On-the-Go omnishoppers generate the highest ‘Lifetime Sales Value’ simultaneously fueling in-app sales and higher conversion rates on shopping apps vs. mobile, according to new research.
The study, from Criteo’s Global Commerce Review for Q1 of 2018, analysed browsing and purchasing data from over 5,000 retailers in more than 80 countries, indicated that today’s shoppers are making on-the-go purchases, and are active across all browsing environments.
“Our latest study shows continuing shifts from desktop to mobile shopping, as well as from retailer websites to apps. Today’s shopper is on-the-go and researching across multiple screens, requiring a cohesive, data-driven approach to intersect and influence buying decisions,” said Jonathan Opdyke, Chief Strategy Officer, Criteo. “For retailers with physical stores, app adoption and improved data infrastructure are opening new horizons in omnichannel marketing, with online and offline blending into a seamless and measurable shopping journey.”
The top three key takeaways from Criteo’s Q1 Global Commerce Review include:
• Retailers must also prioritise and optimise shopping apps, or risk leaving money and revenue opportunities on the table, as mobile transactions are no longer confined to mobile websites only.
• Consumers shift between devices, environments and walled gardens, but mobile phones are still the preferred vehicle for transactions.
• Matching offline and online data is key to unlocking shopper intent and purchasing power, especially as omnichannel consumers generate the highest lifetime value in terms of sales.
Additional research highlights:
• App Adoption Soars
o European retailers with shopping apps see 25% more of their sales take place on smartphones than those without apps
o Shopping apps generate conversaion rates three times higher than on mobile web for UK retailers
o Globally, in-app transactions have increased by 22 percent year-over-year.
o In North America, the conversion rate on shopping apps is more than three-times higher than on mobile web.
• Mobile Market Maturation
o The growth rate of sales made on smartphones in the UK has increased by 66% in the last quarter, from 19% (Q4 2017) to 31.5% (Q1 2018)
o Mobile accounts for over half of (54%) of all online purchases made in the UK in Q1 2018
• Omnichannel Opportunity
o Despite representing only seven percent of all customers, omnichannel consumers are responsible for 27 percent of all sales.
o Omnichannel data is key to optimising marketing efforts; retailers that combine offline and online data can apply over four-times as much sales data to inform their marketing strategies.
For a complete look at the Global Commerce Review, view the report at https://www.criteo.com/insights/global-commerce-review-united-states-q1-2018/.
The Global Commerce Review analyzed individual browsing and purchasing data from over 5,000 retailers, in more than 80 countries during Q1 2018.