M-commerce is on the rise, according to the 2017 Omni Survey by StackAdapt, which finds that 53% of consumers have used their smartphones to make online purchases at least once, and 11% make more than half of their online purchases via mobile.
The majority of this group are university educated, Generation X and Millennials (between 18-44) with have high annual earnings (greater than $80,000).
That said, almost half (47%) of consumers have never made a purchase using their mobile device. Of those who do, four out of 10 consumers use mobile to purchase for entertainment (43%), digital products (41%) and consumer goods (39%).
Female consumers in households with children under the age of 18 are more likely to make online purchases on their mobile device than men. Younger consumers who use their mobile device to make online purchases are most likely to buy entertainment, digital products, clothes, services, and financial products.
More than 82% of consumers using mobile to make online purchases say at least one thing prevents them from making an actual purchase. The most common reason (54%) is the small screen. Poor landing page experience trails in second place at 33%.
While 35% of consumers browse the Web on their mobile in incognito mode, 34% of consumers say that they never browse in incognito.
More than 38% say that they always/most of the time discover a product on mobile but make the actual purchase on a bigger device (desktop/tablet/laptop). Forty-three per cent of consumers using mobile for making online purchases delete cookies once a month.
"Mobile presents a tremendous opportunity for brands," says StackAdapt COO, Vitaly Pecherskiy. "Currently, m-commerce represents around one per cent of all retail sales, and I now understand why. Brands are using old-school technology that relies solely on cookies - primarily a desktop solution, to track visitors or sales. The reality is that consumers today bounce from one device to another, and brands will not uncover a customer's purchase journey using the old system. As a result, they have developed a blindspot for customers accessing their sites through mobile.
"Unfortunately," he continues, "a large number of marketers still don't see how under-developed their current systems are when uncovering a customer's journey on mobile, and subsequently aren't investing in mobile solutions. The longer they put off building a proper cross-device attribution model, the more challenges they will have when attempting to make sense of which channels are driving positive ROI for them."
StackAdapt also found that certain industries, such as entertainment, perform better on mobile because of their "one-size fits all" nature. For industries such as financial services and e-commerce where consumers face a plethora of choices, however, brands must focus on offering tailored options to the right audience.
The survey includes response data from a national online panel of more than 1,542 Canadians between July 10-13, 2017, from LegerWeb.
Photo courtesy of Spotify