Born between 1979 and 1996, Millennials are the largest defined generation, accounting for nearly one quarter of the US population. That’s approximately 78 million Millennials… and there have been nearly as many articles published about this highly discussed demographic. So why do I feel another is needed?
Mobile commerce is propelling retail sales forward in a way that's shifting how Magento etailers should think about their business. Chain Store Age recently reported that by 2020, mobile retail sales will hit 48.5% of ecommerce sales and will account for $250 billion in revenue. With this consumer shift comes an incredible opportunity for ecommerce savvy retailers to make it easier for consumers to shop their brand. It's great to have a mobile responsive site - but to make the most your etailing business, investing in a mobile commerce strategy is the way to go. Here's what you need to know:
1. Native Is Better
It's not enough to just have a mobile presence; retailers need native mobile commerce to see the true benefits that a mobile app can bring. Native apps run 5 times faster than mobile sites and enable an on brand, better user experience as a result. People view 4.6 more products on average in a native app compared to the mobile web and convert to purchase 3x more. If you want to boost numbers even more - add loyalty to the app to increase revenue by up to 20 percent.
The key here is you want the path to purchase and checkout to be as smooth and seamless as possible. You don't want to bounce the customer off the mobile app and onto mobile web to complete the transaction. If you do that, you'll lose the sale and just frustrate consumers that have come to expect immediacy and convenience from their mobile experiences.
An added bonus from having a native mcommerce app is that it gives retailers the chance to send push notifications at the right time to consumers. This is important because push notifications have been proven to lift sales....how?