11/12/15 10:00 am PST/1:00 pm EST/5:00 pm GMT
Mobile commerce is not just growing—it is exploding. As recently as the first quarter of 2015, analysts estimated that mCommerce makes up some 29 percent of eCommerce transactions in the U.S. and 34 percent of transactions globally. For countries like Japan and South Korea where mobile is more widely used for everything from content consumption to commerce, more than half of eCommerce transactions are actually mobile.
Yet according to one report, there is a clear failing noted in the mCommerce statistics, especially in the U.S. The report reveals that while there is little to no difference in the number of products viewed between desktop and mobile browsing, the drop-off from browsing to transaction is severe, with desktop conversion averaging 4.55 percent and mobile conversion only reaching 2.46 percent. Compared to a market like Japan, which has a mobile conversion rate of 9.35 percent, the failure to convert mobile browsing into a mobile transaction is shocking. But around the world, it is clear that we are leaving money on the proverbial mobile table.
What this gap most distinctly showcases is the breakdown in the mobile customer experience. Marketers have worked to optimize all aspects of the entire digital customer experience journey, creating personalized experiences that seamlessly transition into frictionless commerce conversations. But when it comes to the mobile experience, where customers are empowered to be in total control of their hyper-personal devices, marketers have looked at individual points of improvement along the journey but have not fully taken the next leap forward.
The CMO Council, as part of its ongoing mobile relationship marketing (MRM) advocacy tackled this very issue in a one-hour interactive webcast. We were joined by experts in mobile engagement and commerce from Moovweb, who shared insights about how leading global brands are turning the mobile customer experience into one that engages from first click to the final transaction. We also heard peer-powered best practices in transforming and optimizing the mobile commerce experience just ahead of the busy holiday season.
Watch on-demand how we delved into making the most of mobile by rethinking the end-to-end experience.
Liz Miller, SVP, Marketing - CMO Council, Christoph Heyn, Director, Mobile & Digital Guest Experience - Marriott International, Haresh Kumar, Vice President of Marketing - Moovweb