Mobile is driving an unprecedented shift in consumer behaviour, reducing the use of cards and cash. In 2016, approximately one billion active mobile payment users exist globally. By 2019, the number is predicted to reach two billion. This was a key observation made at Criteo’s The ‘What’s Next? The Future of E-commerce’ conference.
“A mobile first approach is key for any e-commerce business or retailer to succeed in this day and age. Globally, smartphones are leading the way and the MENA region is a 81% smartphone driven region with 43% e-commerce transactions happening through mobile, in comparison to 39% globally,” observes Dirk Henke, Criteo’s managing director emerging markets.
“By optimising the mobile experience for smartphones and personalising mobile web shopping experience, brands will have a greater chance to convert browsers to buyers,” he adds.
According to Criteo’s Mobile Commerce Report H1 2016, 57% of retail mobile transactions are made within an app. By making applications a priority, building loyalty and rewards to inspire brand engagement and providing personalised communications across all platforms, retailers can harness the power of apps for their business and generate 60%+ revenues in app.
The conversion rate for mobile app purchases is 13% as opposed to the desktop conversion rate, which is 11%. Technologies like deep linking and mobile retargeting help retailers drive downloads and traffic to apps.
“Today’s consumer is driving a seismic shift in e-commerce. Millennials have grown up with digital and Gen Z are ‘technohilics’. They expect everything on demand and thus smartphones are increasingly becoming the device of choice for e-commerce,” says Criteo’s executive vice president EMEA, Gregory Gazagne.
By implementing technology, retailers can connect with people as opposed to devices by using real-time customer and device data to create a seamless experience and a consistent brand story. Cross device purchasing is 50% of all e-commerce globally and 42% in the Middle East and Africa.
By 2026, contextual location will be an integral part of the retail experience and will be driven by mobile. Predictive analysis will pave the way for a far better shopping experience and digital assistants will draw on cognitive power of artificial intelligence and will do the job of identifying goods and deals for users.
A report from Bain & Company has revealed that the emergence of some positive shopping trendsMay 9, 2021 | By RetailME Bureau
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