With the growth of the mobile economy, "m-commerce" transactions are projected to overtake e-commerce transactions globally in 2019. This trend shows how important it is for brands to get ahead of their mobile strategies.
It looked at millions of transactions that took place in the Button Marketplace over the 2018 holiday season.
It wanted to discover insights and purchase patterns across shopping categories, and it identified peak periods in order to drive 2019 m-commerce strategies for businesses.
The report shows that mobile shoppers are browsing more than before with a 61 percent increase over 2017. Shoppers are also making 108 percent more purchases using apps than by mobile web over the holidays. Shoppers were making more repeat purchases and spending more in-app than on mobile web.
Compared to the rest of 2018, app installs rose by 108 percent over the holiday shopping season --demonstrating willingness amongst shoppers to download new apps.
Consumers spent 121 percent more in 2018 compared to the same period in 2017. Power shoppers made more than six shopping trips, completed twice as many purchases than average shoppers, and accounted for 22 percent of total sales generated over the holiday period.
Seven out of 10 shoppers during Cyber Week were new users, and one-third of those new users came back to shop again, even after Cyber Monday ended.
Cyber Week (the Monday before Thanksgiving through Cyber Monday) 2018 displayed the biggest purchase volume throughout the entire holiday season, which makes sense considering it includes the three largest purchasing days of the season.
Purchases rose ﬁrst thing in the morning and late at night when shoppers were not at work.
Usefully, one out of three users acquired during Cyber Week made another purchase within 45 days.
Mobile consumers shopped across a variety of categories and completed both small and large transactions on their phones.
The data showed that app shoppers spent more and made more repeat purchases than mobile web shoppers, highlighting the opportunity among engaged app users.
Also: Digital transformation in retail TechRepublic
Its is obvious that investing in an app for your business will lead to better sales and acquisitions. New users are important. A third of new users will shop again in the short term and some will average six or more purchases.
Mobile commerce is ready for brands -- the shoppers are there -- so businesses should be there, too.
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