For online retailers, a good mobile experience for customers may be the make or break factor in business survival.
Mobile commerce (m-commerce) is quickly becoming a driving force in online commerce. In fact, U.S. retail m-commerce sales are expected to reach $123.13 billion in 2016, a 39.1% increase over 2015 and more than double 2014, according to eMarketer. This year, m-commerce will account for just under one-third of retail ecommerce sales and 2.6% of total retail this year, the research company estimated.
Electronics OEMs, in particular, need to watch this trend since by some measure the growth is being driven by electronics products, especially smartphones. Smartphone retail m-commerce in the U.S. nearly doubled in 2015 to $39.40 billion, a 95.8% year-over-year increase, according to e-marketer. In 2016, growth will slow down to 49.9% still representing nearly $20 billion additional sales.
To succeed, online retailers need to deliver on the expectations of mobile consumers. Unfortunately, mistakes can hurt he organizations brand, erode customer loyalty, and undermine the ongoing potential of the company.
The infographic below from Chargebacks911 looks at the current state of m-commerce. Check out the tips on how merchants can leverage technology to drive sales and customer loyalty. Take a look and let us know about the successes and failures you've seen in the comments section below.
— Hailey Lynne McKeefry, Editor in Chief, EBN