Why does your business absolutely need a mobile strategy?
A recent survey highlighted that in 2022 people spend almost 4 hours daily on their mobile phones. It is a 1/3rd of waking hours! The time spent on mobile apps has increased from three hours per day in 2019 and 3.7 hours per day in 2020.
In 2021, retail e-commerce sales amounted to approximately 5.2 trillion U.S. dollars worldwide. This figure is forecast to grow by 56 percent over the next years, reaching about 8.1 trillion dollars by 2026.
Internet sales have played an increasingly significant role in retailing. In 2021, e-commerce accounted for nearly 19 percent of retail sales worldwide. Forecasts indicate that by 2026, the online segment will make up close to a quarter of total global retail sales.
Over 250 billion euros were spent online by UK customers, more than twice as much as the second-placed French consumers. With 100 billion euros in sales, Germany ranked third in Europe for online markets. However, this picture is different when considering how much of a country’s GDP is made up of e-commerce. Online sales now account for more than 7% of GDP in Denmark, Greece, and the United Kingdom.
These trends explain the growing interest in mobile apps in today’s economic landscape. The early adopters of mobile strategy were Social Media platforms and banks. All the big successful retailers – Amazon, Bol, Coolblue, and Zalando, immediately followed and adopted strategies focused on apps for smartphones, became a model in the market, and led the innovation.
What You Need to Know about Mobile Use
Some figures can help better understand how important mobile apps are in the economic landscape:
- 90% of mobile time is spent in apps, and only 10% browsing the rest of the internet.
- 70% or more of web shop visitors are mobile device users.
- Mobile app users spend an average of 201.8 minutes per month shopping.
- People view 4.2x more products per session within apps than mobile sites.
- Apps have 3x higher conversion rates compared to mobile sites and even 1,5 times more conversions per session than via desktop.
- 61% of Millennials download retail apps and 58% of millennials mentioned that they preferred purchasing through apps.
Some relevant figures on mobile use
Why Your Retail Deserves a Sensational Mobile Strategy
A quality mobile app provides much more than just an easy way to make purchases. Based on the interests of the customers, it offers a customized “experience” and delivers information about the products that are displayed on the retail shelf. Mobile apps also grant a better engagement, conversion, and retention rate:
- 54% of customers consider a mobile app much more convenient and more comfortable in usage than a mobile site.
- Apps can retain user data, enabling one-click checkouts and minimizing load times.
- Apps grant a quick, fun, and easy user experience.
- The payment is optimized.
- App icons are visible when a user explores their phone, keeping their brand awareness high.
- Push messages keep customers engaged with the brand.
- Loyalty campaigns conducted by the app help build a relationship of trust with the users.
- The app environment is specifically set up for the smartphone and certain features can even be used offline.
Mobile apps are also an effective way to reduce shopping cart abandonment. Guest checkout feature, optimized checkout and transaction forms, smooth browsing experience, and checkout progress bar, all contribute to improving mobile app sales.
Surprising or not, customers utilize retail mobile apps also while making in-store purchases. Users of retail mobile applications reported using them 55% of the time while making in-store purchases to check additional information about the products.
If you run a business and don’t have your own app, your customers will go to your competition. You might not have one, or you might want the one you do have to work better. Whatever the case, Flyx is the omnichannel cloud software suite for retail chains.
Our cutting-edge, customizable technologies enable our customers to create a personalized, fun, simple-to-understand, omnichannel experience, and to manage all the different digital sales channels through one single system (OMS).
Our vision is to be the all-in-one digital technology platform and to lead digital innovations to improve customer experiences.
And you? What is your future mobile strategy?
