This week on Behind the Numbers: Reimagining Retail, analysts Yory Wurmser and Sky Canaves discussed mcommerce trends with host Sara Lebow.
Here’s what they said are the most watch-worthy mcommerce metrics:
Mobile buyer penetration
Analyst Yory Wurmser is keeping an eye on the percentage of mobile browsers who become mobile buyers. This year, 83.3% of US adults will browse products on their phones, while a considerably lower 65.2% will actually make a purchase on a mobile device.
Without shoppers checking out via mobile, many casual browsers’ carts are abandoned, making those mobile purchases key to increasing overall conversion rates. Host Sara Lebow sums this up as watching how many people are “doing the shopping, adding to their carts, and making the purchase.”
Digital wallet adoption
For analyst Sky Canaves, it’s all about (access to) the (virtual) Benjamins. According to our “US Retail Mobile App Features Benchmark 2022,” the ability to use a third-party digital wallet (think Apple Pay), was only a feature in about half of the apps surveyed. But the demand persists.
“When I see Apple Pay, it just makes me so happy,” says Canaves. “I love just using my face to pay for things when I’m mobile shopping.”
This year, 35.6% of US adults will make proximity mobile payments, a figure that will increase to 42.6% in 2026. The more people adopt digital wallets, and the more those wallets work seamlessly for in-store and remote purchases, the faster mobile purchases will increase.
This one might seem obvious, but that doesn’t make it any less important. Mobile buyer penetration and mobile wallet adoption both contribute to decreasing cart abandonment on mobile. For that reason, Wurmser mentions mcommerce conversion rates as a metric to watch.
One Liberty Plaza9th FloorNew York, NY 100061-800-405-0844