Today's consumers use several avenues for shopping, whether they are directly shopping in a brick-and-mortar store, or simply ordering products off of the Internet. Internet purchases are increasingly gaining traction over in-store purchases, and shopping on mobile devices has accelerated this process. Overall, mobile shopping is growing substantially, and a recent report conducted by the Mobile Commerce Index found that the smartphone generated traffic from a selection of major retailers has skyrocketed, with almost twice as many visits, orders, and revenue generated this April compared to April of just one year ago.
The report surveyed statistics from 18 major retail clients in various industries around the world, working in industries like clothing, healthcare, and various home goods. Collectively, this index is the largest collection of commerce data from retail sites that are designed to cater to mobile access.
Total visits to mobile versions of these retailers' websites reached a cumulative total of 9,686,235 back in April of 2013, but this April's smartphone visits jumped up to 17,804,155, representing an increase of 83.8 percent. The actual number of orders made almost doubled with a 96.4 percent growth, from just over 54,000 orders made last April to more than 106,000. The fact that orders went up at a faster rate than visits means that consumers are now more likely to actually make a purchase from their mobile device after viewing the product, as opposed to later buying it in-store or purchasing it from a desktop when they get home.
However, the most significant piece of data from this survey had to do with revenue. While the total smartphone revenue made by the 18 clients surveyed reached nearly $5.5 million, this April had brought that figure all the way up to $11,852,897. This revenue increase of 115.9 percent shows more than the fact that there is money to be made by catering to the smartphone demographic.
Between site visits, orders made, and revenue, the fact that revenue was the figure that grew the largest shows that as the number of visits and sales increases, the actual revenue earned by these sales increases at a much greater rate. Simply put, making a small number of mobile sales in any given timeframe will be exponentially smaller than a larger number of sales.
Edited by Maurice Nagle
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