And mobile revenue increases year over year on Black Friday, as more shoppers turn to their smartphones, a new study finds.
94% of e-retailers either have a mobile strategic plan or are developing one.
Use of the mobile web is on the rise. Smartphone sales are through the roof. A steadily increasing number of retailers, ticket sellers and travel companies are launching mobile commerce sites and apps. And, a new study shows, most retailers that have been sitting on the sidelines are now prepping for a mobile future.
74% of online retailers either have in place or are developing an m-commerce strategic plan, while 20% have fully implemented their plans, according to the “State of Retailing Online: Marketing, Social Commerce and Mobile Report,” produced by Forrester Research Inc. and Shop.org, the digital division of the National Retail Federation, a retail industry trade organization.
“It’s imperative for online retailers to stay on top of what their customers want, and these days it’s all mobile, all the time,” says Scott Silverman, executive director of Shop.org. “Mobile commerce has tremendous potential and will no doubt grow to become a significant part of overall sales volume in years to come. Whether to increase customer satisfaction, grow their brand, or drive traffic and sales, online retailers are in this game to stay.”
According to the report, web retailers with mobile strategies:
- Are investing in features that support the cross-channel experience. Product and price information, store information, and coupons to promote in-store shopping are among the most popular features that retailers are offering consumers.
- Have varied levels of investment. While respondents anticipate spending on average $170,000 on their mobile sites this year, large multichannel retailers are spending several times that amount, while smaller web-only merchants on average are investing far less.
- Are experiencing modest gains. Retailers report their mobile shoppers are currently generating a little less than 3% of overall web site traffic and 2% of revenue.