2017 delivered some surprising mobile trends and mobile commerce insights for 2018, with a call to focus on the mobile checkout experience to increase revenue. The mobile checkout experience is a clearly neglected area for many retailers, contributing to half of the conversion rate drop off sitewide. Yet retailers have only made a 4% improvement over the last year. The delta between desktop and mobile checkout points to a clear user experience cause of this difference. At every stage of the checkout experience, we see a significant drop with mobile sites losing almost double the traffic of a desktop site. However there is a solid group of checkout design factors that once optimized, have consistently led to improved conversion rates. These are the factors that every retailer should focus on optimizing in 2018.
Mobile Channels Attracting Larger Purchases.
The highlight of the year is a 70% increase in mobile average order value (AOV) from $18.37 to $32.81. This indicates the increasing comfort with which users execute larger mobile purchases. This increased comfort is a significant contributor to the 17% increase in mobile revenue given that the mobile share of sessions only increased by 7% during the same period. In 2018, retailers should look to build on this growing confidence in mobile data security by continuing to enhance and communicate security features during the checkout process where sensitive information, such as credit card numbers, is requested.
A common misconception in the industry is that people will not make large purchases on mobile. While mobile has a 19% lower AOV than Desktop we observed purchases ranging into the hundreds of dollars on mobile. This signals a growing opportunity for retailers to capture more revenue on mobile platforms than previously expected.
2018 Suggested Goal: Optimize mobile checkout design and usability factors to increase mobile checkout conversion rates and increase mobile revenue.
In this ebook, we discuss some simple but key mobile checkout design and usability factors that retailers can focus on in 2018 to improve further on mobile trends from 2017.
MoovCheckout is a SaaS product created on the science of the optimized mobile checkout experience. Crafted according to data analysis on over 400 dimensions of the checkout process, MoovCheckout has improved mobile checkout conversion rates by more than 17% in the first month after implementation, with a climb to more than 38% after six months. Constant engineering improvements to the MoovCheckout platform ensure that mobile checkout experiences continually adapt to changing technological improvements and customer expectations, allowing retailers to focus on e-commerce issues besides checkout design and usability.