With mcommerce sales increasing the world-over, new research shows the top international retailers are appealing to consumers with a robust mobile proposition.
According to eMarketer, global mcommerce sales rose by 40.3% in 2017 to $1.357trn, representing 6% of total retail expenditure.
Globally, mobile spending is on the up, helped by growing consumer confidence in making purchases via smartphone, and because retailers are offering a greater selection of low-cost items, encouraging impulse purchases.
Smartphone penetration has also been helped by location Intelligence such as GPS, RFID, and in-store beacons, which fuse real-world browsing with digital experiences and purchases.
When retailers think smart, location has the power to bring order to an already chaotic world of consumer data.
At Loqate we understand that location data is much more than a pin on a map, and we are helping some of the world’s most forward-thinking retailers to set the bar high.
“When retailers think smart, location has the power to bring order to an already chaotic world of consumer data”
Optimising mobile technology
In partnership with Planet Retail RNG and Retail Week, we have produced the first International Retail Index, benchmarking the best of the best when it comes to global commerce, with a dedicated chapter on mcommerce. All of the top 30 retailers featured offer a mobile-optimised site.
Unified commerce is a priority, especially for those retailers looking to expand internationally. The innovation in smartphone design and capability is transforming the way consumers interact with brands on a global scale. Shoppers can easily browse, buy, book, receive and return from wherever they please.
Yet, despite the phenomenal growth of mobile commerce, research suggests that only 12% of consumers find shopping on mobile convenient. So, what can retailers do to become the crème de la crème?
“The innovation in smartphone design and capability is transforming the way consumers interact with brands on a global scale”
In 2018, your online store or service should be geared up to meet the demands of the modern mobile shopper. Ease of navigation, clear calls to action, and multiple payment and shipping options are key for the shopper on the move.
Features such as digital receipts and real-time address verification all make mobile shopping more attractive and should be considered a priority for retailers seeking international growth.
Two-thirds of the retailers in the International Retail Index provide domestic address verification, obtaining a distinct advantage. Asos and Sports Direct both do so, and both are currently in the top five.
Knowing customer needs
Winning retailers understand their customers’ unique circumstances wherever they are in the world, however they choose to interact with them.
A third of the retailers featured in the index offer international delivery from their mobile sites and offer a variety of ways in which to receive and return goods. Unsurprisingly, this group is made up of tech-focused retailers such as Apple and Amazon.
There is clearly a huge opportunity to utilise location data and innovative mobile technology to improve the mcommerce customer experience and take a competitive advantage.
Relatively young brands such as Asos, Boohoo and HelloFresh are challenging the traditional heavyweights such as Amazon and Walmart, and are the ones to watch out for when it comes to what’s next for mcommerce.
If you think your business should be featured in the next top 30 please get in touch with either Retail Week, Planet Retail or Loqate to be considered for the Loqate International Retail Index 2019.
David Green is managing director of location Intelligence, Loqate – a GBG solution