It is undeniable that social shopping and mobile are two of the largest and fastest growing segments of eCommerce and digital engagement today. It only makes sense that the two would find a way to converge and leverage the strengths of one another. So far we have only seen the tip of the iceberg, but we anxiously anticipate what innovative developments are soon to be at our fingertips.
Their recent study surveyed 1,004 adults, with the majority falling between 35-44 years old with a nearly even split of men to women.
The survey found that 92% of users purchase products online at least once a month and that nearly 75% spend over $500 a year online. These figures indicate a strong rise in eCommerce over the last few years, but where does mobile come into the picture?
While the mobile commerce is still looking to define itself, the idea of purchasing products from a mobile device is becoming less foreign to smartphone users as the mobile web becomes heavily integrated into their everyday lives. In fact, Forrester predicts mobile commerce to grow to $31 Billion by 2016.
Currently consumers most frequently use their mobile devices for product research/reviews as well as interacting with in-store marketing such as QR codes. The overwhelming majority of mobile use relative to shopping in centered on competitive pricing through search and third party applications. Smartphone users love to use their phones to check prices on the go to quickly ensure they are getting the best deal. This could mean good news for your eCommerce store as the mobile industry continues to grow.
When asked about the ways consumers are using their mobile phones for researching products and businesses online, surveyors responded as follows. Roughly one third of consumers use their phones for checking sales & specials, store information (hours, locations, map, etc), product ratings and reviews, and price comparison through Amazon.com. 31% of consumers used their phone to browse online stores looking for products of interest while 24% did so with the intent of purchasing a product.
These figures tell us that currently the majority of mobile devices are being used by consumers to research a product or store rather than to make purchases. However, with 25% of consumers willing to purchase online we can definitely mark a major leap for mobile commerce. As the mobile web continues to develop and more stores expand their mobile presence, eTailers can expect to see a big rise in mobile visitors and sales.
Surveyors were also asked how they use their mobile phones for research while in a brick and mortar store. The results showed that the majority of consumers are using phones to access promotions, compare prices, read reviews, and interact with in-store marketing such as QR codes. This indicated the growing importance of social engagement on your website through customer reviews and interactive marketing.
Today’s shoppers are smarter than ever. They are knowledgeable about the products they want to buy and have the resources to ensure they get the best deal and the best service. In order to win the sale and the customer your business must be an integrated part of their online experience from start to finish. Social engagement has never been so important to eCommerce success, and the future shows no sign of that slowing down.
Ensure that your businesses is doing everything it can to connect with users by expanding your web presence, incorporating reviews into your site, leveraging promotions, and increasing social engagement through mobile and social selling on Facebook. It is important for consumers to see your products/services and from a variety of channels and to connect with them through reviews before they are fully comfortable making a purchase. This is where the value in a social and mobile presence for your business lies.
Visit our blog to read last month’s article about a Social Shopping Study on eCommerce, Social Media, and Customer Reviews from the e-tailing group.