Cyber Monday Is Here: Why Mobile Is A Must-Have For Your Business
In 2016, Cyber Monday sales reached an all-time high, with consumers spending $3.45 billion USD in a single day. Black Friday traffic was up 220% over a regular day. And, while Black Friday/Cyber Monday originated in the United States, it’s become an international event–according to a 2016 Borderfree study, Black Friday/Cyber Monday orders were up globally, with countries like India seeing as much as 173% growth over the previous year. One of the reasons for the shopping sensation? Mobile.
More customers are shopping online and on mobile devices than ever before, especially during big holiday sales. While shoppers now spend 7% less time in each mobile session, smartphones’ share of online shopping purchases have gone up 64% over the last year, and 30% of all online shopping purchases now happen on mobile phones.
According to Javelin Strategy & Research, mobile proximity payments are expected to total more than $90 billion in 2020, and retail payments via mobile apps/browsers are projected to reach $318.8 billion during the same period. “If you’re following the money, as they say, mobile commerce is the place to look right now, and it’s why we’re seeing the major wallet providers shift their focus to enabling online and in-app payments as much as growing proximity payments at the point of sale,” says Emmett Higdon, director of the mobile practice at Javelin.
Consumers are using their smartphones in all parts of the shopping process, from research and “window shopping” to purchasing and sharing news of the sale. The numbers are astounding. More than half (52%) of shoppers plan to use a smartphone for holiday shopping this year before they visit a store, and 82% of smartphone users will consult their phones while in a store. People are searching 37% more from inside department stores than they were last year. A majority of holiday shoppers (54%) plan to shop on their smartphones in spare moments throughout the day, such as when walking, commuting to work, eating food, or drinking coffee. Shopping-related searches on mobile devices have grown more than 120% year over year, and mobile is quickly catching up to desktops. New mobile payments platforms means more people have the ability to use their phones in stores–a Google Consumer Survey found that 40% of people say they are likely to use their smartphones to pay in stores this holiday season.
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