Shoppers today are more obsessed with their phones than ever before. According to a study from Statista, the average U.S. consumer spends over 2.5 hours on their mobile device daily. Whether that time is spent on social media, texting or browsing the web, mobile has completely transformed consumers’ expectations. Even as the popularity of mobile shopping continues to rise, U.S. retailers are struggling to keep up with consumers’ expectations for faster and easier shopping experiences when it comes to their mobile apps.
According to Worldpay’s Mobile Payment Journey report, which surveyed more than 16,000 smartphone users across 10 markets globally about their mobile shopping preferences, the U.S. is still behind the rest of the world in the mobile app revolution. Consider that 36 percent of U.S. consumers still prefer a mobile browser compared to an app.
To help drive mobile adoption and revenue, retailers should take a closer look at their current mobile presence to determine if it’s meeting shoppers’ evolving demands and security concerns.
Cater to Your Customers
Consumers are looking to retailers to offer better mobile experiences, and some are so desperate they’re even willing to pay for it. Worldpay found that 34 percent of U.S. consumers would be willing to pay more for a product/service if the mobile user experience was better. That number only grows for younger shoppers, with 41 percent of millennials saying they would pay extra for a better mobile experience — double that of older shoppers (65-plus years old).
Shoppers’ preference for mobile is only going to continue to grow. A recent study by eMarketer found that in 2021, mobile e-commerce is estimated to climb to about $3.5 trillion. Therefore, retailers looking to capture this growing market should immediately find ways to make the user experience on their mobile app simpler and faster.
One way that retailers can simplify their mobile experience is by streamlining checkout. By optimizing screen space, eliminating form fields and enabling shoppers to save their payment details, retailers can make it easier and faster for shoppers to get from “Add to Cart” to the confirmation page, helping boost sales and curb cart abandonment.
A faster and simpler experience shouldn’t mean skimping on security, however. Besides streamlining their mobile apps, retailers also need to focus on security. While mobile shoppers want to check out quickly, U.S. consumers are still very security conscious. According to Worldpay, concerns that a website/app wasn’t secure was the No. 1 reason for mobile cart abandonment.
As more retailers announce breaches of their customers’ data, shoppers are understandably hesitant to share their personal information, whether they’re making a purchase on a desktop or mobile.
In order to restore shoppers trust in retail, merchants need to make their security measures clear to their customers on mobile. By including security logos on their homepage and offering familiar payment methods, retailers can help establish trust with their mobile shoppers and encourage purchases.
As mobile shopping continues to grow, retailers need to take a closer look at their mobile strategy. By taking steps now to offer a more seamless and secure mobile shopping experience, retailers can better meet the needs of mobile-savvy shoppers today and down the road.
Casey Bullock is general manager for the North Americas, global enterprise e-commerce at Worldpay, a provider of secure payment processing.
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