A report by performance marketing technology company Criteo reveals that mobile now accounts for 34% of e-commerce transactions globally, and is expected to reach 40% by the end of 2015.
To discover the latest global mobile shopping trends, the Mobile Commerce report analysed data across 3,000 online retailers and travel advertisers, covering 1.4 billion transactions totalling over $160 billion of annual sales.
It found that Asia and the UK are the most advanced markets for mobile shopping, with over 50% of mobile purchases in Japan and South Korea and 44% of transactions in the UK happening on smartphones.
Smartphones are replacing tablets and fast becoming the dominant mobile device, meaning the success of advertisers is increasingly depending on their ability to offer consumers a user-friendly, compelling mobile site.
Larger screen sizes such as with the Samsung Galaxy means smartphones are becoming a more convenient way for consumers to purchase. Although smartphone conversion rates are lower than those on tablet or desktop, suggesting that completing a purchase is still not quite simple enough for many consumers, significantly higher traffic means that smartphones are actually generating more transactions.
Within the Health and Beauty category, smartphone order values are now close to desktop. Products within this category tend to drive repeat purchases, making them smartphone convenient – good news for MoreNiche affiliates.
The Future of E-Commerce
Key trends for the future predicted by the Criteo report included:
- E-commerce growth is unstoppable and mobile share of e-commerce transactions will have reached 40% globally by year-end
- Smartphones will continue to replace slower-growing tablets with larger phone screens aiding this trend
- The smartphone conversion funnel is different and dramatic increases in browsing will stem from advertisers in Western markets focusing heavily on improving their mobile sites
- The next big challenge for marketers is to understand cross-device behaviour as the majority of users continue to visit sites via multiple devices
“The huge growth in mobile transactions over the past quarter shows that consumers are now very comfortable purchasing on smartphones across all categories” said Jonathan Wolf, chief product officer at Criteo.
“Mobile commerce is growing like a weed. In just the last three months there was a 10% increase in mobile transactions in the US alone. There really is no limit to this growth – mobile is now more than half of all e-commerce transactions in advanced markets like Japan and South Korea,”