As promised, we are back to discuss the impact of mobile apps across industries.
For the uninitiated, take a look at our earlier post, State Of Mobile App Adoption Across Industries. This post is a great summary of mobile app penetration with the advent of smartphones and the impact it has created across industries.
Based on the research findings by Flurry Analytics, mobile app usage sky rocketed to an amazing 76% in 2014. The top categories of apps that have gained the maximum traction are:
- Lifestyle/shopping apps stand first with 174% growth
- Utilities/Productivity comes second at 121% and
- Messaging/Social Media at 103%
For this article, we’re going to look at how retailing businesses are making the best of mobile app.
With the focus on creating personalized experiences, mobile apps came as a boon to the retailers. This opportunity was too big to shun and the retailers jumped on the bandwagon quickly. In fact, retailers are coming up with constant innovative methods to connect & stay close with the consumers.
- According to a finding by ComScore and Internet Retailer, as published by Flurry Analytics, the time spent on online retail via mobile increased from 52% in 2013 to 66% in 2014.
- The mobile time was further broken down to 63% of time spent on apps and 37% spent on browsers.
- The mCommerce sales grew to $118billion in 2014 from $66 billion in 2013, which is a 78% growth.
- The growth was further categorized with revenues out of apps was at 42% and of browsers was at 58%.
The smartphones and the tablets further fueled the sales quotient by gaining over the traditional desktop conversion rates. The dependence on smartphones and tablets starts from researching the product from a smart device.
A study result published by Ninth Decimal in June 2014, 81% of mobile users conducted a research on the items to be purchased and 19% of them used their devices while at the store itself. Also, the research duration varied with the price of the item to be purchased. The higher the price, the more the time spent on research.
According to 451 Research, July 2014, in the US 27% of purchases happened via retail mobile (smartphones) apps.
But when and from where do they use these apps?
This is where and when…
- A Forrester Consulting Research by Tapjoy (as on March 2014) reported that over one-third of US smartphone owners used a retail app at least weekly.
- L2Think Tank, March 2014, noted that 16% of retail and consumer brand apps allowed its consumers to transact in-app.
- The shocker – L2 Think Tank also noted that 75% of retailer apps do not provide consumers with a store locator feature!
- The final stats reveal how ill-prepared the brands are at catering to the trends and the need of their consumers.
Well so where are you in the retail app space? In the process? Great.
But still not sure how to go about it? Thankfully we are.
Be it just retail app or ecommerce website or enterprise mobility is what you need, we can help! Fill out the form below and we’ll take care of the rest.