Much to the frustration of mobile marketers, shoppers on mobile aren’t exactly loyal.
While 71% of smartphone owners use their devices to shop, the average shopping cart abandonment rate is 69% according to new findings from Moovweb. Conversion rates on mobile are 70% lower than on desktop.
Mobile consumers mostly care that the checkout experience is trustworthy, convenient, and consistent. Seventeen percent of them will abandon their carts due to concerns about privacy, while 40% will go to a competitor after a bad experience. Fifty-seven percent won’t recommend a business with a poorly designed mobile site or app.
On top of all that, 64% of consumers expect a mobile site to load in four seconds or less.
The point of sale has been the biggest stumbling block for many companies looking to drive conversions on mobile. Occasionally, the actual checkout is run by another company entirely, requires multiple forms to fill out, and sometimes asks for information that isn’t pertinent to the current sale.
Mobile commerce is only growing, but as it does, unsolved problems won’t just disappear under the weight of all that money. In 2014, mobile comprised 11.6% of the $303 billion in ecommerce sales in the U.S. By 2020, mobile will account for 45% of the $632 billion in total e-commerce sales, says Business Insider Intelligence.
Moovweb recommends that companies improve checkout experiences by explaining why they need certain information, auto-detecting as much info as possible for the various forms, making sure info is readable, ensuring the security of all transactions, and testing out different formats to see what works best.