing strategies worldwide. Another key finding includes the relevant touch points for a shopper’s journey.
Expressing his views on the findings of the research, Siddharth Dabhade, General Manager, Criteo India said, “With increase in smartphone usage, app adoption and mobile browsing is the largest media consumption for Indian consumers. And with this, an interesting omni-channel shopping pattern has also emerged. He further added, “Our latest study also illustrates this, where smartphones are seen contributing to nearly fifty percent of the total online transactions in India. It is the perfect time for brands and retailers to leverage the rise of mobile-commerce in India and invest in mobile apps and mobile advertising, to effectively connect with shoppers to yield greatest possible commerce results”
Mobile web usage has reached a maturity point, but shoppers rarely stay in one place for long, moving in and out of walled gardens, and are still buying on-the-go, with varying levels of frequency, on all connected devices. Also with rise in the mobile usage, the frequency of the shopper engagement is also increasing. In India, smartphones contributes 45% of total transactions (App excluded). Smartphone usage has been increasing at 6% since Q4 2016, showing that smartphones continue to be the most preferred environment.
The omni-channel strategies help educate shoppers during their winding journey, which in turn drives positive online results. Global omni-channel customers offer the highest lifetime value to brands and retailers, generating 27 percent of all sales, despite representing only 7 percent of all customers. Globally, retailers that are successful in combining offline and online data are able to apply more than four times (4X) as much sales data to improve marketing efforts.
App has now become a crucial touch-point for a shopper’s journey. Owing to this fact, apps are presenting a huge opportunity in terms of reaching out to the mobile first shoppers. In order to better connect with these mobile-first shoppers, enhance mobile shopper engagement and get substantial sales, retailers and brands need to invest in mobile app optimization and build a targeted marketing strategy. Conversion rates are 5 times higher on app, about 20% then on mobile web, which is 4%, in the Asia-Pacific region. Globally, advertisers saw nearly a 50 percent year-over-year increase of in-app transactions, climbing to 46 percent in the fourth quarter of 2017.
Consumers continue to trade desktop for mobile, and back again, depending on the time and day they are shopping online. Retailers looking to target the busy working customer, cannot ignore the dominance of desktop during business hours, especially between 9 a.m. - noon. Alternatively, optimizing for smartphone and tablet targeting remains critical in the evenings and throughout the weekend.
Cross Device Data
Cross-device data combinations can help retailers make up lost ground from lower shares of mobile sales. It also helps in revealing where the shopper will go based on where their journey began. In India, 25% of post click sales are preceded by a click on another device. Combining cross-device data to better understand and target shopper intent allows marketers to capture higher-value shoppers. This trend is apparent in the Travel & Retail category.
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