Consumers are spending more time shopping on digital devices – nothing more than the ubiquitous mobile device, which has led to the creation of a new term: mCommerce. With purchasing power in their hands, consumers are looking for the best shopping experiences they can find and are willing to sail away from anything but the most transparent and secure.
Mobile shoppers demand the ability to make secure and fast payments both online and in-store and, in many cases, a combination of the two. Retailers have a major opportunity to convert shoppers through engaging mobile apps that can personalize experiences, and they must do everything possible to put their stores within reach of consumers.
In the May issue of Mobile payments in e-commerce tracking®, PYMNTS explores how and why consumers are increasingly buying through mobile channels, as well as how retailers can improve the mobile shopping experience to attract and retain customers.
Around mobile payments in the e-commerce space
US consumers have grown accustomed to digital shopping habits developed during the pandemic, but as shoppers have returned to stores, they are more likely to want to continue using mobile shopping options, new PYMNTS research finds. . More than 5 million US consumers said they “sometimes”, “often” or “always” purchase additional items when picking up their online orders in-store, giving these stores an opportunity for additional revenue.
Meanwhile, the days of online shopping via personal computer are fading as consumers increasingly shop via mobile devices, according to a recent report which gave a nod to the term “mCommerce”. The report notes that retail sales exceeded $359 billion in 2021, up 15% from the previous year, and current projections estimate that they will reach more than $728 billion in 2025, which accounts for over 44% of total digital retail sales in the United States.
To learn more about these stories, visit Tracker’s News & Trends section.
Adyen on Leveraging Mobile Commerce for Better Customer Loyalty
While many retailers have pivoted their sales platforms to meet consumer demand for mobile commerce, there is still a long way to go in their digital transformation to not only attract customers, but also close the sale and convert them into regular customers. Consumers today buy on different platforms, and retailers need to start meeting them in the multiple channels where they want to be. It starts with investments in robust technology that gives retailers a clear view of information that can individualize shopping experiences and reduce checkout friction.
In this month’s report, Rehman BaigVice President of Product Data and Partnerships for Adyena global e-commerce payments platform, explains how retailers need to embrace the new normal of mobile commerce and strive to make it easier for customers to shop and pay from their mobile devices.
PYMNTS Intelligence: The essential role of mobile payments in unified and transparent e-commerce
Online and mobile shopping trends have emerged as the preferred method for many consumers who have grown accustomed to digital shopping or prefer the hybrid of online shopping orders and curbside pickup. Consumers appreciate the convenience of shopping on their mobile devices, with more than 75% doing so to save time, according to a report. However, retailers may not be holding their end of the bargain as their mobile shopping apps need improvement. Up to 90% of mobile shoppers report experience issues such as links and pages that are too small to click when using their devices.
To tap into this market and convert these shoppers into customers, retailers must strive to optimize their apps to make it as easy as possible for mobile consumers to find and pay for their purchases quickly and seamlessly. This month, PYMNTS Intelligence takes a close look at the importance of a unified and seamless e-commerce experience and how mobile payments are a crucial part of that experience.
The Mobile payments in eCommerce Tracker®a PYMNTS and American Express collaboration, examines how and why consumers are increasingly buying through mobile channels. It also explores how retailers can improve the mobile shopping experience to attract and retain customers.